Nigeria Introduces 5% Fossil Fuel Tax to Promote Clean Energy
The Nigerian government has announced the imposition of a 5% tax on fossil fuel sales starting from January 2026. The new tax law requires Nigerians to pay a surcharge at the point of purchase for fossil fuel products produced in Nigeria, with exemptions for clean and renewable energy sources like household kerosene and cooking gas.
This tax is aimed at shifting demand towards cleaner energy sources and reducing carbon emissions. Experts view this tax as a step towards reducing the country's dependence on fossil fuels and increasing government revenue through carbon pricing.
The government's move aligns with global efforts to combat climate change and promote sustainable development.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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