President Bola Ahmed Tinubu has approved a 15% ad-valorem import duty on petrol and automotive diesel.
In a recent move that could be protective of local refining capacity, the president approved the levy increase as part of broader efforts to stabilise the downstream sector after years of heavy imports.
The directive was conveyed in a letter to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, signed on 21 October by the president's private secretary, Damilotun Aderemi.
The government says the duty applies to the cost, insurance, and freight (CIF) value of imported products.
The levy could raise the landing cost of imported petrol by roughly ₦100 to ₦175 per litre, depending on exchange rates and shipping costs.
