Say Pump Price May Rise Above N1,500.
The African Democratic Congress (ADC) has warned that President Bola Tinubu’s planned implementation of fuel tax may be announced on inauguration day, if he’s re-elected, thereby pushing petrol prices beyond N1,500 per litre and worsening the already devastating cost-of-living crisis confronting millions of Nigerians.
ADC was reacting to Finance Minister Taiwo Oyedele’s disclosure on the sidelines of the IMF meeting in Bangkok, Thailand, that the government would introduce the fuel tax when economic conditions improve.
The National Publicity Secretary of the ADC, Mallam Bolaji Abdullahi; however said the government’s real plan is 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. 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,” Abdullahi said.
The party 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. Each time Nigerians struggle to recover from one punishing policy, another burden is waiting around the corner. A government that has already removed fuel subsidies and subjected citizens to unprecedented economic pressures should be discussing relief, not preparing additional taxes.”
The ADC questioned the administration’s justification that the proposed tax would support road infrastructure and fuel-price stabilisation, insisting that Nigerians deserve 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. Now, Tinubu does not care if the people are burdened to death,” ADC said.
The party urged Nigerians to embrace the fuel production subsidy being proposed by its Presidential candidate, Atiku Abubakar. “It’s the only way to bring down, not only the cost of fuel, but also the cost of living generally,” the party said.
