The Independent Petroleum Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Association of Nigeria (PETROAN) has in separate statements kicked against the planned re-introduction of Petroleum Tax being proposed by the Nigerian Customs Service (NCS).
The Independent Petroleum Association of Nigeria, while speaking through its National Operation Controller, Mr. Mike Osatuyi, said an attempt by any agency to reintroduce any form of additional tax burden would translate to increased retail pump price of petroleum products. He queried how the Nigerian Customs Service (NCS) derived such powers to pronounce tax or levies on petroleum products. According to him, “when has the NCS become the Petroleum Products Pricing Regulatory Agency (PPPRA)”?
In the same vein, the National President, Petroleum Products Retail Outlets Association of Nigeria (PETROAN) – Mr. Billy Gillis-Harry said the planned re-introduction of Petroleum Tax by Nigerian Customs Service (NCS) would further compound the hardship faced by Nigerians. He warned that any further financial pressure from the Federal Inland Revenue Services (FIRS), NCS, PPPRA or any agency of the government will be too much a burden to bear by players operating in the downstream sector and Nigerians to bear.
Recall that the Comptroller General of the Nigerian Customs Services (NCS), Col. Hammed Alli (Rtd.) had at the budget defence of the Service in Abuja on Friday disclosed to the Nigerian Senate that his Agency has asked the Federal Government to reintroduce the abolished N1.50k per litre imposed on Petroleum products in accordance with the Petroleum Product Tax Regime of 2004.
This move, according to the Comptroller General, was to enable it expand the revenue source of the government and that it has the potential to narrow or supplement government deficit budget.