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
Tinubu Vows to Crush Terrorism as FEC Reconvenes after Three Months
President Bola Ahmed Tinubu has, for the first time, spoken publicly since U.S. President Donald Trump redesignated Nigeria as a Country of Particular Concern over alleged religious persecution and issued threats of military action against terrorist groups in the region.
Speaking at the Federal Executive Council (FEC) meeting in Abuja on Thursday, President Tinubu avoided direct reference to President Trump but underscored Nigeria’s resilience and growing economic credibility. He cited the overwhelming success of the country’s recent $2.35 billion Eurobond, which was oversubscribed by 453 percent, as clear proof of “strong investor confidence despite political headwinds.”
“Nigeria remains open for business. The confidence of global investors in our economy is unshaken. We will continue to engage our international partners diplomatically while working tirelessly to defeat terrorism and build a peaceful, inclusive, and resilient nation,” Tinubu said.
The Coordinating Minister of the Economy and Minister of Finance, Wale Edun, briefed the council that the Eurobond attracted $13 billion in orders, describing it as a major milestone in Nigeria’s economic reform trajectory.
He added that the next phase of the administration’s reforms would focus on removing barriers to investment, reviewing tariffs and import restrictions, and improving fiscal discipline to ensure that the benefits of the reforms reach ordinary Nigerians.
Thursday’s FEC meeting marked the first in three months, with President Tinubu also swearing in two new ministers — Dr. Kingsley Tochukwu Udeh (SAN) from Enugu State and Bernard Doro from Plateau State — bringing the cabinet back to its full complement of 48 members.
The President reaffirmed his administration’s determination to crush terrorism and violent extremism, stating that no external pressure or political distraction would deter Nigeria from safeguarding its sovereignty and national security.
International
BREAKING: Tinubu Responds to Trump’s Threats, Swears in Two New Ministers
In a high-stakes moment for Nigeria’s diplomacy and domestic political agenda, President Bola Tinubu has spoken publicly for the first time in response to threats issued by U.S. President Donald Trump — at the same time swearing in two new ministers to his Cabinet.
President Trump recently directed U.S. military planning toward Nigeria, warning that American assistance could be cut off if Nigeria continues to “allow the killing of Christians” — and even suggesting the possibility of U.S. intervention.
In response, Tinubu’s office, via Minister of Information & National Orientation Mohammed Idris, announced that the president remains calm and is taking the matter “with the depth it requires”.
The government emphasised that Nigeria is engaging via multiple channels — including religious leaders, international organisations and regional bodies — to clarify its position and dispel narratives of religious intolerance.
Analysts say the seriousness of the U.S. approach underscores global concern about Nigeria’s security and religious-freedom situation.
At a Federal Executive Council (FEC) meeting held earlier today, President Tinubu swore in:
- Dr. Bernard Mohammed Doro (from Plateau State) to fill the vacant Ministry of Humanitarian Affairs & Poverty Reduction.
- Mr. Kingsley Tochukwu Udeh (SAN, from Enugu State) to fill the Ministry of Science, Technology & Innovation, following the resignation of his predecessor amid allegations of certificate forgery.
Their appointments were confirmed by the Senate and came at a moment of heightened domestic and international scrutiny.
News
Senate Confirms Kingsley Udeh as Minister of the Federal Republic
The Senate on Thursday confirmed Dr. Kingsley Tochukwu Udeh as a Minister of the Federal Republic of Nigeria, following his nomination by President Bola Tinubu.
The confirmation, which was carried out in line with Section 147(2) of the 1999 Constitution (as amended), came after Udeh successfully completed all required security screenings.
President Tinubu had, in a letter to the Senate earlier in the week, sought the lawmakers’ approval for Udeh’s appointment. With the confirmation, Udeh is now set to join the Federal Executive Council.
Udeh, a Senior Advocate of Nigeria and the current Attorney General of Enugu State, faced several questions during his screening. One question from Senator Abdul Ningi (Bauchi Central) sought his view on the ongoing diplomatic tension between Nigeria and the United States, following threats by former U.S. President Donald Trump to take military action in Nigeria over alleged persecution of Christians.
Before Udeh could respond, Senate President Godswill Akpabio humorously advised him to “dodge” the politically sensitive question.
When he eventually replied, Udeh offered a measured response, noting that the issue was being handled directly by President Tinubu and emphasizing that it was “more of a diplomatic matter than a legal one.”
He commended President Tinubu for revitalizing Nigeria’s foreign relations, stressing that sustained international cooperation is key to improving the country’s global image and advancing its national interests.
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