This information was shared in a statement released on Thursday by George Ene-Ita, the Director of Public Affairs for the NMDPRA. Ene-Ita also urged Nigerians to refrain from panic buying of petroleum products.

The NMDPRA assured the public that the nation’s petroleum supply is currently adequate to satisfy the national demand.

Public Reassured of Sufficient Fuel Supply

They highlighted that both local refinery production and importation channels are operating smoothly, ensuring that fuel depots and filling stations remain well-stocked.

It stated that supplies from both local refineries and imports were stable and sufficient to ensure consistent availability at fuel depots and filling stations.

“The Authority wishes to assure the public that there is adequate supply of petroleum products in the country within acceptable national sufficiency levels,” the statement read in part.

The regulatory body also warned against hoarding or arbitrary price increases, stressing that there is no need for panic purchases amid rumours of new fuel taxes.

Background of the Proposed Duty

Earlier, the Federal Inland Revenue Service (FIRS) had suggested a 15 per cent import duty on petrol and diesel to boost domestic refining and reduce dependence on imported fuels.

While some industry experts supported the proposal, saying it would encourage investment in local refining—especially as the Dangote Refinery ramps up production—others strongly opposed it.

Critics argued that the measure would raise fuel prices and worsen the current economic hardship faced by Nigerians.

Although NMDPRA did not explain why the policy was suspended, it assured citizens that it would continue to monitor fuel supply and maintain energy security across the country.