Uncategorized
Fuel Tax Not Taking Effect Yet, Says Taiwo Oyedele — Cites Harsh Economic Conditions
By: Fabian Apechihin
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified that the proposed 5% fuel surcharge will not be implemented immediately, citing current economic challenges faced by Nigerians.
Speaking at the Haulage and Logistics Magazine Conference and Exhibition in Lagos, Oyedele explained that while the levy is a sound policy designed to fund road maintenance, implementing it now would worsen the financial strain on citizens.
He noted that the surcharge — originally introduced during the administration of former President Olusegun Obasanjo — was intended to allocate part of fuel revenue to road repairs, with 40% directed to federal roads and 60% to state and local government roads.
“The idea is brilliant and is already in practice in over 150 countries,” Oyedele said. “However, introducing it at this time would be insensitive, given the current cost-of-living crisis.”
He revealed that although the Federal Roads Maintenance Agency (FERMA) had proposed activating the levy following the removal of fuel subsidy, the fiscal policy committee turned down the request.
Oyedele further explained that the tax provision exists only in the draft fiscal reform law and cannot be enforced unless the Minister of Finance issues an official directive — a safeguard designed to prevent hasty implementation.
“For me, the right time will be when the naira stabilises or crude oil prices drop so that the surcharge won’t push up pump prices,” he added.
Assuring transport operators and logistics firms, Oyedele said the ongoing tax reforms aim to reduce multiple taxation, lower operational costs, and promote efficiency in the sector.
“We are not introducing new taxes; we are eliminating redundant ones that frustrate businesses and increase the cost of goods and services,” he said.
Under the reform framework, small transport and logistics companies with annual turnover below ₦100 million will be exempt from company income tax, while eligible operators will benefit from VAT refunds and other incentives.
Oyedele concluded that the reforms seek to simplify Nigeria’s complex tax system and ensure transparent, equitable revenue sharing across federal, state, and local governments.
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SANKARA NIGERIA LIMITED PARTNERS LOVOL TO EMPOWER AFRICAN YOUTHS THROUGH MECHANIZATION TRAINING IN KADUNA
In a bold step toward tackling youth unemployment and advancing agricultural mechanization in Nigeria and across Africa, Sankara Nigeria Limited, in partnership with LOVOL, has successfully launched an intensive training programme aimed at equipping young people with modern mechanical and technical skills.
The initiative, which focuses on contemporary mechanized systems and agricultural equipment maintenance, is designed to build a new generation of skilled technicians capable of driving Africa’s agricultural transformation. The programme provides hands-on training in modern mechanical practices, particularly in the operation, servicing, and maintenance of advanced farming machinery.
Speaking on the development, Dr. Nafiu Danladi Sankara described the opportunity as both impactful and timely, noting that the programme represents a strategic investment in human capital development. According to him, the collaboration between Sankara Nigeria Limited and LOVOL underscores a shared commitment to empowering African youths with practical knowledge that fosters self-reliance and reduces dependence on white-collar employment.
He emphasized that the training is not limited to Nigeria alone but extends across Africa, reflecting a broader vision to create a continent-wide network of competent technicians who can support the growing demand for mechanized farming solutions.
“This initiative is about more than training; it is about creating opportunities, restoring dignity to labour, and building a future where young people can stand on their own through acquired skills,” he stated.
The technical workshop, which drew participants from different parts of the region, was held in Kaduna State, specifically in Zaria, at Unguwa Kaya Junction, New Jos Road, KM 2.
Participants in the programme expressed appreciation for the quality of training and the exposure to modern equipment, noting that such initiatives are critical in bridging the skills gap in the agricultural and mechanical sectors.
The programme also received warm support from the host community in Zaria, located in the historic Zazzau Emirate, where participants were welcomed with remarkable hospitality. Organizers and trainees alike commended the people of Zaria for their generosity and encouraging reception, which contributed to the overall success of the exercise.
As Nigeria continues to seek sustainable solutions to unemployment and food security challenges, initiatives like this stand as a testament to the role of private sector collaboration in national development. By equipping young people with relevant, market-driven skills, Sankara Nigeria Limited and LOVOL are not only transforming lives but also laying a solid foundation for economic growth and agricultural modernization across the continent.
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NNPCL Must Account for N210trn by April 29 – Senate
…Orders Ojulari-led management to produce Kyari, others before committee
From Taiye Hassan
The Senate, on Wednesday, through its Committee on Public Accounts, fixed April 29, 2026, as the deadline for the management of the Nigerian National Petroleum Company Limited (NNPCL) to appear before it and account for the alleged N210 trillion flagged in audit reports covering 2017 to 2023.
