Tinubu Approves 15% Import Duty On Fuel Products

President Bola Tinubu has given approval for a 15 percent ad-valorem import duty to be imposed on petrol and diesel, a move expected to affect the landing cost and possibly pump prices across the country.

The approval was contained in a letter dated October 21, 2025, and signed by Damilotun Aderemi, the President’s Private Secretary. The directive was addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to the correspondence, the decision followed a proposal from FIRS to apply the 15 percent duty on the cost, insurance, and freight (CIF) value of imported Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO). The tax agency explained that the measure was designed to align import costs with the country’s current economic realities.

“The President has approved the application of 15 percent ad-valorem import duty on the cost, insurance, and freight (CIF) value of imported diesel and premium motor spirit (PMS),” the letter stated.

With the new tariff, the landing cost of petrol is projected to rise by about ₦99.72 per litre, which could trigger an increase in retail pump prices nationwide.

As of press time, neither the FIRS nor the NMDPRA had issued a statement confirming when the policy would take effect.