Nigerians Protest the 7.5% VAT the FG Imposed on Diesel.

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The payment of the 7.5% Value Added Tax on Automotive Gas Oil, also known as diesel, was officially announced by the Federal Government on Monday. Representatives of the Federal Inland Revenue Service and the Nigerian Customs Service reaffirmed that AGO was not exempt from paying VAT in accordance with the VAT Modification Order 2021.

Nigerians, however, criticized the news, pointing out that people were still attempting to acclimatize to the increase in the pump price of Premium Motor Spirit, more commonly known as gasoline, without being aware that preparations had been made to further increase prices for diesel.

Nigerians bemoaned how the introduction of the 7.5% Value-Added Tax affected the cost of diesel. This occurs just a month after President Bola Tinubu, in his inaugural speech on May 29, abolished the subsidy on gasoline, increasing the price of PMS from N188 to over N580 in various states of the federation.

But the new development has deeply affected Nigerians, who have demanded a thorough assessment of it, particularly in light of the recent elimination of fuel subsidies.

Punch.

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