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
CBN Debunks Viral Fake News of ₦5,000 Banknote Featuring President Tinubu’s Image
The Central Bank of Nigeria (CBN) has firmly dismissed as fake a circulating image purporting to show a new ₦5,000 banknote bearing the portrait of President Bola Ahmed Tinubu.
In a statement posted on its official X (formerly Twitter) handle on Thursday, April 9, 2026, the apex bank declared: “This content is fake. Let the public be guided.” The clarification came after the image went viral on social media, sparking debates and reactions among users who questioned its authenticity.
The viral mock-up, which some claimed was a “first sample” of a redesigned higher denomination note, has been identified by fact-checkers and media outlets as AI-generated.
Tests using AI detection tools reportedly showed over 90% AI-generated content, and earlier versions of similar images carried watermarks linked to Grok, an AI tool on the X platform.
This is not the first time such claims have surfaced. In 2025, the CBN similarly debunked reports of impending introductions of ₦5,000 and ₦10,000 notes, describing those as false and clarifying that no such policy or designs were in the works.
The CBN urged Nigerians to disregard the misleading image and rely only on official communications from the bank. It has not announced any plans to introduce new currency denominations or redesign existing notes with the president’s image.
The development comes amid ongoing efforts by authorities to combat misinformation that could potentially cause public confusion or economic anxiety regarding the naira.
Members of the public are advised to verify currency-related information directly through the CBN’s official website (cbn.gov.ng) or verified channels.
News
Police Debunk Viral “Terror Attack” Video in Abuja, Launch Investigation
The Federal Capital Territory (FCT) Police Command has dismissed as false and misleading a viral video claiming terrorists were advancing on Abuja with heavy gunfire.
In a statement on Thursday, the Command said there was no terrorist attack or security breach anywhere in the Federal Capital Territory.
Commissioner of Police, Ahmed Sanusi, described the video as a deliberate attempt to incite panic and spread misinformation.
According to the Police Public Relations Officer, SP Josephine Adeh, preliminary investigations revealed that the gunshots in the footage were manipulated and edited from an unrelated source, then superimposed on visuals of buildings under construction at an unidentified location.
The Commissioner has ordered a full forensic analysis to trace the origin of the video and identify those responsible for prosecution.
The FCT Police warned content creators and social media users against spreading false information that could cause fear and public disorder.
Residents were urged to disregard the video and refrain from sharing unverified content.
The Command reassured residents of its commitment to maintaining safety and security in the FCT.
News
US Declares 23 Nigerian States High-Risk for Citizens
Southern and Southeastern states were not spared. The Department urged caution in Abia, Anambra, Bayelsa, Delta, Enugu, Imo, and Rivers (excluding Port Harcourt), citing crime, kidnapping, and violent protests.
Photo: President Donald Trump; President Bola Tinubu
The United States Department of State has classified 23 Nigerian states “High Insecurity Risks” for its citizens to go , work and live.
In an updated travel advisory issued on Wednesday, the Embassy in Nigeria urged Americans to reconsider travel to Nigeria, with certain states classified under “Level 4: Do Not Travel” due to heightened security risks.
Plateau, Jigawa, Kwara, Niger, and Taraba were added to the list, bringing the total to 23 states where travel is strongly discouraged.
In Northern Nigeria, the advisory highlighted Borno, Jigawa, Kogi, Kwara, Niger, Plateau, Taraba, Yobe, and northern Adamawa as particularly high-risk, citing terrorism, kidnapping, and violent crime.Bauchi, Gombe, Kaduna, Kano, Katsina, Sokoto, and Zamfara were also flagged due to civil unrest, widespread crime, and kidnappings.
“The security situation in these states is unstable and uncertain due to civil unrest. Widespread violence between communities and armed crime, including kidnapping and roadside banditry.
“Security operations to counter these threats may occur without warning,” the advisory warned.
Southern and Southeastern states were not spared. The Department urged caution in Abia, Anambra, Bayelsa, Delta, Enugu, Imo, and Rivers (excluding Port Harcourt), citing crime, kidnapping, and violent protests.
“Crime is widespread in Southern Nigeria. There is a high risk of kidnapping, violent protests, and armed gangs,” the advisory stated.
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