The African Democratic Congress (ADC) has criticised President Bola Tinubu’s approval of a 15 per cent import duty on petrol and diesel, describing the decision as insensitive and capable of worsening the economic hardship being experienced by Nigerians.
In a statement issued on Friday in Abuja by its National Spokesperson, Mr Bolaji Abdullahi, the party said that while it supports private investment in the energy sector, government policies must place the welfare of citizens above fiscal gains.
“The Tinubu administration’s approach to economic reform has remained insensitive to the suffering of ordinary Nigerians. Any economic growth that condemns the majority to hardship and misery is ultimately destructive,” Abdullahi said.
President Tinubu had earlier this month approved a 15 per cent ad valorem import duty on petrol and diesel. The approval, dated Oct. 21 and made public on Oct. 30, was conveyed through his Private Secretary, Mr Damilotun Aderemi, to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for immediate implementation.
The directive followed a proposal by the FIRS Executive Chairman, Mr Zacch Adedeji, under what the government described as a “market-responsive import tariff framework” aimed at protecting local refineries and stabilising the downstream oil sector.
However, petroleum marketers have warned that the policy could push the pump price of petrol above N1,000 per litre, from the current average of about N850, according to media reports.
The ADC faulted the government’s justification for the policy, citing the yet-to-be-completed $1.5 billion Port Harcourt refinery rehabilitation project, which it said had already drained public resources with little result.
“A government that cannot run its own refineries has no moral right to tax those who keep the country running through their sweat and toil,” the statement added.
The party urged President Tinubu to immediately withdraw the directive, saying the measure would worsen inflation and further raise the cost of living, food, transport, rent, and education.
Nigeria, Africa’s largest oil producer, imports more than 60 per cent of its refined petroleum products due to limited domesticrefining capacity.