The African Democratic Congress (ADC) has alleged that President Bola Tinubu might introduce a 5 per cent gasoline tax after the 2027 presidential election if he secures re-election, warning that the measure might push petrol costs above N1,500 per litre.
The occasion mentioned the proposed tax might enhance the monetary burden on Nigerians already grappling with excessive transportation prices, rising meals costs and different financial challenges.
The ADC National Publicity Secretary, Mallam Bolaji Abdullahi, acknowledged this in a press launch yesterday whereas reacting to feedback by the Minister of Finance, Taiwo Oyedele, that the federal government would introduce the gasoline tax when financial situations improved.
Oyedele reportedly made the disclosure on the sidelines of the International Monetary Fund (IMF) assembly in Bangkok, Thailand.
Reacting, Abdullahi alleged that the federal government’s determination to delay the implementation of the tax was influenced by political concerns forward of the 2027 basic elections.
According to him, the 5 per cent gasoline tax has already been supplied for underneath the Nigeria Tax Act, which he mentioned Tinubu signed into legislation in June 2025.
“They have already enacted the law for a five per cent tax on fuel under the Nigeria Tax Act. President Tinubu has signed it into law since June 2025. If they have not activated it yet, it is because of re-election,” Abdullahi mentioned.
He additional alleged that the president might announce the implementation of the tax after securing one other time period in workplace, drawing a comparability along with his declaration on gasoline subsidy removing throughout his inauguration on May 29, 2023.
“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,” the ADC spokesman mentioned.
The occasion argued that implementing the proposed tax might lead to one other enhance within the pump value of petrol, with penalties for households, transport operators, merchants and companies that depend upon gasoline for his or her each day operations.
It illustrated the potential impression utilizing a petroleum value of N1,450 per litre, stating {that a} 5 per cent surcharge handed on to shoppers would enhance the value to N1,522.50 per litre.
The ADC warned that such a rise might additional elevate the price of public transportation, items distribution and important providers, probably worsening the monetary difficulties confronted by households and small companies.
The occasion additionally criticised the administration’s justification for the proposed tax, which it mentioned was supposed to assist highway infrastructure and fuel-price stabilisation.
It argued that the federal government ought to reveal measurable enhancements in infrastructure and financial situations earlier than introducing further prices that would enhance the price of dwelling.
The ADC mentioned Nigerians had been already contending with the consequences of earlier financial coverage selections, together with the removing of petrol subsidies, and urged the federal government to prioritise measures that might ease the strain on households fairly than introduce further monetary obligations.
The occasion additionally cited Tinubu’s place on gasoline taxation when he was governor of Lagos State, claiming that he opposed an analogous proposal by the administration of former President Olusegun Obasanjo in December 2003.
According to the ADC, Tinubu had then described the proposed gasoline tax as “double taxation,” arguing that it will impose a further burden on residents.
The occasion questioned what it described as a departure from that place, accusing the president of supporting a measure that would additional enhance the price of dwelling.
It, nevertheless, urged Nigerians to contemplate the choice financial coverage proposed by its presidential candidate, Atiku Abubakar, which it described as a gasoline manufacturing subsidy.
The ADC argued that the proposed measure would assist cut back petrol costs and ease the price of dwelling, though the press launch didn’t present particulars of its proposed implementation or financing.
The occasion maintained that the federal government ought to concentrate on insurance policies able to decreasing the price of important items and providers as Nigerians proceed to cope with financial pressures.
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