FG Backs Down, Says No Immediate Plan to Enforce 5% Petroleum Products Tax

The Federal Government has moved to calm growing tension over the controversial 5 per cent Petroleum Products Tax, saying there are no immediate plans to enforce the policy.

Finance Minister and Coordinating Minister of the Economy, Wale Edun, gave the assurance during a press briefing in Abuja on Tuesday. His comments came after the proposed levy, contained in the new tax legislation, sparked outrage across the country.

Nigerians, already grappling with high fuel prices and inflation, expressed fears the tax would further worsen the cost-of-living crisis. Organised labour also issued a stern ultimatum, warning the government to scrap the plan or face industrial action.

With the clarification, the government appears to be stepping back—at least for now—while labour unions and citizens continue to watch closely for its next move.