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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
Atiku’s Media Aide, Ifeanyi Izeze is Dead
The media office said that further details about Izeze’s burial would be made public by his family.
Atiku Media Office has announced the death of Ifeanyi Izeze, a member of the media team of former Vice President Atiku Abubakar.
In the statement , Izeze a prominent and pioneer member of the ex-VP’s media team died on Sunday.
“Ifeanyi Izeze joined the media team of the then Vice President Atiku Abubakar in 2006, from Aluminium Smelter Company of Nigeria (ALSCON), Ikot-Abasi as the Office Manager.
He brought to bear on the work of the media team at that critical stage of Atiku’s political career, his wealth of experience in the media, Niger Delta and Nigeria’s oil and gas industry.
Izeze trained as a geologist at the University of Port Harcourt up to postgraduate level, but carved a niche in journalism where he reported and wrote extensively on oil and gas industry in Nigeria for many years in the defunct Sunray, Anchor, and NewAge newspapers among others, before he joined ALSCON.
In the Atiku Media Office, Ifeanyi was a senior member of the team and its pioneer Office Manager who helped shape the campaign policies of the Atiku Presidential Campaigns in the Niger Delta, particularly in the oil and gas sectors,” the statement further reads.
Atiku Media Office described the deceased as a man with a prodigious sense of humour and a born-again Christian of the Christ Embassy.
The media office said that further details about Izeze’s burial would be made public by his family.
He left behind children, grandchildren and an elder and only surviving brother, Pastor Emeka Izeze of the Guardian Newspapers fame
News
Tinubu Pledges Support for Nigerian Media in Battle Against Big Tech.
...Vows Tariff Relief on Newsprint and Equipment. President Bola Ahmed Tinubu has thrown the full weight of his administration behind Nigeria’s media industry in its escalating fight against Big Tech’s dominance, unfair content usage, and crippling economic pressures, while promising to slash or eliminate import tariffs on essential production materials.
Speaking at a high-level interfaith dinner held at the State House on Friday, March 13, 2026, the President described the Nigerian press as an “indispensable partner” in the country’s drive for economic recovery, democratic consolidation, and national unity.
“We will help dismantle the fiscal hurdles and digital cannibalisation currently threatening the survival of the press,” Tinubu declared, assuring the delegation that his government is actively reviewing the national tariff exemption list.
Among the items under consideration for zero or reduced duty (currently 5–10%) are newsprint, printing plates, chemicals, and broadcast equipment for radio and television—materials the media sector has long argued should receive the same preferential treatment as educational and research imports.
“You have the government’s full support, because we know how important your work is to the sustenance of democracy,” the President told representatives of the Nigerian Press Organisation (NPO) and other leading industry bodies.
The closed-door meeting brought together a powerful cross-section of Nigeria’s media leadership, including:
– Lady Maiden Alex-Ibru, NPO President and Publisher of The Guardian
– Frank Aigbogun, NPAN Deputy President and Publisher of BusinessDay (who delivered the industry’s joint address)
– Aremo Olusegun Osoba (Vanguard)
– Sam Amuka (THISDAY/ARISE News)
– Prince Nduka Obaigbena (Channels Television)
– Dr John Momoh, Director-General of the Nigerian Television Authority (NTA)
– Leaders of the Nigerian Guild of Editors, Guild of Corporate Online Publishers (GOCOP), and Nigeria Union of Journalists (NUJ), among others.
In his presentation, Aigbogun accused unnamed global tech platforms widely understood to include Google and Meta of systematically “scraping” Nigerian journalistic content, frequently breaching paywalls, to train artificial intelligence models without compensation.
He claimed these practices are depriving local media houses of up to 70% of their legitimate advertising and syndication revenue losses running into hundreds of millions of dollars annually while triggering widespread job losses across newsrooms.
Aigbogun called on the President to instruct the Federal Competition and Consumer Protection Commission (FCCPC) to launch a formal investigation, in partnership with media stakeholders, into Big Tech’s alleged anti-competitive behaviour.
Minister of Information and National Orientation, Alhaji Mohammed Idris, told the gathering that preliminary engagements with major tech companies, including Meta and Google, are already in progress.
“The government will not allow anybody to come here, reap from our economy, and go away without giving back,” Idris said firmly.Vice President Kashim Shettima, together with several senior presidential aides, also attended the event.
The State House meeting follows an earlier January 2026 letter and public statement from the NPO highlighting the existential threat posed by unregulated digital platforms to Nigeria’s independent media ecosystem.
Industry observers view the President’s commitments as a potential turning point, offering both short-term cost relief through tariff adjustments and longer-term policy backing in the global push for fair revenue sharing between traditional media and dominant tech intermediaries.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
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