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WESLEY NNEBUE
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Fuel Prices Set to Rise Again as FG Imposes 5% Tax on Petrol and Diesel
Nigerians are about to face another round of hardship. The Federal Government has approved a new 5% tax on all refined fossil fuel sales, including petrol and diesel.
This means every time you buy fuel for your car, generator, or motorcycle, you will pay an additional 5% on top of the already high cost. For a country where most citizens are struggling to survive, this tax is nothing short of a heavy blow.
Why This Matters
1. Transport Costs Will Climb
Bus fares, keke rides, okada trips, and even ride-hailing services will get more expensive. Millions who already walk long distances because of high transport fares will find it even harder to move around.
2. Prices of Goods Will Rise
Everything in Nigeria moves by road, this includes food, clothes, water, medicine. When fuel becomes more expensive, the cost of moving goods goes up, and Nigerians will pay more for basic items in the market.
3. Small Businesses Will Struggle
Most small businesses in Nigeria depend on generators. From salons to shops to welders, everyone needs fuel to keep running. A 5% tax on petrol and diesel means higher costs for them, which either kills the business or forces them to increase prices for customers.
4. More Burden, No Relief
The government proudly says it has met its revenue targets. If that is true, why add more suffering to the people? Instead of bringing relief, leaders are piling more weight on already weary shoulders.
The Broken Promise of Alternatives
The government had promised that Compressed Natural Gas (CNG) would be the cheaper option. But that promise has failed. CNG has jumped from about ₦230 to ₦450, while subsidies and rollout plans have disappeared quietly. Nigerians are left with no affordable choice, only rising costs.
A Tax That Punishes the People
This new 5% tax is not reform. It is not a solution. It is punishment. It will increase the price of everything and deepen poverty across the country.
So the question remains, when will Nigerians truly breathe? When will leadership focus on lifting people up instead of dragging them down?
How long can a nation survive when its own people cannot even afford to live?
Until policies begin to prioritize the well-being of citizens, this new tax will not just be an economic decision. It will be remembered as yet another betrayal.
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