Tax Chairman Clarifies N500 Fuel Surcharge

Post created on 4:54 pm

The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has dismissed trending reports that from January 2026, Nigerians will start paying a N500 fuel surcharge.
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‎Oyedele’s clarification comes amid growing tension and uncertainty about how much harder things are going to be in the coming months under President Tinubu’s administration.
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‎Explaining the whole surcharge issue in a video, Oyedele described the claims as false and misleading, stating that the tax law for a fuel surcharge under the Federal Emergency Agency (FEMA) Act has not yet taken effect.
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‎His words in the video released by the State House explain: “What we have is that there’s a law that was enacted some years back with a surcharge on fuel under the FEMA Act. This is a provision that is now in the new tax law, and it does not take effect as of January 2026.
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‎“I know some people have been giving wrong information about this. What is in the new tax law is that this surcharge will take effect on a date in the future, based on an order to be released by the Minister of Finance. And we do know that the Minister of Finance is responsible enough to determine when it’s appropriate to do so.”