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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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NAF Jilli Airstrike: Bomb Don’t Know Who’re Terrorists

Multiple sources said that the fighter jet that carried out the operation was tracking a group of suspected insurgents believed to have visited the market to collect levies from traders and obtain supplies. However, the strike reportedly missed its intended target

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No fewer than 56 people, mostly traders, are feared dead, while 14 others have been hospitalized following an airstrike on a weekly market along the Borno–Yobe border.

The incident occurred at Jilli Market, located between Gubio and Geidam Local Government Areas of Borno and Yobe states, on Saturday.

The airstrike was carried out during a military operation targeting suspected Boko Haram insurgents.

The weekly market usually attracts traders and buyers from surrounding communities, including Gubio, Chiweram, and Benisheikh in Borno State, as well as Gurokayeya and Geidam in Yobe State.

Multiple sources said that the fighter jet that carried out the operation was tracking a group of suspected insurgents believed to have visited the market to collect levies from traders and obtain supplies. However, the strike reportedly missed its intended target

.An eyewitness said at least 56 people have been confirmed dead, while 14 others are receiving treatment at the Specialist Hospital in Geidam, Yobe State.

“The incident happened around 2:46 p.m. while business activities were ongoing. Four fighter jets carried out the attack, though the fourth jet was not clearly visible. We only heard the sound of explosions.

“I counted 56 corpses myself and helped rescue two injured people, taking them to the hospital. I believe the number of casualties may be higher, as more bodies are still being recovered,” the source said.

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NUPENG Braces Up for Leaderships Change

Former National Chair of PTD-NUPENG and National Trustees of the union, Salimon Oladiti will be elected as president of NUPENG in Lagos.

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The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) will, on April 24, elect a new president.

Incumbent President, Williams Akporeha, announced his exit date at the weekend during the Quarterly National Executive Council meeting of Petroleum Tanker Drivers Branch, PTD-NUPENG in Warri, Delta State.

Former National Chair of PTD-NUPENG and National Trustees of the union, Salimon Oladiti will be elected as president of NUPENG in Lagos.

The election of Oladiti will mark the first time in NUPENG a member of the PTD branch will be president.

During the meeting, Zonal Chair of PTD-NUPENG in Port Harcourt, Joseph Okafor, moved the motion for unanimous ratification of Oladiti for president, seconded by Adekunle Akinlaja of Lagos zone.

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FG Unmasks 60 Persons and Corporates Behind Terrorism Financing, Order Banks To Freeze Their Accounts

The updated sanctions list is part of a crackdown on financial networks supporting extremist groups, particularly following investigations into Bureau De Change (BDC) operators and other entities.

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The Federal Government on Saturday released a list of 48 individuals and 12 corporate entities allegedly linked to terrorism financing in Nigeria, as part of ongoing efforts to curb the funding of extremist activities.

The Federal Government also directed financial institutions to freeze all accounts and assets associated with these individuals and firms.

The list, published on the website of the Nigeria Sanctions Committee (NIGSAC), disclosed the nationalities of those named, their specific roles, and the terrorist groups they were allegedly connected to.

The Nigeria Sanctions Committee (NIGSAC) operates under the authority of the Office of the National Security Adviser (ONSA), which coordinates its activities within the national security framework.

Its core mandates include the implementation of United Nations sanctions—particularly those targeting terrorism financing—ensuring compliance with international obligations, and facilitating coordination among agencies such as financial intelligence, defense, and foreign affairs.

Those named in the latest released include Abdulsamat Ohida, Mohammed Sani, Abdurrahman Abdurrahman, Fatima Ishaq, Tukur Mamu, Yusuf Ghazali, Muhammad Sani, Abubakar Muhammad, Sallamudeen Hassan, Adamu Ishak, Hassana Isah, Abdulkarim Musa, Umar Abdullahi, Abdurrahman Ado, Bashir Yusuf, Ibrahim Alhassan, Muhammad Isah, Salihu Adamu, Surajo

Mohammad, Fannami Bukar, Muhammed Musa, Sahabi Ismail, Mohammed Buba, Jama’atu Wal-Jihad, Ansarul Sudan (ANSARU), Islamic State West Africa Province (ISWAP), Indigenous People of Biafra (IPOB), Yan Group, Yan Group NLBDG, Adamu Hassan, Hassan Mohammed, Usman Abubakar, Kubara Salawu, Rabiu Suleiman, Simon Njoku, Godstime Iyare, Francis Mmadubuchi, John Onwumere, Chikwuka Eze, Edwin Chukwuedo, Chiwendu Owoh, Ginika Orji, Awo Uchechukwu, Mercy Ali, Ohagwu Juliana, Eze Okpoto, Nwaobi Chimezie, and Ogumu Kewe.

The entities listed include West and East Africa General Trading Co. Ltd, Settings Bureau De Change Ltd, G. Side General Enterprises, Desert Exchange Ventures Limited, Eagle Square General Trading Co. Ltd, Alfa Exchange BDC, Alin Yar Yaya General Enterprises, K. Are Nigeria Limited, Suhailah Bashir General Enterprises, Igwe Ka Ala Enterprises, Seficuvi Global Company, and Lakurawa Sect.

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