Nigeria has approved a 15pc import tariff on gasoline and diesel to strengthen energy security and protect local refining, according to a signed government letter seen by Argus.
The tariff was proposed in a 10 October letter from the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to President Bola Tinubu and was approved on 21 October when the president signed the document. The letter describes the tariff as "not revenue driven but corrective", aimed at reinforcing national energy security, safeguarding local refining capacity, stabilising the downstream market and ensuring fair pricing.
The tariff will apply to the cost, insurance and freight (cif) value at discharge, adding 99.72 naira/litre (7¢/l). Even with this adjustment, estimated Lagos pump prices would remain "in the range of N964.72/l ($0.62), still significantly below regional averages", the letter said.
Payments must be made into a designated federal revenue account and linked to NMDPRA discharge clearance, with cargoes released only after proof of payment.
The tariff will raise costs for importers and influence regional trade flows, although Nigeria's reliance on gasoline imports has eased following the start of output from the 650,000 b/d Dangote refinery.
Implementation begins immediately, with a 30-day transition period for cargoes already in transit.
