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The SDP 2023 presidential candidate criticised Tinubu’s approval of a 15 per cent import duty on refined petroleum products and described it as an “anti-people decision.”
Adewole Adebayo argued that the new tariff would further burden Nigerians, who are already facing harsh economic conditions.
The 2023 presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has criticised President Bola Tinubu’s approval of a 15 per cent import duty on refined petroleum products, describing it as an “anti-people decision.
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Adebayo, who spoke on Channels Television’s Politics Today on Thursday, accused President Tinubu of excessive taxation, saying the administration’s approach was exploitative.
“President Tinubu is a clever tax collector. He wants to collect taxes from you for everything, including the oxygen tax, very soon.
“If you’re not careful, yes, the air we breathe. Just give him time; he’s going to get there,” he
The SDP candidate described the import duty as unjust and inconsistent with the ideals Tinubu once championed.
“It is an anti-people decision and a trend in the new Tinubu. Tinubu that used to be in SDP, following Abiola everywhere doing Hope 93, has practically changed to the side of the money people.
“They see you as a customer, not 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,” he said.
The politician stated that the new tariff would further burden Nigerians, who are already facing harsh economic conditions.
He said, “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.”
‘Fix Refineries First’
Combo photo of Prince Adewole Adebayo (L) and President Bola Tinubu (R)
Adebayo faulted the decision, blaming the government for its failure to make Nigeria’s refineries functional.
“You are the reason why we cannot meet our domestic consumption. The president is the Minister of Petroleum. What kind of chaotic system is this?” he asked.
He argued that the president should focus on fixing refineries rather than imposing more taxes.
“For example, we gave you refineries to manage. You appointed yourself Minister of Petroleum. We spent billions on turnaround maintenance. You are not making the refineries work.
“You are the reason why we are importing now. Because you are importing, you went from ‘I’m not paying subsidy, we are net zero, nobody pays subsidy’, you now want to surcharge me for your inefficiency. Am I the reason why refineries are not working?” he queried.
Urging the president to prioritise local refining, Adebayo said, “What he needs to do is to call Heineken Lokpobiri and Bayo Ojulari and say, ‘I want those refineries to work. I give you six months, and I want fuel importation reduced to zero.’”
15% Import Duty
President Bola Tinubu had earlier approved a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria.
The directive was said to be addressed to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The letter followed a proposal from FIRS Chairman Zacch Adedeji seeking the tariff’s implementation as part of a “market-responsive import framework.”
According to the government, the policy aims to protect local refineries and stabilise the downstream market. However, experts warn it could push up pump prices.
Nigeria currently imports about 67 per cent of its petrol needs despite the gradual commencement of operations at the 650,000 barrels-per-day Dangote
