Nigeria’s local refining operators have applauded the Federal Government’s approval of a 15 per cent ad valorem import duty on Premium Motor Spirit (PMS) and diesel, saying the measure will deter cheap foreign imports, safeguard domestic refiners, and bolster energy security.
In a confidential memorandum seen by LEADERSHIP Friday, dated 10 October 2025, and signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), and addressed to President Tinubu, the proposal sought approval for a “measured import tariff on PMS and diesel.”
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A subsequent memorandum dated 21 October 2025, with reference number PRES8197/HAGF/100/71/FIRS/40/88-2/NMDPRA/2, was circulated from the State House to the Attorney-General of the Federation, the FIRS, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).Read Original