The Federal Government on Tuesday ruled out an immediate enforcement of the 5% Petroleum Products Tax.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during a press briefing in Abuja.
The announcement followed outrage over the policy.
The proposed tax has drawn criticism from Nigerians, with organised labour threatening nationwide strikes unless the government shelves the plan.
He said: “It is important to make this distinction. The inclusion of the surcharge in the 2025 Nigeria Tax Administration Act does not mean an automatic introduction of new tax. It doesn’t mean fresh taxation automatically.
“There is a whole formal process involved, and as of today, no order has been issued, none is being prepared, and there is no plan. There is no immediate plan to implement any surcharge.”
Edun assured that while the law provides for the tax, its implementation will not take effect for now, as the government continues consultations with key stakeholders.
(Ripples Nigeria)
