President Bola Tinubu has approved a 15% import duty on diesel and petrol.
The approval was confirmed in a letter dated October 21, 2025, sent by Damilotun Aderemi, the President’s private secretary, to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This decision followed a request from FIRS to apply the 15% duty on the cost, insurance, and freight (CIF) value of imported fuel, so that import costs match current local economic conditions.
With this new duty, the price of petrol is expected to increase by about N99.72 per litre.
