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Nigeria has postponed the rollout of its new tax law, including a controversial 5% fuel surcharge, until January 2026 in response to fears of worsening living costs. Finance Minister Wale Edun stressed that while the levy stems from a 2007 law, it requires a formal proclamation to take effect, and the government has delayed implementation due to current economic pressures. The move follows President Bola Tinubu’s sweeping reforms—ending fuel and power subsidies and devaluing the naira—that have triggered the sharpest cost-of-living crisis in decades. Although the tax law aims to harmonize rules and boost revenue, officials say protecting Nigerians from added hardship must come first.
CNBC Africa