Daily lens Report
The Federal Government has announced that it will not immediately implement the 5% Petroleum Products Tax contained in the new legislation.
Finance Minister Wale Edun disclosed this in Abuja following nationwide backlash and threats of industrial action from organised labour.
The Federal Government has clarified that it has no immediate plans to enforce the 5% Petroleum Products Tax contained in the new tax legislation.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, disclosed this during a press briefing in Abuja on Tuesday.
His statement comes amid widespread public outcry and threats of industrial action from organised labour, which has demanded the scrapping of the tax.
Meanwhile GISTLOVER reported that The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified that the controversial 5% fuel surcharge was not introduced by President Bola Tinubu’s administration but has been in existence since 2007.
Speaking on Channels Television’s The Morning Brief on Tuesday, September 9, Oyedele explained that the law had remained dormant due to fuel subsidy.
“One very important message for people to know is that this surcharge was not introduced by this government. It was introduced in 2007. And then it was not implemented because the government was subsidising fuel,” he said.
