WorldStage– The Federal Government has assured Nigerians that a new 5 per cent tax on petroleum products is not slated for immediate implementation.
Finance Minister and Coordinating Minister of the Economy, Wale Edun who made the clarification on Tuesday in Abuja while addressing journalists on the recently signed Nigerian Tax Administration Act 2025 explained that the reference to the petroleum products surcharge in the new law was not the creation of a fresh tax but a restatement of an existing provision dating back to 2007. According to him, its inclusion in the updated Act was purely for harmonisation and transparency.
“The Nigerian Tax Administration Act did not introduce a new surcharge. It simply restated and consolidated existing provisions into a single, clear framework. The 5 per cent fuel surcharge has existed since 2007. Its presence in the 2025 Act does not mean automatic enforcement or fresh taxation,” Edun said.
He assured that the government is mindful of current economic challenges and will not impose additional burdens on citizens. Instead, he noted, the administration’s priority is strengthening tax governance, blocking revenue leakages, and improving efficiency rather than raising new levies.
Highlighting the broader reforms, the minister described the new tax framework as Nigeria’s most comprehensive reform in decades. He stressed that it is designed to modernise tax administration, boost revenue mobilisation, and create a more business-friendly environment.
“Our reforms are deliberate, evidence-based, and consultative. The government’s vision remains to build a strong, inclusive, and private-sector-driven economy that generates jobs and attracts investment,” he said.
Edun also pointed to growing investor confidence, improved macroeconomic stability, and positive assessments from international partners as signs that Nigeria is on the right track.
