The African Democratic Congress (ADC) says President Bola Tinubu may announce the implementation of the fuel tax law during his next inauguration if re-elected for a second term.
A statement on Tuesday by Bolaji Abdullahi, the ADC national
publicity secretary, said the tax, if implemented, could push the price of
petrol above N1,500 per litre nationwide.
The party was reacting to a recent remark by Taiwo Oyedele,
minister of finance and coordinating minister of the economy, that the federal
government would introduce the fuel tax when the economy stabilises and income
levels improve enough for Nigerians to accommodate it.
Oyedele spoke during an interview with Rotus Odiri, Arise TV
business correspondent, on the sidelines of the 2026 International Monetary
Fund (IMF) and World Bank annual meetings in Bangkok, Thailand.
Although Oyedele did not give a specific date for the
implementation of the fuel tax, he said revenue from the proposed levy would be
dedicated to road infrastructure and the development of a fuel reserve “to help
moderate prices of fuel products if anything happens”.
‘ANOTHER BURDEN TO NIGERIANS’
However, Abdullahi claimed that the government’s real plan
was to activate the tax law once Tinubu is re-elected.
“They have already enacted the law for a 5% tax on fuel
under the Nigeria Tax Act,” the statement reads.
“And President Tinubu has signed it into law since June
2025. If they are not activated it yet, its because of re-election. Once Tinubu
is re-elected, he will announce the new tax law on the inauguration ground,
just as he did for fuel subsidy in 2023.”
He warned that at a petrol price of N1,450 per litre, a five
per cent surcharge passed directly to consumers would raise the price to
N1,522.50, with potentially devastating consequences for transportation, food
distribution, small businesses and household expenditure.
“This Tinubu-led APC never runs out of new ways to make
survival more expensive,” he said.
“Each time Nigerians struggle to recover from one punishing
policy, another burden is waiting around the corner.”
Abdullahi argued that a government that had already removed
fuel subsidies and subjected citizens to “unprecedented economic pressures”
should be discussing relief rather than preparing additional taxes.
He questioned the administration’s justification that the
proposed tax would support road infrastructure and fuel-price stabilisation,
insisting that Nigerians deserved measurable improvements before being asked to
shoulder further financial obligations.
“We recall that as governor of Lagos State, in December
2003, Tinubu vehemently opposed the fuel tax being contemplated by the Obasanjo
administration, describing it as ‘double taxation’ that placed unfair burden on
citizens,” Abdullahi said.
“Now, Tinubu does not care if the people are burdened to
death.”
He urged Nigerians to embrace the subsidy model proposed by
former Vice-President Atiku Abubakar, the ADC presidential candidate.
Abdullahi said the Atiku subsidy model remained the only way
to bring down not only the cost of petrol, but also the cost of living
generally in the country.
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