News
Nigerians groan over effects of 7.5% VAT on petrol prices
Nigerians have begun to lament the effects of the introduction of a 7.5 per cent Value-Added Tax on the price of premium motor spirit, otherwise known as petrol.
This comes barely a month after President Bola Tinubu removed the subsidy on petrol during his inaugural speech on May 29, raising the price of PMS from N188 to about N580 in different states of the federation.
Recall that the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced that the Finance Act 2020 raised the previous 5 per cent VAT of the country to 7.5 per cent on commodities including automobile gas oil and it was implemented on February 20, 2020.
But the VAT-exempt items include honey, bread, cereals, cooking oils, culinary herbs, fish, flour, starch, fruits, meat, poultry, milk, nuts, pulses, roots, salt, vegetables, water, sanitary pads, tampons, tertiary, secondary, primary and nursery tuition.
While other commodities have been VAT-compliant, PMS was not until recently because it was being subsidised by the Federal Government.
However, the new development has hit Nigerians hard, as many have called for an utmost review of it, especially because of the recent removal of fuel subsidies.
See reactions below:
A user, Ingawa said, “That means for every litre of AGO you will buy, you have to pay 7.5% Consumer Tax (VAT) of the Pump Price. For example; If 1 litre of AGO is N650 at the filling station, then you have to pay an additional N48.75 being payment for 7.5% VAT. The total price per litre will be N698.75 per litre.”
Another user, Angry Non-Nigerian, said, “When Tinubu said ‘widen the tax net, you people thought he was joking. The only thing that man knows is tax, tax and tax. As Lagosians.”
One Oyo said, “The Citizens will be the main IGR for this government. There is no single move to cut the cost of government from the Senate to the House to other departments. They went to education first by trying to add tuition fees, now 7.5% VAT on PMS. Everything directly to the common man.”
Akwa Ibom 1st son opined, “So after the removal of subsidy and the price of fuel jumped to 530, they’ve now decided to add 7.5%. VAT on AGO. In all of these, what are the politicians losing, and what are they sacrificing?”
“7.5% VAT on diesel after subsidy on petrol was removed? They will show you people shege banza pro max air 2. The government is after our lives bro!.
“Even those that were shouting ‘Akanbi’ will not be left out. They might even end up being the most affected. The evil will go round. I swear!
“Good governance is not attained by wishful thoughts, things don’t work that way. Now, Tinubu is going for a check-up after ruining the economy with senseless policies.
“His supporters have been crying since last week because the pressure is going around. We must all learn a lesson,” Madu Obi wrote.
News
VP Shettima Representing Nigeria At G20 Leaders’ Summit
President Tinubu would have been there in person for participation but shelved the plan owing to the recent abduction incidents in Kebbi, Kwara and Niger State.
Vice President Kashim Shettima departed Abuja today to represent President Bola Tinubu at the G20 Leaders’ Summit in Johannesburg, South Africa.
The Summit, scheduled to take place from Saturday, November 22nd, to Sunday, November 23rd, at the Johannesburg Expo Centre, brings together leaders from the world’s top 20 economies, including the European Union, the African Union, financial institutions, among others.
President Tinubu would have been there in person for participation but shelved the plan owing to the recent abduction incidents in Kebbi, Kwara and Niger State.
Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications (Office of TheVice President), disclosed that President Cyril Ramaphosa, the South African leader who also serves as the current President of the G20 group had invited his Nigerian counterpart to participate in this year’s edition.
The Vice President will return to Nigeria at the end of the engagements.
News
Governor Soludo consoles Awolowo’s family over Segun’s death
In July 2021, Mr. Awolowo was unanimously elected President of the National Trade Promotion Organisations for ECOWAS member states, proving that his untiring passion for advancing Nigeria’s position in global markets will be sorely missed.
The Governor of Anambra State Government, Professor Chukwuma Charles Soludo, has conveyed his sincere condolences to the Awolowo family, friends, and associates of Mr. Segun Awolowo Jnr, who died the previous day at the age of 62.
In his condolence message, Governor Soludo extolled Mr. Segun Awolowo as a renowned lawyer, national patriot and prominent figure within the investment and export sector of Nigeria and Africa, who stood for excellence and dedication in public service.
As a grandson of the sage and illustrious Chief Obafemi Awolowo, he embodied the principles of integrity, service, and leadership that his grandfather championed throughout his life.
He was not only a proud scion of the Awolowo dynasty but also a vital contributor to Nigeria’s economic landscape, working tirelessly to elevate the standards of trade and investment across the continent.
The Governor noted that throughout his distinguished career, Segun Awolowo Jnr, who served diligently as the Executive Director of the Nigerian Export Promotion Council from 2013 to 2021, championed initiatives aimed at fostering economic growth and sustainable development in Nigeria.
His commitment to entrepreneurship and innovation inspired countless individuals and businesses, reinforcing the role of the private sector in driving national progress.
In July 2021, Mr. Awolowo was unanimously elected President of the National Trade Promotion Organisations for ECOWAS member states, proving that his untiring passion for advancing Nigeria’s position in global markets will be sorely missed.
Thus his passing is a significant loss, not only for his family but for our nation and Africa at large.
Therefore, Governor Soludo condoles with the Awolowo family, Ogun State government, friends and associates of Mr. Segun Awolowo Jnr on his painful death.
Crime
JUST IN: Terrorists kidnap students, teachers from Niger boarding school
Terrorists have attacked St Mary’s School, a Catholic-owned institution in Papiri community, Agwara Local Government Area of Niger State, and abducted an unconfirmed number of students and staff.
The attack took place in the early hours of Friday.
Local officials said the school was compiling its records and could not yet determine the number of people taken.
A source in one of the Catholic churches in Niger State confirmed the incident, stating that the church would issue an official statement after completing its investigation.
The Head of Department for Disaster and Relief in Agwara Local Government, Ahmed Rofia, also confirmed the attack.
He said the gunmen invaded the school between 2 a.m. and 3 a.m. and that authorities were still assessing the scale of the abductions.
Spokesperson of the Niger State Police Command, Wasiu Abiodun said he was aware of the enquiry and would provide details when available. “I know what you are calling. I will get the details and get back to you,” he said.

When pressed to confirm the incident, he added, “I need to get the details before. I will get back to you. Just give me time.
”Papiri is about 70 kilometers from Babana axis, where Jama’at Nusrat al-Islam wal-Muslimin (JNIM), an al-Qaeda affiliate in the Sahel, announced its presence in July.
The abduction happened less than a week after a similar abduction of schoolgirls in Kebbi State.Papiri town is one of the 10 political wards in the Agwara Local Government Area of Niger State.
A source in Rofia, a town 30 kilometres away from where the incident happened, also confirmed the incident.
The source whose name has been withheld for security reasons said residents of the town estimated that the terrorists came with 60 motorcycles and a van.
“They packed the students and their teachers in the van and went away with them,” he said.
Bello Gidi, the spokesperson for Agwara Local Government Chairperson Ilyasu Zakari, confirmed the attack, stating that efforts are ongoing to gather “factual details of the incident.
”The raid occurred days after 25 students were kidnapped in Maga, Kebbi State, adding to rising concern over attacks on schools in the region.
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