The Nigerian Government has suspended the implementation of a 15 per cent import duty on fuel and automotive gas oil.
Recall that the approval by President Bola Tinubu, late last month, of the implementation of a 15 per cent import duty on petrol and diesel, drew criticisms from stakeholders who said it would further worsen hardship for Nigerians as petrol and diesel prices would rise.
However, the spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, George Ene-Ita, announced the suspension this Thursday as he urged Nigerians to avoid panic buying of petrol and diesel.
He assured the public of adequate supply of petroleum products sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this peak demand period.