- President Bola Ahmed Tinubu of Nigeria has suspended the collection of Value Added Tax (VAT) on diesel for 6 months.
- This decision is part of the government’s commitment to providing compressed natural gas for mass public transportation.
- Diesel prices in Nigeria have been increasing, with an 8.5% increase in August 2023 alone.
- The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the move but warns that it is not a permanent solution.
- IPMAN suggests that the government should focus on putting refineries to work and producing diesel locally.
- The suspension of VAT on diesel is generating diverse reactions from the public and stakeholders.
Source: africataxreview.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Nigeria"
- Nigeria’s 2025 VAT Reforms: Impact on Foreign Tech Firms and Local Tech Ecosystems
- Nigeria Extends E-Invoicing Compliance Deadline for Large Taxpayers to November 1, 2025
- Nigeria Extends E-Invoicing Compliance Deadline for Large Taxpayers to November 2025
- Nigeria Abolishes 5% Telecom Excise Duty to Boost Affordability and Service Standards
- Nigeria Abolishes 5% Excise Tax on Telecommunication Services
