The federal government of Nigeria has approved a 15 percent ad-valorem import tariff on Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel), a move designed to protect local refiners, including the Dangote and modular refineries, from cheaper imports and to strengthen domestic energy security.
In a confidential memorandum seen by BusinessDay dated October 10, 2025, signed by Zacch Adedeji, the chairman of the Federal Inland Revenue Service (FIRS), and addressed to Tinubu, the proposal sought approval for a “measured import tariff on P
