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FG Stops Implementation Of Planned 15% Import Duty On Diesel, Petrol
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By Kayode Sanni-Arewa
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Thursday said it is no longer considering implementing the planned 15 per cent duty on imported petroleum products.
The development was announced by the Director, Public Affairs Department, NMDPRA, George Ene-Ita, in a statement while warning the public to shun panic buying.
President Bola Tinubu, on the 29th of October, approved an import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
The President’s approval was conveyed in a letter signed by his Private Secretary, Damilotun Aderemi, following a proposal submitted by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji.
The proposal sought the application of a 15 per cent duty on the cost, insurance, and freight value of imported petrol and diesel to align import costs with domestic market realities
Implementation was slated to take effect on November 21, 2025.
The policy aimed to protect and promote local refineries like the Dangote Refinery and modular plants by making imported fuel more expensive.
While intended to boost local production, it is also expected to increase fuel costs, which could lead to higher inflation and transportation prices for consumers.
Experts have argued that the move could translate into higher pump prices for consumers, with some estimating an increase of up to ₦150 per litre or more.
In an update, however, NMDPRA said the government was no longer considering going ahead with implementing the petrol import duty.
“It should also be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit and Diesel is no longer in View”, the statement wrote in part.
Meanwhile, the NMDPRA also assured all that there is an adequate supply of petroleum products in the country, within the acceptable national sufficiency threshold, during this peak demand period.
“There is a robust domestic supply of petroleum products (AGO, PMS, LPG, etc) sourced from both local refineries and importation to ensure timely replenishment of stocks at storage depots and retail stations during this period.
“The Authority wishes to use this opportunity to advise against any hoarding, panic buying or non-market reflective escalation of prices of petroleum products.
“The Authority will continue to closely monitor the supply situation and take appropriate regulatory measures to prevent disruption of supply and distribution of petroleum products across the country, especially during this peak demand period.
“While appreciating the continued efforts of all stakeholders in the midstream and downstream value chain in ensuring a smooth and uninterrupted supply and distribution, the public is hereby assured of NMDPRA’s commitment to guarantee energy security,” the statement read.
The Federal Capital Territory Administration (FCTA) has commenced a city-wide desilting of drainage channels following heavy torrential rainfalls that triggered flash floods across parts of the nation’s capital.
Inspecting the ongoing clearance operations along the Airport Expressway on Thursday, Mr Richard Dauda, acting Executive Secretary of the Federal Capital Development Authority (FCDA), said the exercise was directed by the FCT Minister, Mr Nyesom Wike.
The directive followed a flash flood that flooded the Airport Expressway on Tuesday.
According to Dauda, the effort is to mitigate flood risks during the peak of the rainy season.
Dauda noted that while recent downpours align with earlier meteorological warnings and climate change trends, the Abuja Master Plan inherently recognises certain areas, including the Airport Expressway axis as flood plains.
He assured residents that while resilient infrastructure was originally built to handle high water volumes, human activities have severely compromised its efficiency.
“Some of these drainage facilities over time have been silted. Part of the cause is residents dumping refuse into drainage channels.
“When rain falls, it washes down polythene bags, waste, and even large objects that block the outlets,” he said.
Dauda highlighted two major human factors aggravating the flash floods: illegal development and widespread infrastructure vandalism.
Exposing a major choke point along the expressway, Dauda pointed to a triple-cell box culvert meant to discharge a powerful stream flowing from the Galadima Roundabout.
He explained that a private developer had illegally constricted the waterway further downstream by constructing retaining walls to expand a personal plot.
“What that causes is that the volume of water that ought to pass no longer passes, causing detention, backflow, and eventual flooding.
“To restore adequate discharge capacity, we must remove the structures built by this developer,” he said.
Dauda also decried the theft of metal gully inlet covers by vandals, which allows large debris to flow directly into underground drains instead of being sieved at the surface.
“When vandals steal these covers, it’s like stealing from yourself as a taxpayer,” he remarked.
To permanently curb the theft, he revealed that the FCDA is exploring replacement materials made from non-recyclable compounds rather than steel or cast iron.
The FCDA boss confirmed that workers were already desilting trapezoidal drains, U-channels, and culvert outlets along the Airport Expressway, with plans to reconstruct damaged points where necessary.
Dauda urged Abuja residents to stop dumping refuse into waterways, warning that government infrastructure can only protect the city if public cooperation is guaranteed.
The Federal Capital Territory Administration, FCTA has began disilting of accumulated silt, sand and other objects blocking drains are being removed.
Men from FCTA were captured on camera as they clear blockades caused by flood.
See photos below:
The Black Market Dollar-to-Naira Exchange Rate for 3rd September 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The exchange rate fluctuates hourly based on the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 3rd September 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1403 and buy at ₦1395 on Thursday, 3rd September, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1405
Buying Rate ₦1395
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1335
Lowest Rate ₦1326
Flooding: FCTA begins desilting of drains, warns against vandalism, illegal structures
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