Edun: No plan To Implement 5% Fuel Tax Soon

Finance Minister Wale Edun has clarified that there are no immediate plans to implement the proposed 5 per cent tax on petroleum products..  .Read ..Full.. Article.. .

Speaking to reporters in Abuja on Tuesday, the Minister explained that although the policy is included in the new tax administration set to take effect on January 1, 2026, its implementation will not proceed without following all formal processes involved.

The minister’s explanations follow growing concerns regarding the implementation of the 5 per cent fuel tax.

Addressing the tax, Edun clarified that the surcharge is a long-standing provision, originally introduced in 2007 under the Federal Road Maintenance Agency (FERMA) Act, and is not a new tax introduced by President Bola Tinubu’s administration.

The minister further explained that the inclusion of the surcharge in the 2025 Act is aimed at consolidating and harmonizing existing laws for greater clarity and easier compliance.

He said, “The tax reform bills and the tax act would not become operational until January 1, 2026, and the 5 per cent fuel surcharge which is mentioned therein will not automatically come into effect. There is even a process, and..  Read . .More —