- this new levy could push petrol prices above ₦1,000 per litre
- any reform intended to encourage investment must also safeguard citizens’ welfare
- The party urged the president to withdraw the import duty
The African Democratic Congress (ADC) has called for the immediate reversal of President Bola Tinubu’s approval of a 15 percent import duty on petrol and diesel, warning that the decision will further compound the economic challenges facing Nigerians.
Eko Hot Blog gathered that in a statement issued on Friday by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC described the policy as insensitive, ill-timed, and ill-conceived, stressing that it would push fuel prices beyond the reach of ordinary citizens.
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“From all indications, this new levy could push petrol prices above ₦1,000 per litre, making life unbearable for families, farmers, transporters, and small businesses,” the statement read.
While supporting private sector participation in the energy industry, the party insisted that any reform intended to encourage investment must also safeguard citizens’ welfare.
The ADC questioned the justification for the new tax, especially when the Port Harcourt refinery, a major pillar of the government’s refining strategy, reportedly shut down barely five months after a $1.5 billion rehabilitation, leading to a ₦366.2 billion loss.
It also accused the Tinubu administration of pursuing economic policies without adequate social protection, describing them as “trial-and-error experiments” that ignore the daily struggles of Nigerians.
The party urged the president to withdraw the import duty, rebuild public confidence, and invest transparently in local refining, warning that discouraging fuel imports without boosting domestic capacity would only escalate costs and inflation.
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