Nigeria: Explainer – the 5% Surcharge On Fuel: What Is True and What Is Not

Taiwo Oyedele, the chair of the Presidential Fiscal Policy & Tax Reforms Committee clarifies Nigeria’s five percent surcharge on fuel & Presidential Fiscal Policy & Tax Reforms Committee

This note seeks to clarify matters arising regarding the 5% surcharge on fuel 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…