fuel pump (3).webp
The Digest:

The Nigerian Government has suspended the implementation of a 15% import duty on petrol and diesel, following widespread concerns over potential price increases. The NMDPRA has assured citizens of adequate fuel supply nationwide and warned against panic buying, marking a temporary relief for consumers and marketers alike.

Key Points:
  • The Federal Government has suspended the 15% import duty on petrol and diesel.
  • NMDPRA spokesperson George Ene-Ita announced the decision in a public statement.
  • The public is urged to avoid panic buying, with assurances of adequate supply.
  • The suspension follows October's approval of the duty to support Dangote Refinery.
  • The policy had drawn mixed reactions over its potential impact on fuel prices.
  • NMDPRA warned against hoarding and arbitrary price increases by marketers.
  • The Authority is committed to monitoring supply to prevent nationwide disruptions.
This temporary retreat from a contentious policy reflects the ongoing storm of balancing economic reforms with public welfare in Nigeria's fragile energy sector.

Sources: Daily Post Nigeria