TheStreetNewspaper — Abuja:
Petrol wey Nigerians dey buy for pump fit cost pass as government don sign new tax law wey go begin bite from January 2026.
The Nigeria Tax Administration Act, 2025, wey President Bola Ahmed Tinubu don sign, carry five per cent surcharge on all refined fossil fuel products. This one mean say if petrol remain ₦900 per litre, Nigerians go begin drop extra ₦45 per litre once the law start.
No be petrol alone e go touch. The surcharge go land on diesel, aviation fuel and other refined petroleum products. But household kerosene, cooking gas, CNG and renewable energy like solar and wind dey exempt.
According to wetin the Act talk:
“A surcharge of five per cent dey imposed on all chargeable fossil fuel products wey dem provide or produce inside Nigeria, and the collection go happen immediately the transaction go down.”
Who Go Collect The Money?
The work of collection go land for Federal Inland Revenue Service (FIRS), wey go change name to Nigeria Revenue Service (NRS) by 2026. Dem go collect the levy every month and also roll out guidelines on how e go run.
The law go truly start when the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gazette the effective date.
Wetin E Mean For Nigerians
Analysts dey shout say government dey look for more ways to raise revenue because of heavy debts and fiscal wahala. But dem warn say the extra cost for fuel go scatter things — transport go high, food go cost, and inflation go rise.
Some people see am as push towards clean energy, since the surcharge go make fossil fuel use costlier. But critics dey hammer say e go press Nigerians wey already dey suffer under high cost of living.
This surcharge na part of four new tax reforms, including the Nigeria Revenue Service Act and the Joint Revenue Board Law, wey government say go help tighten revenue collection and improve transparency.
