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Nigerians groan over effects of 7.5% VAT on petrol prices

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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.

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Tinubu renews determination to conquer insecurity nationwide

Tinubu revealed that security cooperation formed a major part of his recent engagements abroad, particularly during his visit to the United Kingdom, adding that his government was prepared to leverage Nigeria’s goodwill and existing credit lines to acquire the needed support.

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President Bola Ahmed Tinubu said on Sunday that his administration is intensifying diplomatic engagements with world leaders to secure critical equipment and training support for Nigeria’s security and intelligence agencies as part of a renewed push to end insecurity across the country.

He disclosed this while receiving state governors who paid him a courtesy visit his Ikoyi residence in Lagos, where he observed the Eid-el-Fitr holidays after returning from his two-day state visit to the United Kingdom.

President Tinubu said that the discussions with international partners, including recent talks with French President Emmanuel Macron, were already yielding prospects for collaboration in strengthening Nigeria’s security architecture.

Tinubu revealed that security cooperation formed a major part of his recent engagements abroad, particularly during his visit to the United Kingdom, adding that his government was prepared to leverage Nigeria’s goodwill and existing credit lines to acquire the needed support.

“One of the major discussions in the UK is equipment and support. I can report to you that yesterday again, I had a lengthy discussion with Emmanuel Macron on their collaboration with us for equipment and support,” the President said.

He added that efforts were ongoing to reach out to other countries willing to assist Nigeria in combating insecurity through provision of modern tools and capacity building for security personnel.

“If we have to spend our goodwill and line of credit, we have those who are willing to support us with equipment and training,” Tinubu stated.

Describing insecurity as a direct threat to national development, the President stressed that tackling the menace remained a top priority for his administration, calling for collective action by all levels of government.

“Insecurity is an enemy of development, progress and prosperity. The next phase of our struggle is staring us in the face, and it is the challenge of insecurity in this country,” he said.

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Why I returned to school – Emir Sanusi

“A king who acquires education attains greater dignity, but a king without education—his entire kingship is worthless.”

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The 16th Emir of Kano, Muhammadu Sanusi II, has explained that his decision for returning to school to pursue an LL.B in Common Law and Shariah at Northwest University is aimed at inspiring others, rather than practicing law.

Emir Sanusi spoke during the traditional Sallah homage, Hawan Nassarawa, at the Kano Government House, emphasising that education should precede kingship.

“A king who acquires education attains greater dignity, but a king without education—his entire kingship is worthless,” he said.

The monarch praised the Kano State Government for prioritizing education, noting that 30 percent of the state budget has been allocated to the sector.

He also encouraged citizens to pursue further studies and support educational ambitions within their families, including those of their spouses.

” We appreciate the Governor for giving top priority to education. We have seen the impact through students’ performance in NECO, JAMB, and tertiary institutions. Whoever has not completed tertiary education should go back and do so,” he said.

Kano State Governor, Abba Yusuf, represented by Speaker Rt. Hon. Jibrin Falgore, commended Emir Sanusi for his support, describing him as a pillar of strength for the administration.

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Tinubu Returns to Lagos After Historic UK State Visit, to Spend Sallah Break

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President Bola Ahmed Tinubu has returned to Nigeria following a successful two-day state visit to the United Kingdom, arriving in Lagos alongside First Lady Senator Oluremi Tinubu.

The President is expected to spend the upcoming Sallah break in the city.

He received a warm welcome at the airport from senior government officials, including Chief of Staff Femi Gbajabiamila, with applause from gathered supporters and well-wishers.

The visit, hailed as historic and the first full state visit by a Nigerian president to the UK in nearly 40 years, aimed to deepen diplomatic, economic, and trade relations between the two countries.

Key engagements included a royal reception and state banquet hosted by King Charles III and Queen Camilla at Windsor Castle, as well as high-level bilateral talks with Prime Minister Keir Starmer at Downing Street.

A major achievement was President Tinubu witnessing the signing of a £746 million financing agreement backed by UK Export Finance (UKEF).

The deal, involving Nigeria’s Ministry of Finance, the Nigerian Ports Authority, Citi Bank, and other partners, will fund the modernization and refurbishment of two vital Lagos seaports: the Lagos Port Complex (Apapa) and the Tin Can Island Port Complex.

The project is designed to reduce congestion, improve efficiency with modern systems, boost Nigeria’s role as a leading maritime hub in West and Central Africa, and include commitments to sourcing components from the UK.

The engagements highlighted strengthened bilateral cooperation, record trade levels, and mutual interests in infrastructure development and sustainable growth.

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