Nigerian govt waives VAT on diesel for six months, 15m households to get N75K

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The Federal Government has resolved to waive the Value Added Tax (VAT) on Automotive Gas Oil (AGO) otherwise known as diesel for six months.

This was one of the resolutions taken at the meeting between the federal government and organized labour held at the State House, Abuja.

The government had summoned the meeting in a bid to avert the indefinite strike planned by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to protest the hardship caused by the removal of fuel subsidy in the country.

The federal government was represented at the meeting by the Chief of Staff to the President, Femi Gbajabiamila, the Minister of Labour and Employment, Simon Lalong, and other ministers.

The labour team was led to the meeting by the NLC President, Joe Ajaero and his TUC counterpart, Festus Osifo.

In a statement issued at the end of the meeting, the Minister of Information, Mohammed Idris, said the government was ready to provide funds for Medium and Small Enterprises (MSMEs) in the country.

He added that the government would fast-track the introduction of Compressed Natural Gas (CNG) buses to address the problem of transpiration arising from the removal of fuel subsidy.

The minister said: “The Federal Government will commence the payment of N75,000 to 15 million households at N25,000 per month for a three-month period beginning from October-December 2023.

“A sub-committee is to constituted to work out the details of implementation of all items for consideration regarding government interventions to cushion the effect of oil subsidy removal.

“NLC and TUC will consider the offers by the Federal Government with a view to suspending the planned strike to allow for further consultations on the implementation of the resolutions above.”

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