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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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Insecurity: PDP says Nigeria’s Safer in 2015 Than Today

In the statement signed by Comrade Ini Ememobong, National Publicity Secretary, the party sympathise with the families who have been affected by bombing and calls on the federal government to move beyond rhetoric in security matters.

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Opposition party -The Peoples Democratic Party (PDP) has beaten it’s chest saying, “There is no one, including the President, who will not agree that our country was safer in 2015 than it is today.”

In a statement on Tuesday, the opposition party referenced the recent multiple bombings in Maiduguri, resulting in at least 23 deaths and injuring more than 100 people, alleging that “it was another incontrovertible piece of evidence of the inability of the APC-led federal government to curb the growing insecurity in the country.”

This bombing is an unfortunate addition to the numerous acts of grave insecurity that have occurred under the watch of President Bola Tinubu, who was the loudest campaign voice for the APC, promising to end insecurity immediately if his party is elected. Sadly, 11 years later, insecurity has not only increased significantly in the Northeastern part of Nigeria; it has spread almost uncontrollably to many other parts of the country that were hitherto very safe and peaceful.

Despite this glaring failure, the APC-led Presidency has devoted more time, energy, and resources to the task of political genocide against the opposition, instead of deploying the same to combat the growing insecurity that has become the lived reality and new normal of Nigerians.

In the statement signed by Comrade Ini Ememobong, National Publicity Secretary, the party sympathise with the families who have been affected by bombing and calls on the federal government to move beyond rhetoric in security matters and engage strategic stakeholders, especially community leaders, as part of a whole-of-society approach to combating insecurity.

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President Tinubu Embarks on Historic State Visit to United Kingdom

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President Bola Ahmed Tinubu, accompanied by First Lady Senator Oluremi Tinubu, will depart Abuja tomorrow, Tuesday, March 17, for a landmark state visit to the United Kingdom at the invitation of Their Majesties King Charles III and Queen Camilla.

The visit, the first by a Nigerian leader in 37 years and the first hosted by a British monarch at Windsor Castle, marks a significant milestone in Nigeria-UK relations. President Tinubu will be hosted at Windsor Castle from Wednesday, March 18, to Thursday, March 19.

During the stay, Their Majesties will invite the presidential couple to view a special Royal Collection exhibition featuring items related to Nigeria. Private discussions between King Charles and President Tinubu will follow, alongside meetings with organisations involved in interfaith dialogue.

The day will culminate in a State Banquet hosted by the Royal Family in honour of the Nigerian guests.President Tinubu will also hold bilateral talks with Prime Minister Keir Starmer at 10 Downing Street, paving the way for expanded high-level engagement.

The discussions are expected to result in the signing of multiple Memoranda of Understanding and agreements covering trade, investment, defence, and cultural cooperation.

A key highlight includes President Tinubu witnessing the signing of a major £746 million financing agreement between UK Export Finance (UKEF), the Nigerian Ports Authority (NPA), and the Federal Ministry of Finance.

The deal will support the refurbishment of Nigeria’s critical maritime infrastructure at the Lagos Port Complex (Apapa Quays) and Tin Can Island Port Complex.

The President will serve as guest of honour at the Nigerian Modernism exhibition, celebrating modern arts and culture, and attend a reception with Nigerian and British business leaders as well as the diaspora community.

The presidential entourage includes Senate President Godswill Akpabio; Attorney General and Minister of Justice Prince Lateef Fagbemi SAN; Minister of Solid Minerals Dele Alake; Minister of Information and National Orientation Mohammed Idris; Minister of State for Foreign Affairs Ambassador Bianca Ojukwu; Minister of Finance and Coordinating Minister of the Economy Wale Edun; Minister of Industry, Trade and Investment Dr. Jumoke Oduwole; Minister of Culture and Creative Economy Hannatu Musawa; Minister of Communications and Digital Economy Bosun Tijani; Minister of Defence General Christopher Musa (rtd); National Security Adviser Malam Nuhu Ribadu; and Director-General of the National Intelligence Agency Ambassador Mohammed Mohammed.

President Tinubu will return to Nigeria at the conclusion of the visit, which aims to deepen bilateral ties in immigration, trade, investment, security, and cultural exchange while reinforcing the enduring historical bond between the two nations.

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NRC Confirms Minor Train Incident Near Asham, Reports No Fatalities (Images)

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The Nigerian Railway Corporation (NRC) has confirmed that a minor but avoidable train incident occurred this morning near Asham, involving a rear locomotive and an adjacent passenger coach on one of its services.

According to the NRC’s official statement, the incident took place at approximately 10:30 a.m. and was caused by a coupling issue, resulting in contact between the rear locomotive and the following coach.

Several passengers sustained injuries in the event. The corporation stated that those affected were immediately provided with medical attention and transported to a nearby healthcare facility for further treatment. Importantly, no fatalities were recorded.

Emergency response teams were activated without delay, and technical crews have been deployed to the site. The Safety Investigation Bureau (SIB) has also arrived to carry out a comprehensive investigation in accordance with standard safety protocols.

The affected train reached Idu station around 10:39 a.m., approximately 38 minutes behind schedule, after time was taken to detach and remove the involved rear locomotive and coach SP 0006.

The NRC emphasized that passenger safety remains its highest priority.

The corporation assured the public that all required steps are being taken to resolve the situation and to maintain the safe and reliable operation of its train services moving forward.

The NRC said it will provide additional updates as more details emerge from the ongoing investigation.

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