Connect with us

Uncategorized

Fuel Tax Not Taking Effect Yet, Says Taiwo Oyedele — Cites Harsh Economic Conditions

Published

on

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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Uncategorized

National Trail Mourns Pioneer Editor, Abdulazeez Suleiman

Published

on

Inna Lillahi wa Inna Ilaihir-Raji’un.

The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.

Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.

Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.

Continue Reading

Uncategorized

JUST IN: After Primary Election Victory, Shehu Sani Visits Parents’ Graves to Offer Prayers and Express Gratitude to God

Published

on

Following his victory in the party primary election, Senator Shehu Sani visited the graves of his parents to pray and give thanks to Almighty God.

The former senator described the visit as very important to him, noting that his parents played a significant role in his upbringing and in shaping his political life.

Shehu Sani prayed for Allah to forgive his parents and all deceased Muslims, while also reaffirming his commitment to continue serving the people with honesty and integrity after securing victory in the primaries.

The gesture has attracted attention from his supporters and social media users, many of whom praised his act of remembering his parents after a political success.

Continue Reading

Uncategorized

National Trail Mourns Pioneer Editor, Abdulazeez Suleiman

Published

on

Inna Lillahi wa Inna Ilaihir-Raji’un.

The Chairman and Editor-in-Chief of , Hon. Inuwa Bwala, on behalf of the management and staff, has expressed deep sorrow over the death of veteran journalist and pioneer editor of the newspaper, Abdulazeez Suleiman.
Bwala also extended condolences to Suleiman’s family, associates and the Nigerian media industry, describing his passing as a monumental loss at a time his experience, courage and service to the nation were still greatly needed.
Suleiman reportedly died shortly before a scheduled surgery.
A pioneer editor of National Trail Newspaper, Abdulazeez Suleiman was regarded as a thoroughbred journalist with a remarkable talent for breaking exclusive stories and shaping public discourse through responsible journalism.
Throughout his distinguished career, he worked with notable media organisations, including National Trail Newspaper, Daily Trust, Summit and The Road. He earned widespread admiration for fearless reporting, ethical conduct and unwavering commitment to professionalism.
His writings and public interventions consistently reflected deep concern for justice, peace, accountability and national unity.

Beyond journalism, Suleiman was widely respected as a bridge-builder who strongly believed in dialogue, mutual understanding and peaceful coexistence among Nigeria’s diverse peoples. He remained steadfast in his conviction that truth and justice are essential pillars for national progress.

Though his voice has now gone silent, the values and ideals he stood for will continue to inspire generations. His legacy as a principled journalist, advocate and patriot will endure in the hearts of many whose lives he touched through his work and humanity.
The management and staff of National Trail Newspaper prayed Almighty Allah to forgive his shortcomings, grant him Aljannatul Firdaus and comfort his family, friends, colleagues and members of the in this moment of grief.
Rest in peace, Abdulazeez Suleiman. Your service and legacy will not be forgotten.

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.