News

Nigerians groan over effects of 7.5% VAT on petrol prices

Published

3 years ago

June 19, 2023

275 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

President Tinubu’s visiting Turkiye tomorrow

The visit is aimed at strengthening the existing cordial relations between the two countries and exploring further areas of cooperation in security, education, social development, innovation, and aviation.

Published

11 hours ago

January 25, 2026

OCHEFA

13 Views

President Bola Ahmed Tinubu will depart Abuja on Monday, January 26, for a state visit to the Republic of Türkiye.

Turkish President Recep Tayyip Erdogan paid an official visit to Nigeria from October 19 to 20, 2021.

Bayo Onanuga , Special Adviser to the President(Information & Strategy), said that during President Tinubu’s visit, both countries will engage in strategic political and diplomatic discussions on shared values in finance, communication, trade and investment.

The agenda will include meetings between high-ranking officials of both nations and the signing of memoranda of understanding (MoUs) in scientific research, energy, technical cooperation, media and communications, military cooperation and protocol, among others.

A business forum will bring together investors from both countries to explore areas of interest during the visit.

Members of the President’s entourage participating in the bilateral discussions include: Minister of Foreign Affairs, Ambassador Yusuf Tuggar; Attorney General and Minister of Justice, Prince Lateef Fagbemi SAN; Minister of Defence, General Christopher Musa (rtd) and Chairman, House Committee on Defence, Hon. Jimi Benson.

Others are: Minister of Women Affairs and Social Development, Hajiya Imaan Suleiman-Ibrahim; Minister of Interior, Olubunmi Tunji-Ojo; Minister of Culture and Creative Economy, Hannatu Musawa; National Security Adviser, Malam Nuhu Ribadu; and Director-General of the National Intelligence Agency, Ambassador Mohammed Mohammed.

President Tinubu is expected to return to the country at the conclusion of the visit.

News

Lagos Fire Service Contains Warehouse Fire at Amuwo-Odofin Industrial Area (Photos)

Published

18 hours ago

January 25, 2026

Charles Flames

19 Views

The Lagos State Fire and Rescue Service (LSFRS) responded to a distress call at 20:29 hours regarding a fire outbreak at an expansive warehouse located on Coker Market Road, Amuwo-Odofin Industrial Layout, Mile 2, Lagos.

Firefighting crews arrived the scene promptly at 20:40 hours. Firefighters from the Ajegunle, Sari Iganmu, Okota, and Alausa Fire Stations were immediately mobilised to combat the blaze.

The affected warehouse was stocked with chemical materials stored in hundreds of 200-litre drums, posing significant risk.

Through swift and coordinated intervention, the fire was brought under control, preventing further escalation and damage to adjoining facilities. Fortunately, no casualties were recorded.

The cause of the fire outbreak is yet to be ascertained, as investigations are currently ongoing to determine the circumstances surrounding the incident.

The Lagos State Fire and Rescue Service reiterates its commitment to safeguarding lives and property and urges residents and business owners to adhere strictly to fire safety regulations at all times.

News

Senator Oluremi Tinubu Calls for Human-Centered Approach to AI in Education on International Day of Education 2026

Published

19 hours ago

January 25, 2026

Charles Flames

24 Views

In a message issued to mark the International Day of Education, Her Excellency Senator Oluremi Tinubu, First Lady of the Federal Republic of Nigeria, urged Nigerians and the global community to prioritize human agency amid the rise of artificial intelligence in learning environments.

This year’s observance, held annually on January 24 under United Nations auspices, carries the theme “AI and Education: Preserving Human Agency in a World of Automation.”

The First Lady emphasized that education continues to serve as the most powerful instrument for equipping individuals with knowledge, values, creativity, and ethical judgment essential for success in a fast-changing, technology-driven era.

“As we embrace artificial intelligence and innovation, we must ensure that technology serves humanity, not the other way around,” Senator Tinubu stated.

“Humans must remain the drivers of AI, harnessing innovation while preserving the values that define us and sustain development.

”Highlighting Nigeria’s national priorities, she reaffirmed the government’s commitment to investing in quality and inclusive education that enables children and youth to develop critical thinking, act with responsibility, and approach the future with confidence and compassion.

The First Lady’s message aligns with broader global discussions on balancing technological advancement with the irreplaceable role of human insight in education systems.

She concluded her address with warm greetings:

“Happy International Day of Education 2026.