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
President Tinubu Cheers US, Nigerian troops elimination of ISIS top leaders, Lauds Trump (Video)
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.
President Bola Tinubu, strengthened by the US military Command vows more decisive strikes against all terrorist enclaves across the nation.
President Tinubu was reacting to Saturday’s overnight successful joint counterterrorism operation carried out by Nigerian and United States forces against an Islamic State hideout in the Lake Chad Basin which resulted in the elimination of a wanted Islamic State senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, alongside several of his lieutenants.
In a State House statement issued on Saturday by Bayo Onanuga, the president’s aide, Tinubu said “Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.
The president stated that early assessments confirmed that the strike targeted the terrorist leader’s compound in the Lake Chad Basin.
Tinubu however expressed appreciation to the United States for supporting Nigeria’s counterterrorism efforts and advancing shared security objectives.
The president also thanked Donald Trump for what he described as leadership and unwavering support in the operation, saying, “I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort.”
He further commended military personnel from both countries for their professionalism and courage during the operation.
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.
Watch Video below:
News
Many Trapped in Abuja Collapsed Building , 3 Dead (Video)
Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.
Tragedy struck in the Durumi 3 area near Gudu Market, Abuja, after a three-storey building under construction collapsed on Saturday moring leaving at least three persons dead.
Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.
Three bodies had been evacuated as of the time of filing this report, while rescue efforts were still ongoing to save other victims trapped beneath the rubble.
Officials and emergency responders were seen at the scene carrying out search-and-rescue operations as anxious residents gathered around the area.
The cause of the collapse is yet to be officially confirmed at the time of this report.
Watch video below:
News
President Tinubu returns to Lagos ahead of APC primaries tomorrow (Video)
Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.
• President Tinubu chats with African business leaders during the African CEO Forum in Nairobi, Kenya.
President Bola Tinubu on Friday arrived in Lagos after a three-nation visit to France, Kenya and Rwanda.
Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.
A statement issued by his special adviser on information and strategy, Bayo Onanuga, said that the president was received by Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor, Femi Hamzat; Chief of Staff to the President, Femi Gbajabiamila; Speaker of the Lagos State House of Assembly, Mudashiru Obasa; and other government officials.
President Tinubu, while in France, met with global investors, emphasising transparency and fiscal discipline and explaining the rationale for the swift implementation of the bold economic reforms his administration has instituted.
Watch Video below:
President Tinubu Cheers US, Nigerian troops elimination of ISIS top leaders, Lauds Trump (Video)
Many Trapped in Abuja Collapsed Building , 3 Dead (Video)
President Tinubu returns to Lagos ahead of APC primaries tomorrow (Video)
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News3 days agoEFCC Invasion Forces Uni. Uyo Teaching Hospital to Suspend Operations (Video)
-
Sports3 days agoUS Relaxes Visa Rules to Boost Travel for 2026 FIFA World Cup
-
News1 day agoAnxiety as chemical pollution affects 6 Ogun schools, 90 students
-
Business1 day agoBUA Chairman Rabiu shares South Africa visa entry denial experience at Africa CEO Forum
-
News1 day agoNJC Recommends Elevation of 12 Judges to Court of Appeal, Includes Omotosho and Nwite
-
Crime1 day agoWoman Jailed 20 Years for Transporting 302 AK-47 Rounds to Bandits
-
News1 day agoNJC Suspends Two Judges for One Year Without Pay
-
Entertainment1 day agoNFVCB Approves 304 Nollywood’s New Films