Tinubu’s 5% tax on fuel won’t start in January 2026 — Presidency

The presidency has stated that the five percent tax on fuel will not be implemented in January 2026 but will only take effect when Finance Minister Wale Edun decides on a date.

Following the reactions that trailed President Bola Tinubu’s new tax law imposing a five per cent levy on fossil fuel sales, the government, through Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, clarified that the timeline being circulated is inaccurate.

In a video shared by the State House on Friday, Oyedele said, “There was a law that was enacted some years back with a surcharge on fuel under the FEMA act. This is the provision that is now in the new tax law, and it does not take effect as of January 2026. I know some people have been giving wrong information about this.”

He explained that the responsibility for setting the commencement date lies with the finance minister.

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“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 is appropriate to do so.”

He, however, did not confirm whether Mr Edun would announce the implementation before or after January 2026.

Providing further insight, the presidential aide said the revenue from the levy is intended to serve the public interest.

“The intention is to earmark and dedicate the revenue from this tax into providing transport infrastructure that can reduce the cost of transporting items, logistics, and overall bring down inflation for Nigerians.”

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