The President of Nigeria, Bola Ahmed Tinubu has reportedly approved a 15 percent import duty on diesel and premium motor spirit (PMS), also known as petrol.
According to reports, the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to TheCable, Tinubu gave approval in a letter dated October 21, 2025, after FIRS requested that the 15 per cent duty be applied on the cost, insurance, and freight (CIF) to align import costs with domestic realities.
The letter also stated that the implementation of the import duty will increase the price of a litre of petrol by an estimated ₦99.72 kobo.
More details to come…
