Adebayo Slams Tinubu Over 15% Petrol Import Duty, Calls Policy ‘Anti-People and Exploitative’

The 2023 presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has condemned President Bola Ahmed Tinubu’s approval of a 15 per cent import duty on refined petroleum products, describing the policy as “anti-people” and “exploitative.”

Speaking on Channels Television’s Politics Today on Thursday, Adebayo accused the Tinubu administration of imposing excessive taxes on Nigerians, warning that the policy would worsen the already difficult economic conditions in the country.

“President Tinubu is a clever tax collector. He wants to collect taxes from you for everything — very soon it will be the oxygen tax,” Adebayo said sarcastically. “If you’re not careful, yes, the air we breathe. Just give him time; he’s going to get there.”

The SDP flagbearer criticised the new import duty as unjust and inconsistent with the ideals Tinubu once stood for, particularly during his days in the Social Democratic Party under the “Hope 93” campaign led by the late M.K.O. Abiola.

“It is an anti-people decision and a trend in the new Tinubu. The Tinubu that used to be in SDP, following Abiola everywhere, has practically changed to the side of the money people,” Adebayo said. “They now see citizens as customers. If you have twins or triplets, he’ll probably think of a twins tax or ‘multiple childbirth tax.’ He’s just thinking of how to collect more money. It’s wrong.”

Adebayo argued that the import duty would ultimately be borne by ordinary Nigerians, as the cost would be passed down to consumers through higher fuel prices.

“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,” he explained.

He blamed the federal government for its continued dependence on imported fuel, faulting President Tinubu for failing to make Nigeria’s state-owned refineries functional despite years of maintenance spending.

“You are the reason why we cannot meet our domestic consumption,” Adebayo said, referring to Tinubu’s dual role as President and Minister of Petroleum. “We spent billions on turnaround maintenance, yet the refineries are still not working. You are the reason why we are importing now. And because you are importing, you went from saying ‘there is no subsidy’ to now surcharging Nigerians for your inefficiency. Am I the reason why refineries are not working?”

The SDP candidate urged the President to shift focus from tax collection to fixing the country’s refining capacity. “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,’” he said.

President Tinubu recently approved the 15 per cent ad-valorem import duty on petrol and diesel, directing the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to begin implementation.

The directive followed a proposal from FIRS Chairman Zacch Adedeji, who described the measure as part of a “market-responsive import framework” designed to protect local refineries and stabilise the downstream petroleum sector.

While the federal government insists that the policy will encourage domestic refining and create a level playing field for producers, energy analysts and market experts warn that the new tariff could drive up pump prices and further strain household budgets.

Nigeria currently imports about 67 per cent of its petrol needs despite the commencement of production at the 650,000 barrels-per-day Dangote Refinery, underscoring the country’s ongoing dependence on imported fuel.