By Yakubu Lawal
Finance Minister Taiwo Oyedele has dismissed reports of a planned five per cent petrol tax, saying the Federal Government has no such proposal.
Oyedele issued the clarification in a brief statement on his X account this week while , responding to reports that President Bola Tinubu’s administration intended to impose a five per cent tax on retail petroleum products.
The reports had linked the proposed petrol tax to the finance minister, prompting him to address the claims publicly.
Clarifying the government’s position, Oyedele said a new levy on fuel was not under consideration. He referred to his earlier interview with ARISE News, where he had already addressed the issue.
“In my interview with ARISE News, I was clear: a fuel tax is not on the table,” he said on X.
His statement comes at a time when Nigerians are grappling with the high cost of living and rising transport expenses linked to petrol prices. According to DAILY POST, motorists and other consumers pay between N1,370 and N1,429 per litre for petrol.
The reported proposal to introduce a five per cent levy had raised concerns because an additional charge on petroleum products could increase the amount consumers pay at the pump.
Fuel prices affect many areas of daily life in Nigeria, including public transport, food distribution, manufacturing and the operating costs of small businesses. Any additional charge could therefore place further pressure on households and businesses already dealing with high expenses.
However, Oyedele’s clarification indicates that the Federal Government has no plan to introduce the reported fuel tax at this time. His statement also addresses claims that he was responsible for promoting the proposed levy.
The minister’s comments provide a response to the speculation surrounding the alleged fuel tax proposal, although they do not change the petrol prices currently faced by consumers.
For many Nigerians, the cost of petrol remains an important concern because it influences transport fares and the prices of goods and services. The government’s position on additional fuel charges is therefore likely to remain a subject of public interest as economic pressures continue.
