Taiwo Oyedele, chairman of the Presidential Tax Reform Committee, has debunked rumors that a proposed N500 tax on every N10,000 fuel purchase will begin in January 2026.
In a video released on Friday, September 5, 2025, Oyedele clarified that the surcharge, part of a provision in the new tax law and originally enacted under the FERMA Act, will take effect on a future date to be announced by the Minister of Finance.
He emphasized the Minister’s responsibility to determine an appropriate start date.
Addressing public concerns and calls to suspend the policy, Oyedele explained that the revenue from the surcharge will be dedicated to improving transport infrastructure.
This, he said, aims to reduce logistics costs and curb inflation, ultimately benefiting Nigerians.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com