The 2023 presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has criticised President Bola Tinubu for approving a 15 per cent import duty on refined petroleum products, describing the move as “an anti-people decision.”

Speaking on Channels Television’s Politics Today on Thursday, Adebayo accused the Tinubu administration of excessive taxation, alleging that its economic policies were exploitative and burdensome.

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

The SDP chieftain said the import duty contradicts the ideals Tinubu once stood for, recalling his past association with pro-people movements during the Hope ’93 era.
“It is an anti-people decision and a trend in the new Tinubu. Tinubu that used to be in SDP, following Abiola everywhere during Hope ’93, has practically changed to the side of the money people,” he said.

“They see you as a customer, not a citizen. If you have twins or triplets, Tinubu will think of twins tax or multiple-childbirth tax. He’s just thinking of how to collect more money. It’s wrong,” he added.

Adebayo warned that the new tariff would further deepen the economic hardship faced by Nigerians.
“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 petrol at the filling station,” he said.

He blamed the government’s inefficiency for the country’s dependence on fuel imports, accusing Tinubu of failing to make Nigeria’s refineries functional despite also serving as Minister of Petroleum.
“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.

“We spent billions on turnaround maintenance, yet the refineries don’t work. Because you are importing, you now want to surcharge me for your inefficiency. Am I the reason why refineries are not working?” Adebayo queried.

He urged the president to focus on reviving local refineries instead of introducing more taxes.
“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 had earlier approved a 15 per cent ad-valorem import duty on petrol and diesel imports into Nigeria, following a proposal from FIRS Chairman Zacch Adedeji for a “market-responsive import framework.”

While the government said the move aims to protect local refineries and stabilise the downstream market, experts have warned that it could lead to higher pump prices. Nigeria still imports about 67 per cent of its petrol needs despite the partial commencement of operations at the 650,000-barrel-per-day Dangote Refinery.