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Fed Govt Slightly Reverse The Price of PMS

Queue at the filing station  The President,  Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr  Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
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Fed Govt- Shippers: Pay Tax Liabilities Within Six Months


By Favour & Akinola Ajibade


The Federal Government has set up a technical committee to resolve issues relating to the payment of tax liabilities to the Federal Inland Revenue Service  (FIRS) within a period of six months.

The committee, which comprises of the Nigerian National Petroleum Company Limited ( NNPCL), Nigerian Upstream Petroleum Regulatory Commission ( NUPRC) , Nigerian Midstream and Downstream Petroleum Regulatory Authority ( NMDPRA), Federal Inland Revenue Service ( FIRS), the Presidency and the Presidency in the Office of Chief of Staff , Special Adviser Energy and her counterpart in Revenue  Section, have been mandated by the Federal Government, to ensure that all tax liabilities are paid in the next six months.

Prior to this period, the government has ordered ship owners operating in the country to pay up their outstanding tax liabilities to the Federal Inland Revenue Service ( FIRS) within three months, with a view to ensure that all debts owed by owners are paid to this coffers of the government.

Recall that some companies were owing several millions of dollars in tax liabilities covering over 10 years.

Speaking on the issue during an interactive sessions with ship operators at the Presidential Villa, Abuja, the Special Adviser to the President on Revenue, Zacheaus Adedeji warned  that Nigeria can no longer afford a situation where vessels are moving in and out of the country without prompt payment of their liabilities.

Adedeji notes that ship owners have received demand notices from Federal Inland Revenue Service (FIRS), in line with the extant laws of the country on tax liabilities covering ten year period from 2010 to 2019, and ranging in amount from $400,000 to $1.1 million per vessel, aggregating it to reach tens of millions of dollars.

“So, we’ve agreed to give the parties three months to come to the conclusion and we will also give a grace period of six months, when we will not enforce any of these laws, just to allow for reconciliation’, Adedeji said at the meeting.

“In essence, no vessel or ship will be detained or delayed. So, we give this six months break for them so that they can reconcile with this technical committee that we set up.

“Nigeria, as you know, is open for business and we are business-friendly, as you’ve seen from what we’re doing and what we will do.

“So, we are open, but that is not to say that anybody will take advantage of the country. We have the law and the law must be respected”, he said.

He allayed the fears of the stakeholders within the oil and gas sector, spelling out the agreement reached to avert vessel withdrawal so as not to disrupt the flow of products.


He said the problem arose from the demand notice to the vessel owners issued in accordance with extant tax laws to make their remittances.

Adedeji, however, warned that Nigeria would not succumb to blackmail as its laws must be obeyed.

“However, we will not detain or arrest any defaulting ship or vessel because this is what is causing panic.

“We’ve sent them demand notice and the agreement is that we should give them some time. So, we’ve agreed to set up a technical committee to resolve these issues.


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