Tinubu approves 15% import duty on petrol, diesel

Tinubu

President Bola Tinubu has approved the introduction of a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria.

The initiative is aimed at protecting local refineries and stabilising the downstream market, but it is likely to raise pump prices.

In a letter dated October 21, 2025, reported publicly on October 30, 2025, and addressed to the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Tinubu directed immediate implementation of the tariff as part of what the government described as a “market-responsive import tariff framework.”

The letter, signed by his Private Secretary, Damilotun Aderemi, and obtained by our correspondent on Wednesday, conveyed the President’s approval following a proposal by the Executive Chairman of the FIRS, Zacch Adedeji. Punch