Nigerians Express dissatisafaction on the effects of 7.5% VAT on petrol prices

Barely a month after President Tinubu removed the subsidy on petrol during his inaugural speech on May 29, Nigerians have begun to express dissatisfaction with the 7.5% Value Added Tax on the price of petrol. The PMS price which was N188 rose to about N580 in the country and this caused a significant increment in the prices of other goods and services.

Before now, PMS was not VAT compliant because it was fully subsidized by the government even though other commodities have been compliant. However, the recent development of subsidy removal has brought about the 7.5% VAT on the price of petrol.

The implementation of VAT and the removal of subsidies has caused worries among Nigerian and they believe the government is doing this without putting into consideration its citizens.

This development has Nigerians calling on the government to reduce the hardship currently faced by reviewing the subsidy removal and the implementation of the price of petrol.