{"id":93432,"date":"2025-09-10T03:41:00","date_gmt":"2025-09-10T03:41:00","guid":{"rendered":"https:\/\/sotnews.agency\/?p=93432"},"modified":"2025-09-10T03:41:00","modified_gmt":"2025-09-10T03:41:00","slug":"nigeria-delays-new-tax-law-to-2026-amid-fears-of-worsening-living-costs","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=93432","title":{"rendered":"Nigeria delays new tax law to 2026 amid fears of worsening living costs"},"content":{"rendered":"
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Nigeria\u2019s\u00a0new tax law, including a contentious 5% fuel surcharge, will not take effect until January 1, Finance Minister Wale Edun said on Tuesday, seeking to calm fears over rising living costs amid widespread economic hardship.<\/p>\n

Edun told reporters in Abuja the surcharge, targeting petrol, diesel, and other fossil fuels, required a formal government proclamation and an official order signed by the finance minister to be published in the National Gazette before implementation.<\/p>\n

\u201cThe order will not be issued immediately. Government is aware of the economic situation of the times and would not deliberately increase the burden on Nigerians,\u201d he said.<\/p>\n

Since coming into office in 2023, President Bola Tinubu has ended petrol and electricity subsidies and twice devalued the naira currency as part of\u00a0reforms\u00a0to boost Nigeria\u2019s decade-long sluggish output. However, those steps triggered the worst cost-of-living crisis in a generation and have yet to deliver faster growth.<\/p>\n

The fuel surcharge is part of the new Nigeria Tax Act, signed into law in June, was designed to harmonise tax rules and boost revenue as part of a broader fiscal overhaul.<\/p>\n

While Edun emphasised that the surcharge was not a new tax, he noted its origins in a previous 2007 law, describing its inclusion in the new act as a move for \u201charmonisation and transparency\u201d.<\/p>\n<\/div>\n

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\"NigeriaNigeria’s\u00a0new tax law, including a contentious 5% fuel surcharge, will not take effect until January 1, Finance Minister Wale Edun said on Tuesday.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1972,1300,10,9,8253],"tags":[],"class_list":["post-93432","post","type-post","status-publish","format-standard","hentry","category-africa","category-nigeria","category-politics","category-popular","category-tax-law"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/93432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=93432"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/93432\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}