No Plan To Drop 5% Fuel Tax Anytime Soon – Na Wale Edun Talk Am

Finance Minister Wale Edun don talk say federal government no get any immediate plan to start the proposed 5% tax on petroleum products. As e dey yan with journalists for Abuja on Tuesday, di minister explain say even though dem don include di policy for the new tax law wey go start January 1, 2026, e no go happen just like that until all di proper processes wey dey involved don complete. Dis explanation come as people dey para over di wahala wey fit follow if dem go ahead with di 5% fuel tax matter.

As e dey talk about di tax, Edun make am clear say na old surcharge wey dem introduce since 2007 under di FERMA Act, no be new Tinubu government tax. Di reason wey dem include am for the 2025 Act na to bring all di old laws together so say everything go clear and easy to follow. He talk say, “Di tax reform bills and tax act no go begin work until January 1, 2026, and even di 5% fuel surcharge wey dem mention no go just start like dat. Process still dey. Before any surcharge fit start, di Minister of Finance gatz sign commencement order and e must enter government gazette. So nobody go just wake up January 1 and see new tax.” He come add, “As of today, no order don come out, dem never even dey prepare am, and no immediate plan dey to implement any surcharge.” Meanwhile, on Monday, Trade Union Congress (TUC) reject di 5% fuel tax, call am “reckless proposal” and “economic wickedness” wey go kill businesses, increase poverty, and add to wetin Nigerians dey already suffer. Di union yarn say government no fit dey use Nigerians test economic policy like lab rats.