News
No Plans To Implement 5% Fuel Tax Anytime Soon – Wale Edun
Finance Minister Wale Edun has clarified that there are no immediate plans to implement the proposed 5 per cent tax on petroleum products.
Speaking to reporters in Abuja on Tuesday, the Minister explained that although the policy is included in the new tax administration set to take effect on January 1, 2026, its implementation will not proceed without following all formal processes involved.
The minister’s explanations follow growing concerns regarding the implementation of the 5 per cent fuel tax.
Addressing the tax, Edun clarified that the surcharge is a long-standing provision, originally introduced in 2007 under the Federal Road Maintenance Agency (FERMA) Act, and is not a new tax introduced by President Bola Tinubu’s administration.
The minister further explained that the inclusion of the surcharge in the 2025 Act is aimed at consolidating and harmonizing existing laws for greater clarity and easier compliance.
He said, “The tax reform bills and the tax act would not become operational until January 1, 2026, and the 5 per cent fuel surcharge which is mentioned therein will not automatically come into effect. There is even a process.
“Before any surcharge can come into effect it requires the commencement order from the honourable Minister of Finance and this indeed must be published in a gazette, so it is not automatic that we will wake up on January 1 and there is a new tax.
“There is a whole formal process involved and as at today no order has been issued, no is being prepared and there is no immediate plan to implement any surcharge.”
On Monday, the Trade Union Congress (TUC) rejected the 5 per cent tax on petroleum products, describing it as a “reckless proposal” which is “nothing but an act of economic wickedness against already overburdened Nigerians”.
The union said that the government policy, if implemented, would compound suffering, cripple businesses, and push millions of citizens deeper into poverty.
It stated that the Federal Government cannot continue to use Nigerians as sacrificial lambs for its economic experiments.
News
NMDPRA approves F-500 Encapsulator Agent for oil depots, pipelines with strict three-year terms
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has approved the F-500 Encapsulator Agent fire suppressant for use across midstream and downstream petroleum operations, subject to strict three-year conditions and regulatory monitoring.
The fluorine-free agent is now cleared for deployment in depots, pipelines and processing facilities, the NMDPRA said in a circular dated March 12, 2026 and signed by Mustapha Lamorde, PhD, on behalf of the Authority Chief Executive.
The sector-wide approval followed a two-step process.
Okama Infinity Nigeria Limited received company-specific clearance in February 2025 after the product passed Safety Data Sheet validation and eco-toxicity tests under Nigerian conditions.
The March directive extends eligibility to all licensees, operators, and service providers.
Under the Petroleum Industry Act and 2023 environmental regulations, the NMDPRA said the approval is conditional and revocable. It runs for three years from March 12, 2026.
Operators must comply fully with existing petroleum and environmental laws. Any change to the product’s formulation without prior approval voids the clearance and triggers mandatory re-certification.
Distributors must file quarterly inventory returns showing volumes imported, distributed, and deployed. The regulator reserves the right to review, revise, or withdraw approval based on field performance or new evidence.
The F-500 Encapsulator Agent offers a non-toxic, fluorine-free alternative to older foam systems that have raised environmental concerns. Fire risk remains a major hazard in petroleum storage and transport.
The NMDPRA said the rollout will be closely monitored to ensure field performance matches technical claims. For operators, the approval adds fire response capability but also increases reporting and compliance duties.
Managing Director of Okama Infinity Nigeria Limited, Sir Oghenekaro Jockey expressed joy over the approval granted by the regulatory agency.
Jockey assured stakeholders of the company’s commitment to excellent service delivery.
Former Secretary to the Government of the Federation, Babachir Lawal has shared details of a private conversation he had with late President Muhammadu Buhari about his political ties and disagreements involving President Bola Ahmed Tinubu.
Recall that Lawal spoke in an interview on Channels Television, where he said the conversation happened shortly before Buhari’s death.
He explained that Buhari warned him about possible political disagreements that could come up between him and Tinubu in the future.
According to him, the late president said such situations were likely but should be handled carefully.
He said Buhari advised that any clash in political views should remain focused on governance and public issues.
The former president, he added, made it clear that personal attacks should be avoided, and discussions should remain centered on national matters rather than personal matters.
Lawal said he accepted the advice and made a promise to follow it. He explained that since then, he has tried to keep his public comments about Tinubu within political issues only, without bringing in personal matters.
He added that Buhari told him he might end up in political disagreement with someone he considered a friend, but he should avoid turning it into something personal. Lawal said he agreed to that guidance at the time and has tried to respect it in his political activities.
Quoting his exchange with Buhari, Lawal said the late president told him, “You are going to fight your friend politically; please promise me you will not go personal with your fight.”
The National Chairman of the All Progressives Congress (APC) has stated that the party can only adopt a consensus candidate where all aspirants voluntarily agree to the arrangement.
Speaking on the party’s nomination process, the chairman emphasized that consensus candidacy is not imposed but must be the product of mutual consent among all contenders seeking the ticket.
In a statement, the chairman clarified that any consensus candidate must have backing of all the contenders.
— Prof. Nentawe
NMDPRA approves F-500 Encapsulator Agent for oil depots, pipelines with strict three-year terms
Ex SGF Babachir reveals what Buhari told him about Tinubu before his demise
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