By Obinna Uballa
Oil marketers and downstream operators have applauded President Bola Tinubu’s decision to shift the implementation of the proposed 15 per cent import duty on petrol and diesel to the first quarter of 2026, describing the move as timely, pragmatic, and crucial in preventing a fresh wave of fuel price increases and inflation.
The decision followed a formal request to the President from the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, after wide consultations with industry stakeholders, at was gathered.
Although the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had earlier announced the suspension of the duty, newly obtained documents confirm that Tinubu approved a deferment – not an indefinite suspension – pushing the rollout into early 2026 for further review.
The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said the suspension of the tariff shows the government is listening to industry concerns and sensitive to the economic realities faced by Nigerians.
“Fifteen per cent at this time would have been excessive,” Gillis-Harry said. “The government has wisely suspended it after assessing its potential impact. That is the essence of governance – testing, analysing, and acting in the best interest of citizens.”
He added that while import duty is not inherently harmful, introducing it now, when Nigeria is still battling inflation, would have triggered an avoidable increase in pump prices.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) also welcomed the move, saying it has shielded consumers from inflationary pressures and preserved market balance.
“IPMAN commends Mr President for the suspension of the tax,” National Publicity Secretary Chinedu Ukadike said. “It would have indirectly fuelled inflation and distorted market forces. This is a people-centred decision.”
