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Nigerians groan over effects of 7.5% VAT on petrol prices

Published

3 years ago

June 19, 2023

343 Views

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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JUST IN: IGP Disu Assigns Portfolios to New DIGs

DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.

Published

4 hours ago

March 10, 2026

OCHEFA

19 Views

The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.

Sources said that the DIGs were assigned departments based on their areas of competence.

DIG Zachariah Fera Achinyan has been deployed to Legal Services,

DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.

Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);

DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.

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Airport Access Gates: FG Approves Cash and FAAN Go Cashless Cards for Payment

The statement also noted that motorists who already possess FAAN Go Cashless Cards can continue using them until further notice.

In addition, other electronic payment channels, including Point-of-Sale (POS) terminals and approved digital platforms, will remain available

Published

6 hours ago

March 10, 2026

OCHEFA

26 Views

The Federal Government has directed the Federal Airports Authority of Nigeria (FAAN) to accept both cash and electronic payments at airport access gates nationwide, as part of efforts to ease traffic congestion.

The directive followed a meeting between the Minister of Aviation and Aerospace Development and officials of the FAAN, alongside senior officials of the ministry, on Tuesday.

The move comes after President Bola Ahmed Tinubu ordered the suspension of the full cashless payment system at airport access gates following complaints that it had caused traffic gridlocks.

In a statement issued in Abuja by the minister’s Special Adviser on Media and Communications, Tunde Moshood, the government has resolved to gradually transition to a fully automated payment system at airport access points.

As part of the interim measures, the ministry announced that a hybrid payment system allowing both cash and card payments will take effect at all airport access gates from March 13, 2026.

The statement also noted that motorists who already possess FAAN Go Cashless Cards can continue using them until further notice.In addition, other electronic payment channels, including Point-of-Sale (POS) terminals and approved digital platforms, will remain available

News

LASEMA Cautions Social Media Platforms Against Circulating False News

LASEMA Permanent Secretary, Dr. Olufemi Damilola Oke-Osanyintolu, made the call today following his visit to a collapsed three-storey school building at Yemco Schools, Daycare Nursery, Primary and Comprehensive College, located at 11, Adu Street, Behind County Hospital, Aguda, Ogba, Lagos State.

Published

6 hours ago

March 10, 2026

OCHEFA

26 Views

The Lagos State Emergency Management Agency (LASEMA) has cautioned news platforms, especially social media against the circulation of misleading information.

He said : “In situations like this, inaccurate reports and exaggerated claims can create unnecessary panic within the public.

“We urge members of the public and media platforms to rely only on verified information released by official government agencies such as LASEMA and other authorized emergency management bodies.

Spreading unverified information during emergencies can hinder response operations and misinform the public.

” First and foremost, I want to reassure the public that this incident did not result in any loss of life.”

He emphasised:” After careful assessment and rescue operations, I can confirm that all individuals within the vicinity of the building were accounted for and no casualties were recorded. Because no lives were lost, we categorize this situation not as a disaster but as an emergency incident, which was quickly managed through coordinated response efforts.”

According to him, emergency responders from the Lagos State Emergency Management Agency and other first responders were immediately deployed to the scene to conduct a thorough search and safety assessment.

Our emergency teams promptly secured the environment, carried out safety checks, and ensured that there were no trapped victims within the structure.

The safety of residents, students, and staff remains our top priority.

The Lagos State Government remains committed to protecting lives, ensuring rapid emergency response, and maintaining public safety across the state.

We will continue to work with relevant authorities to assess the structural integrity of buildings across Lagos and enforce safety regulations where necessary.

Once again, I want to reassure residents that the situation has been fully contained and there is no cause for alarm.”