Nigerian Govt, PENGASSAN, Dangote Refinery reach truce.

The Federal Government, on Tuesday, brokered a truce between the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the management of Dangote Petroleum Refinery.

The Minister of Labour and Employment, Dr Muhammad Maigari-Dingyadi, made this known in a statement on Wednesday at the end of a two-day conciliation meeting in Abuja.

The meeting, which held on Monday and Tuesday, brought together the National Security Adviser, Ministers of Finance, Budget and Economic Planning, and State for Petroleum (Gas), alongside the DSS, NIA, NNPCL, NMDPRA, NUPRC and labour leaders.

Recall that the conciliation was convened after PENGASSAN directed its members to stop gas supply and withdraw services from the refinery.

PENGASSAN had alleged that the company terminated the employment of more than 800 of its members, which triggered the industrial action.

Meanwhile, Dangote Refinery explained that the disengagement of workers was due to an ongoing restructuring exercise in the company.

According to the communiqué, the meeting resolved that unionisation is a fundamental right of workers under Nigerian law and must be respected by the company.

Tax Reform Act takes effect, workers earning less than N800,000 annually, exempted from taxation.

President Bola Ahmed Tinubu, on Thursday June 26, signed the tax reform bills into law, exempting workers earning below N800,000 annually from taxation.

Fresh Angle International, can report that the Act, which changed the nomenclature of Federal Inland Revenue Service, FIRS, to Nigeria Revenue Service, NRS, gives the NRS mandate to collect revenues previously handled by agencies such as the Nigeria Customs Service, NUPRC, NPA, and NIMASA.

Key highlights of the tax reform Act, include:

25% personal income tax applies only to individuals earning above ?50 million annually.

Small businesses owners are exempted from paying income tax.

Company income tax for medium and large companies will be reduced from 30% to 25% starting in 2026.

Value Added Tax (VAT) exemptions on essential goods and services consumed by the poor, including food items, medical services, pharmaceuticals, educational fees, and electricity.


VAT remains at 7.5%, and corporate income tax stays at 30%. NO INCREMENT!

Introduction of a Development Levy ranging from 4% to 2%, allocated to support the NELFUND, TETFund, NITDA, and NASENI.