The Minister of Finance and Coordinating Minister of the Economy, Wale Edun and the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, yesterday declared that there was no immediate plan to implement the contentious 5 per cent fuel tax now or on January 1, 2026.
Given the already high cost of living and hardship in the land, the Trade Union Congress of Nigeria (TUC) had on Monday issued a 14 day ultimatum to the federal government to rescind any plan to introduce any tax surcharge or risk a total shut down of the economy.
Edun, who addressed a press conference in Abuja, admitted that while the Tax Administration Act will become operational on January 1, 2026, the 5 per cent fuel surcharge, which is captured in the Act, will not automatically come into effect.
He explained the Tax Administration Act is among four legislative instruments enacted to boost transparency, simplify compliance for individuals and businesses, and modernise revenue collection.
Edun said: “But let me re-emphasise and underscore the following: The tax reform bills and the tax act will not become operational until January 1, 2026. And the 5 per cent fuel surcharge, which is mentioned therein, will not automatically come into effect.”