The committee directed the Group Chief Executive Officer (GCEO) of NNPCL, Engineer Bayo Ojulari, to appear alongside the immediate past GCEO, Mele Kyari; former Chief Financial Officer, Umar Ajia; Dr. Bala Wunti; and the company’s external auditors on the scheduled date without fail.
The resolution followed a motion moved by Senator Osita Izunaso (Imo West) and seconded by Senator Adams Oshiomhole (Edo North).
Chairman of the committee, Senator Aliyu Wadada (Nasarawa West), stressed that the N210 trillion in question, as contained in the audit reports, must be fully accounted for by the company’s management, particularly the immediate past leadership led by Kyari.
According to him, the responses so far provided by NNPCL to the 19 audit queries were unsatisfactory, noting that Nigerians deserve clear, detailed, and transparent explanations.
“This committee, and by extension the Senate, is not satisfied with the blanket explanation given by NNPCL on the N103 trillion it claimed represents liabilities. Liabilities comprise components such as retention fees, legal fees, and audit fees, and the specific amounts spent on each must be clearly stated and justified,” he said.
Wadada also demanded a detailed breakdown of the N107 trillion which the company claimed was expended on Joint Venture (JV) cash calls, as well as funds allegedly owed by some defunct banks whose identities were not disclosed.
“Consequently, it is hereby resolved that NNPCL is given an additional two weeks to appear before this committee unfailingly. The deadline for compliance is Wednesday, April 29, 2026,” he added.
Earlier, a member of the committee, Senator Abdul Ningi (Bauchi Central), called for the invocation of the National Assembly’s powers to compel the appearance of NNPCL management, citing repeated failures to honour invitations.
“We must treat this matter with the utmost seriousness. The essence of democracy rests significantly on the strength and authority of the legislature. Unfortunately, in recent times, there appears to be a growing reluctance by individuals to honour invitations from the National Assembly, leaving members feeling helpless in compelling appearances before committees,” he said.
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APC Group To Kwara Political Actors: Shun Violence, Hate Speech
Stephen Olufemi Oni, Ilorin
A frontline political group in the All Progressives Congress (APC) in Kwara State have charged political actors across the 16 local government areas of the State to shun violence, rancour and hate speech before, during and after the 2027 general elections.
The APC group, under the aegis of the Asa Progressive Movement (APM), has, therefore, sued for peaceful, issue-based campaigns, devoid of acrimony and name-calling, ahead of the elections.
The Movement made this call in Afon, headquarters of the Asa local government at the endorsement programme of President Bola Ahmed Tinubu for second term, as well as the governorship ambition of former Kwara State APC Chairman, Hon. Bashir Omolaja Bolarinwa.
In a communique signed by the APM Coordinator and the Secretary, Engineer Daud Oladipupo Babatunde and Comrade Yusuf Mutiu Akorede respectively, the Movement said: “We are committed to a peaceful, issue-based campaign and we, therefore, urge all political actors to shun violence, hate speech, and any conduct capable of heating up the polity.
“We call on all well-meaning sons and daughters of Kwara State, regardless of party affiliation, to join this movement for the restoration and advancement of our dear State.
“The 2027 election is about the future of our children and we must rise above petty sentiments.
“We pass a vote of confidence in Hon. Bashir Omolaja Bolarinwa and in the leadership of our great party, the APC, for presenting to the people a competent, credible, and compassionate candidate.
“All structures of the Movement, from the State to the polling unit levels, are hereby directed to commence immediate and intensive mobilisation for the reelection of President Bola Ahmed Tinubu and the candidature of Hon. Bashir Omolaja Bolarinwa. Every member is now an ambassador of these two projects.”
The communique reads further: “Our decision is predicated on Hon. Bolarinwa’s proven track record of service as former Councillor, former Council Chairman, former member of the Federal House of Representatives, former State Chairman of the party, who led the party to 100 percent victory in the 2019 elections, and former Board Chairman of the NBC; his desire to tackle the lingering problems of insecurity, youth unemployment, and agricultural revival; and his integrity, accessibility, and capacity to unite the diverse peoples of the State.
“The APM unanimously endorses Tinubu for second term and Bolarinwa as our preferred candidate for the office of Governor in the 2027 general elections under the platform of the All Progressives Congress (APC).”
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