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
Sylva Seeks Audience With EFCC
He said that he was deeply surprised and profoundly unsettled to learn through a public announcement that he had been declared wanted despite his well-known disposition towards cooperation with lawful authorities.
Chief Timipre Sylva, former Minister of State for Petroleum, has written to the Economic and Financial Crime Commission (EFCC) asking the commission to give him a date for his appearance.
The former Governor of Bayelsa State in a letter he personally signed and addressed to the Chairman of the commission particularly frowned at the move by the EFCC to declare him wanted over an alleged $14.8million fraud.
Sylva in the letter dated November 24th but was received and acknowledged by the EFCC on November 26th and made available to newsmen on Wednesday, however, informed the commission that he was currently receiving an urgent medical care for a life-threatening condition.
He said that he was deeply surprised and profoundly unsettled to learn through a public announcement that he had been declared wanted despite his well-known disposition towards cooperation with lawful authorities.
The letter reads:”In view of the foregoing, I most humbly request that a mutually agreed date be set subject to medical clearance to enable me appear physically and formally.
News
Tinubu nominates ambassadors for U.S, UK, France
The nominees are Kayode Are of Ogun state, Aminu Dalhatu of Jigawa state, and Ayodele Oke of Oyo state.
President Bola Tinubu on Wednesday nominated three non-career ambassadors to the United States of America, UK, and France, and urges the Senate to confirm the appointments .
The nominees are Kayode Are of Ogun state, Aminu Dalhatu of Jigawa state, and Ayodele Oke of Oyo state.
Tinubu made the request in a letter addressed to the Senate and read on Wednesday, November 26 by Senate President Godswill Akpabio.
In a statement by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, said: that the postings will be finalised following Senate screenings.
“Ambassador Amin Mohammed Dalhatu previously served as Nigeria’s ambassador to South Korea during President Buhari’s administration, having been first appointed in 2016.“
Ambassador Ayodele Oke, an alumnus of Emory University in Atlanta, is a former Director General of the National Intelligence Agency (NIA) and previously served as Nigeria’s ambassador to the Secretariat of the Commonwealth of Nations in London.
“Retired Colonel Lateef Kayode Are was Director General of the State Security Service (SSS) from 1999 to 2007, served as National Security Adviser in 2010, and was an officer in the Directorate of Military Intelligence.
He graduated with First Class Honours in Psychology from the University of Ibadan in 1980.”
News
Goodluck Jonathan, other African leaders trapped in Guinea-Bissau after military coup
In a joint statement, the observer mission said it was “deeply concerned” about the military intervention, calling it “regrettable” that the takeover came shortly after meeting the two top candidates, who had assured them they would respect the will of the voters.
The mission urged the AU and ECOWAS to take urgent steps to restore constitutional order and demanded the immediate release of all detained officials.
The delegation is scheduled to depart Guinea-Bissau on November 29, though it is unclear whether the airport shutdown will affect their exit
Former Nigerian President Goodluck Jonathan is among dozens of African leaders stranded in Guinea-Bissau after the military seized power and suspended the country’s electoral process on Wednesday.
Jonathan is part of a 36-member joint election observation mission of the African Union (AU), ECOWAS and the West African Elders Forum (WAEF) deployed to monitor Sunday’s presidential election.
The coup unfolded after both incumbent President Umaro Embaló and his main challenger, Fernando Dias, separately claimed victory even though the electoral commission had not released official results.
Soldiers subsequently took control of state institutions, closed all borders and shut down airports.
In a joint statement, the observer mission said it was “deeply concerned” about the military intervention, calling it “regrettable” that the takeover came shortly after meeting the two top candidates, who had assured them they would respect the will of the voters.The mission urged the AU and ECOWAS to take urgent steps to restore constitutional order and demanded the immediate release of all detained officials.
The delegation is scheduled to depart Guinea-Bissau on November 29, though it is unclear whether the airport shutdown will affect their exit.
(Business Day)
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