News

Nigerians groan over effects of 7.5% VAT on petrol prices

Published

3 years ago

June 19, 2023

502 Views

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

Eid-ul-Adha: FG declares Wednesday, Thursday public holidays

Tunji-Ojo conveyed the warm felicitations of the Federal Government to all Muslim faithful in Nigeria and throughout the diaspora, describing Eid ul Adha as a festival of deep spiritual significance rooted in the values of sacrifice, obedience to God, and compassion for one’s fellow man.

Published

4 hours ago

May 25, 2026

OCHEFA

18 Views

The Federal Government has declared Wednesday, 27th May and Thursday, 28th May, 2026, as public holidays to mark the celebration of Eid ul Adha.

The announcement was made by the minister of interior, Dr Olubunmi Tunji-Ojo, in a statement signed by the permanent secretary of the ministry of interior, Dr Magdalene Ajani, on Monday in Abuja.

The declaration, according to the statement, reflects the federal government’s respect for the faith and spiritual heritage of millions of Nigerian Muslims joining the global Islamic community in observing the sacred occasion.

The federal government urged all Nigerians to use the period for prayer and sober reflection, seeking divine guidance upon the country as it presses ahead in its pursuit of peace, security, and prosperity for every citizen.

News

Humanitarian Services: NEMA distributes relief materials to victims of terrorist attacks in 2 Niger communities

Published

13 hours ago

May 25, 2026

Charles Flames

26 Views

The National Emergency Management Agency (NEMA) has distributed relief materials to victims of terrorist attacks in the Allawa and Bagna communities of the Shiroro Local Government Area in Niger State.

The distribution exercise was conducted at the Mutum Daya community in Shiroro local government area, in collaboration with the Niger State Emergency Management Agency, where community members were also sensitised on safety precautions in respect to the 2026 Seasonal Climate Prediction by the Nigerian Meteorological Agency and the Annual Flood Outlook by the Nigeria Hydrological Services Agency.

Terrorists in April attacked Bagna, Erena, Yelwa and neighbouring communities, killing residents and vigilante members, burning houses and displacing several families forcing some of the community members to flee.

The Head of NEMA’s Minna Operations Office, Hussaini Isah, stated that the intervention aimed to provide humanitarian support and alleviate the hardship faced by vulnerable persons affected by the attacks.

Isah said the distribution was organised according to the affected communities to ensure fairness, transparency and orderly conduct.

Abdullahi Baba-Arah. DG, Niger State Emergency Management Agency

Both the Village Head of Allawa, Ibrahim Salihu, and his Bagna counterpart, Bitrus Leo and some beneficiaries appreciated the Federal Government and NEMA for the timely intervention, saying the relief materials had restored hope to vulnerable households affected by the attacks.

Items distributed include 1,000 bags of 25 kg rice, 1,000 bags of 25 kg beans, 1,000 cartons of spaghetti, 100 cartons each of seasoning, vegetable oil, tomato paste and iodised salt.

NEMA also used the medium to advise residents to avoid farming, building houses and carrying out business activities along waterways and flood-prone areas due to the risk of severe and localised flooding predicted for 2026 by the Nigerian Meteorological Agency and the Annual Flood Outlook by the Nigeria Hydrological Services Agency.

News

HAPPENING NOW: Blackout hits Abuja, Embassies affected

Published

2 days ago

May 23, 2026

Charles Flames

36 Views

The Abuja Electricity Distribution Company (AEDC) has announced power outage in various parts of Abuja including hotels and diplomatic buildings.

The AEDC made the announcement in its verified X handle today.

It said the blackout also affected Bolingo Hotel, Wada Maida Building, which houses the headquarters of Sudan, Egypt embassies, Envoy Hotel, the European Union embassy, among others.

The other places affected by the blackout are the National Planning Commission (NPC), the National Hospital, and the Turkish, Pakistani, and Indian embassies.

“Also, Garki Area One, Two, Three, Seven and Eight; Garki village; Garki market; Ubiaja Street; Kaltungo Street; and Lagos Street have been affected.

“Also affected are Oka Akoko Street, Treasury House, Karibu Hotel, and part of Asokoro, such as Yakubu Gowon Street.

“Similarly, Imo Government Lodges, Gado Nasko Street, Justice Sowemimo, Hassan Musa Katsina Streets, part of Jasse Martin, NIA, and TY Danjuma Street are without power supply.

“It said also affected are Lugbe, Jedo, Forte Royal, Back Of Dunamics, Customs Quarters, Aviation Village Piwoye Kapwa Ok Water, Nicomsat, Korean School and Nnamdi Azikiwe International Airport,”.

It attributed the power outage to a technical fault.

“The technical team of the Transmission Company of Nigeria (TCN) is currently working to restore the power supply.

“We regret the inconvenience this may cause and appreciate your patience and understanding,” AEDC said.