This note seeks to clarify matters arising regarding the 5% fuel surcharge in the new tax laws. The charge is not a new tax introduced by the current administration. The provision already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007. Its restatement in the new Tax Act is for harmonisation and transparency rather than immediate implementation.

From Midnight Kegs to Market Stability: A Personal Testament to Subsidy Reforms, by Dr. Bunmi Awoyemi   There was a time in Nigeria when the simple act of buying petrol was an ordeal, a trial of patience and a test of human dignity. I do not...

Fuel consumption nationwide has fallen by 28 per cent over the past two years, as pump attendants across filling stations are left with scanty vehicular calls.

Dangote Petroleum Refinery and Petrochemical Limited has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS) by N30.

Dangote Increases Petrol Price, Resumes Sales After One-Week Suspension   The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly known as petrol, after a one-week suspension, with a revised ex-depot price of N850 per litre, up from the previous rate of N820. This...

Dangote Fuel Discount Scheme Halted Over Fraud Claims   The Dangote Petroleum Refinery and Petrochemicals has uncovered a fresh racket involving some of its affiliate marketers and strategic partners who have been diverting subsidised refined petroleum products for profit, prompting the suspension of the refinery’s discounted...