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
Olubadan Ladoja tables top three national priorities for Tinubu to defeat
The visit, which took place less than four months after Ladoja’s installation as the 44th Olubadan, was the monarch’s first official meeting with the president since he ascended the throne.
•Oba Rashidi Adewolu Ladoja, and President Bola Tinubu / State House Photo
The traditional ruler of Ibadan, Oba Rashidi Adewolu Ladoja, has expressed support for President Bola Tinubu’s leadership, but warned that insecurity remains Nigeria’s most urgent national challenge.
The Olubadan was hosted today by President Bola Tinubu at the Presidential Villa in Abuja.
The visit, which took place less than four months after Ladoja’s installation as the 44th Olubadan, was the monarch’s first official meeting with the president since he ascended the throne.
It also came a day after Oyo State Governor Seyi Makinde was received by Tinubu at the State House.
Oba Ladoja told President Tinubu that farmers are increasingly afraid to go to their farms, describing the spread of insecurity as a growing threat to livelihoods and food security, including in southern Nigeria.
While praising the President’s track record and governance style, the Monarch stressed that restoring safety, improving healthcare, and addressing food shortages must remain top priorities.
He, however expresses hope that current reforms will deliver tangible results by 2031.
Before he ascended the Olubadan throne, Ladoja served as the Governor of Oyo State between May 2003 and January 2006 under the platform of the Peoples Democratic Party.
Oba Ladoja became Olubadan in September 2025 following the death of his predecessor, Oba Owolabi Olakulehin, who died in July after a short reign.
His emergence followed Ibadan’s traditional succession arrangement, which rotates the stool between the civil (Egbe Agba) and military (Balogun) lines. Olakulehin hailed from the Balogun line, making Ladoja’s succession from the civil line consistent with established custom.
Before he became the Olubadan, Ladoja occupied the position of Otun Olubadan, a role he assumed in August 2024 and which placed him next in line to the throne.
News
Reps minority caucus confirms authentic version of tax laws passed by NASS were altered
This is a clear case of the Executive undermining legislative powers by illegally altering an already passed law to drag more taxpayers into the net,” the report read.
The House of Representatives Minority Caucus said that its investigation has confirmed that the tax federal government’s tax reform laws were altered after they had been passed by the National Assembly.
“This is a clear case of the Executive undermining legislative powers by illegally altering an already passed law to drag more taxpayers into the net,” the Cacus said, warning that the actions amount to a direct assault on the constitutional authority of the National Assembly and a threat to democratic governance.
In an interim report, released on Friday the Cacus, under the leadership of Kingsley Chinda, said that it set up a 7-man Fact-finding Committee on January 2nd “to get to the root of the scandal” after public outrage over allegations of discrepancies in the passed and gazetted tax.
The ad-hoc committee set up by the caucus is independent of the committee set up by the House leadership.
It is led by Afam Victor Ogene. Other members of the committee include Aliyu Garu – Bauchi, Stanley Adedeji – Oyo, Ibe Osonwa – Abia, Hon. Marie Ebikake – Bayelsa, MB Shehu Fagge – Kano and Gaza Gbefwi Jonathan – Nasarawa.
The Cacus said that as part of its investigations, it’s Ad-hoc committee compared the Certified True Copies of the Acts released officially by the House of Representatives as directed by the Speaker, with the already gazetted version already in circulation before the alarm was raised by the House, and confirmed that there were some alterations as alleged by Dasuki on the floor of the House of Representatives, especially in the Nigeria Tax Administration Act, 2025;
The Cacus also confirmed that there were three different versions of the documents in circulation, particularly the Nigeria Tax Administration Act, 2025.
According to the interim report by the caucus, the Nigeria Tax Administration Act (NTAA), 2025, has a number of discrepancies from the version passed by the National Assembly and the version earlier published in the official gazette. These discrepancies are obvious, going by the released Certified True Copies (CTCs) by the House referenced earlier.
..i. Section 29(1): On Reporting Thresholds: While the NASS Certified version provided for a tax compliance reporting threshold of N50 million for individuals and N100 million for companies, the gazetted version lowered the reporting thresholds for individuals to (N25 million from N50 million) and (N100 million from N250 million) for companies.
ii. Section 41: Introducing new subsections (8) and (9) prescribing a mandatory 20% Deposit for Appeals:The gazetted version introduced new subsections 41(8) and 41(9), which required taxpayers to deposit 20% of the disputed tax amount as a condition for appealing Tax Appeal Tribunal (TAT) decisions to the High Court.
These sections were not in the authentic version passed by NASS.
News
TCN records National grid collapses first time in 2026
The Transmission Company of Nigeria (TCN), which manages the national grid, had yet to disclose the cause of the collapse as of the time of filing this report.
The national grid collapsed on Friday for the first time in 2026.
The system failure occurred around 1 pm, when load allocation to all electricity distribution companies (DisCos) fell to zero.
Data obtained from the Nigerian Independent System Operator (NISO) showed that power generation dropped to zero megawatts (MW), leading to a total shutdown of electricity supply across the country.
A review of the national distribution load profile at the time of the incident indicated that all DisCos — including Abuja, Eko, Benin, Enugu, Ibadan, Ikeja, Jos, Kano, Kaduna, Port Harcourt and Yola — recorded zero load, confirming a nationwide outage.
The collapse came shortly after grid operators reported strong electricity demand in major urban centres.
Before the system failure, Abuja Electricity Distribution Company was receiving about 639 MW, while Ikeja Electric drew approximately 630 MW, reflecting what officials described as robust demand across key cities.
The Transmission Company of Nigeria (TCN), which manages the national grid, had yet to disclose the cause of the collapse as of the time of filing this report.
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