The African Democratic Congress (ADC) has criticized President Bola Tinubu’s approval of a 15 percent import tariff on petrol and diesel, describing the policy as insensitive and likely to worsen the economic hardship already confronting millions of Nigerians.
The party stated that while it supports private investment in the energy sector, policies intended to protect such investments must also safeguard the interests of the people.
In a statement signed by its National Publicity Secretary, Bolaji Abdullahi, the party noted that the new levy is likely to push the pump price of petrol above ₦1,000 per litre.
It warned that such an increase would make life even more unbearable for families, commuters, transporters, farmers, and small businesses already struggling under the burden of fuel subsidy removal without social protection and currency devaluation without safeguards.
The ADC asserted that the Tinubu administration’s “Renewed Hope Agenda” has, at best, become a trial-and-error experiment and, at worst, a cynical, self-serving programme showing little regard for the welfare of ordinary Nigerians.
It added that while the government continues to project a narrative of economic progress, the realities of food, rent, transportation, and school fees have pushed basic necessities beyond the reach of the average citizen.
The party stressed that persisting with this latest tax policy would only deepen the suffering of the people.
The Statement read partly, “The African Democratic Congress (ADC) has strongly opposed President Bola Ahmed Tinubu’s approval of a 15 percent import duty on petrol and diesel because it may further deepen the economic hardship for Nigerians already burdened by the astronomically high cost of living, warning the President not to push the people to the wall.
“The party also questioned the rationale behind imposing the levy under the guise of protecting domestic production, pointing out that the Port Harcourt refinery, cited as a key component of the government’s local refining strategy, collapsed just five months after a 1.5 billion dollar rehabilitation, resulting in a 366.2 billion naira loss.
“The party notes that the Tinubu administration’s approach to economic reform has remained insensitive to the suffering of the ordinary people, warning that economic growth that condemns the majority to a life of hardship and misery is ultimately destructive.”
