TAIWO OYEDELE DISMISSES FUEL TAX REPORTS AS FAKE NEWS, REAFFIRMS FEDERAL GOVERNMENT HAS NO PLANS TO TAX PETROL

Chairman of Presidential Fiscal Policy and Tax Reform Committee clarifies misconstrued remarks, emphasizing that imposing fuel levies would be insensitive to citizens adjusting to petrol subsidy removal

The Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, has dismissed reports alleging that the Federal Government intends to introduce a fuel tax once the national economy stabilizes, labeling the claims as false and misleading.

Rebutting viral online reports, Oyedele clarified that media outlets had misinterpreted his remarks from a recent interview conducted on the sidelines of international economic meetings, reaffirming that a petrol levy is not on the administration's policy agenda.

Oyedele emphasized that introducing a fuel tax under current economic realities would be highly insensitive to Nigerians who are still navigating the financial adjustments following the complete removal of the petrol subsidy.

He further explained that imposing a fuel tax during a period of subsidized energy or transitional price adjustments would be counterproductive, stressing that government priority remains focused on expanding household income levels faster than inflation rather than introducing new consumer burdens.

Urging the public and financial stakeholders to disregard misleading headlines, Oyedele reiterated the Federal Government's commitment to implementing holistic fiscal reforms that foster economic stability, streamline existing tax structures, and promote sustainable growth without exacerbating hardship for citizens.