RSG Tackles CBN Over N50 Stamp Duty Charges

The Rivers State Government has vowed to check any form of double taxation in the state, just as it appealed to the Central Bank of Nigeria (CBN) to review its N50 stamp duty charge on business owners using the POS in the state.
The state Commissioner for Energy and Natural Resources, Dr. Peter Medee stated this during a meeting with Licensed Petroleum Products Station Owners Association in Rivers State (LIPPSOAR) led by its Chairman, Sunny Nkpe at his office in Port Harcourt, last Friday.
Medee explained that paying the extra N50 charge was a form of double taxation, which the state government under Governor Nyesom Wike was bent on stopping.
He said, “When the transporter goes to the fuel station to buy the product, and he is charged extra N50, he passes it on to the passengers in any way he can, but definitely he will pass it on, and by so doing exploiting Rivers people.”
Medee, in a five-point communique he jointly signed with LIPPSOAR Chairman, Comrade Sunny Nkpe, and read to newsmen, said the N50 petrol stamp duty fee by the CBN for the use of POS remains a merchant fee which should be paid by business owners and not the customers.
The commissioner charged the association not to allow their facilities to be used for any unpleasant activity that may negatively affect residents of the state and the environment.
The communique reads, “Government understands the challenges and difficulties the members of Licensed Petroleum Products Station Owners Association of Rivers State face on the implementation of the N50 stamp duty.
“That the N50 stamp duty is a merchant fee and should be so regarded. Further engagements will be made with the CBN for appropriate review of the N50 stamp duty charges, considering the fact that LIPPSOAR and operating in Rivers State, are adversely affected because their businesses are highly regulated.
“That LIPPSOAR members are advised not to allow their facilities to be used for any unwholesome practices that will adversely affect the residents and environment of Rivers State.”
In his remarks, LIPPSOAR Chairman, Sunny Nkpe, said the association would adhere to the decisions taken at the meeting, noting that his members have remained partners with the ministry and the state government.
He added, “On our part, LIPPSOAR and other stakeholders, we want to promise the commissioner, his team and the Government of Rivers State of our usual support and cooperation at all times.

Dennis Naku & Ruth Alpheus