National News
BREAKING: Tinubu imposes 15% import levy on PMS, Diesel
President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), popularly known as petrol.
In a letter dated October 21, 2025, Damilotun Aderemi, the president’s private secretary, conveyed the approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The approval followed a request by the FIRS to apply a 15 percent duty on the cost, insurance, and freight (CIF) value of petroleum imports, in a move aimed at aligning import costs with current domestic market realities.
Read Also: Convicted husband killer Maryam Sanda to spend six years in jail as Tinubu reviews clemency
According to the communication, the new import duty is projected to increase the pump price of petrol by about N99.72 per litre.
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