Adewole Adebayo, the 2023 Social Democratic Party presidential candidate, has criticized President Bola Tinubu’s recent approval of a 15 per cent import duty on refined petroleum products, calling it an unfair tax that will deepen the economic suffering of Nigerians.
Speaking on Channels Television’s Politics Today, Adebayo described the import duty as an exploitative policy that contradicts the ideals once championed by Tinubu. He accused the president of becoming overly focused on taxation, warning Nigerians that the government might soon tax the very air they breathe.
The import duty, aimed at protecting local refineries and stabilizing the fuel market, was approved following a proposal from the Federal Inland Revenue Service (FIRS). Yet, Adebayo argued that it unfairly shifts the burden to consumers.
President Tinubu is a clever tax collector. He wants to collect taxes from you for everything, including the oxygen tax, very soon…If you put 15 per cent tariffs on imported petrol, who is going to pay for it? It’s going to be paid by the person who buys the petrol at the filling station.
Beyond tax, Adebayo heavily criticized the government’s failure to make Nigeria’s refineries operational. As Tinubu also serves as the Minister of Petroleum, Adebayo challenged the administration for ignoring refinery repairs despite billions spent on maintenance.
He urged the president to prioritize fixing the country’s refineries, calling on key officials like Heineken Lokpobiri and Bayo Ojulari to get the refineries functional within six months and reduce fuel importation to zero.
Presently, Nigeria imports about 67 per cent of its petrol despite the startup of Dangote’s 650,000 barrels-per-day refinery.
It is an anti-people decision and a trend in the new Tinubu. The Tinubu who used to be in SDP, following Abiola doing Hope 93, has now practically changed to the side of the money people. They see you as a customer, not as a citizen. If you have twins and triplets in your house, Tinubu is going to think of twins tax or multiple childbirth tax. He’s just thinking of how to collect more money. It’s wrong – Adebayo
The 15 per cent petrol import duty marks a new phase in the fuel policy of the country, intending to boost local refining but risking higher prices pump for consumers. Critics like Adewole Adebayo caution that without functional refineries and economic relief, the policy will only exacerbate the daily struggles of Nigerians.
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