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.
The grandson of Late Chief Obafemi Awolowo, known as Olusegun Awolowo is dead.
His passing was announced today by the Awolowo family in a statement.
The statement reads:
Statement on the Passing of Olusegun Awolowo
“With extremely heavy hearts, we announce the passing of our beloved husband, father and grandfather- Olusegun Awolowo.
“He was the world’s most phenomenal husband, father and grandfather — steady, wise, endlessly loving, and the constant anchor of our family.
A painfully loyal servant to Nigeria, he dedicated his life to the service of his country with vision, integrity, passion, and unwavering commitment.
He was a true family man, a great friend, a wonderful servant of God, and a deeply beautiful human being.
“He loved his family.
He loved his work.
He loved his country.
And he lived every day with purpose, humility, and a generous spirit that touched everyone who knew him.
“We are shattered by this loss, but forever grateful for his life, his legacy, and the love he poured into all of us. May his gentle soul rest in perfect peace.”
The statement added that “THE FAMILY WILL RECEIVE CONDOLENCES AT HIS RESIDENCE BETWEEN 2 – 4 PM DAILY.”
……Kanu’s Lawyer Ejimakor reveals next move after court judgment
Nnamdi Kanu’s legal team has vowed to appeal his life imprisonment sentence, insisting that the judgment delivered by Justice James Omotosho of the Federal High Court “does not hold water.
”Speaking to reporters shortly after the verdict, Kanu’s lawyer, Aloy Ejimakor, a consultant on the case, said they would take the matter to the Court of Appeal.
Ejimakor questioned the basis of the conviction, arguing that a man cannot be jailed for mere spoken words.
“What kind of precedent is being laid here? We are heading to the Court of Appeal,” he said.
“The Court of Appeal is the next forum in this country that sits as a jury. We will approach the justices to review what happened today, and we are confident they will see this as a travesty of justice.
”He added that if the Court of Appeal rules against them, they would proceed to the Supreme Court.
“Nnamdi Kanu is not going to stand convicted. The decision will be overturned,” he said.Ejimakor criticised the ruling as inconsistent with the evidence presented.
“This is the only day I have witnessed a man being convicted for mere pronouncements, for what he said, not for any act he committed.
“The sentence is overbroad, cruel, and unusual. How can someone be convicted for a broadcast from a location that was never named, without linking it to any act of violence or terrorism?,” he questioned.
The Federal High Court in Abuja has sentenced the leader of the Indigenous People of Biafra, Nnamdi Kanu, to life imprisonment.
The presiding judge, Justice James Omotosho, handed down the sentence on counts one, four, five, and six, opting for life imprisonment instead of the death penalty.
The court said it was satisfied that Kanu made series of broadcasts to incite violence and killings, in furtherance of his separatist agitation for Biafra.
Trial Justice James Omotosho based his decision on what he described as “uncontroverted evidence” that was adduced before the court by the prosecution.
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BREAKING: Grandson of Chief Obafemi Awolowo, Olusegun Awolowo, is dead.
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