September 09, (THEWILL) — The Federal Government has clarified that the proposed 5% tax on petroleum products will not take effect in January 2026, contrary to reports making the rounds.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this to journalists in Abuja on Tuesday.
This comes after Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, also dismissed claims that implementation of the levy would commence in January 2026.
The Nigeria Trade Union Congress (TUC) had strongly opposed the proposed tax, describing it as an “act of economic recklessness” that would further worsen the hardship of Nigerians already burdened by high fuel prices, inflation, and the falling naira.
Edun, however, stressed that no immediate enforcement was planned, adding that adequate consultation and sensitisation with stakeholders must first take place.
“As of today, there is no immediate plan to implement such a charge,” he said.
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