BREAKING: Tinubu approves 15% import responsibility on petrol and diesel — gas costs anticipated to rise
Tinubu Approves 15% Import Obligation on Petrol and Diesel, Gasoline Costs Set to Surge
President Bola Tinubu has authorised the introduction of a 15% ad-valorem import responsibility on diesel and petrol (PMS) — a transfer anticipated to lift gas costs nationwide by practically ₦100 per litre.
The choice, communicated by way of a letter dated October 21, 2025, was signed by Damilotun Aderemi, the President’s Non-public Secretary, and addressed to each the Federal Inland Income Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
In response to the directive, the approval adopted a request from FIRS to use the responsibility on the value, insurance coverage, and freight (CIF) worth of imported gas, aligning importation prices with home market circumstances and boosting non-oil income.
Financial analysts warn that the brand new coverage may push the pump worth of petrol near ₦1,000 per litre, intensifying stress on transportation, small companies, and family bills amid ongoing inflation and a weakening naira.
Authorities officers, nevertheless, defend the choice as a part of a broader fiscal technique to improve income, cut back borrowing, and guarantee higher transparency in gas importation.
Each FIRS and NMDPRA have been directed to implement the coverage instantly, with monitoring measures in place to make sure compliance.
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