The African Democratic Congress (ADC) has alleged that President Bola Tinubu could announce the implementation of a five per cent fuel tax on his inauguration day if he wins re-election in 2027, warning that the policy could push petrol prices above N1,500 per litre.
The party made the claim in a statement issued on Tuesday, October 20, by its National Publicity Secretary, Bolaji Abdullahi, following comments by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on the proposed tax.
Oyedele had said the Federal Government would introduce the levy when the economy stabilises and Nigerians’ income levels improve enough to accommodate the additional financial burden.
He made the remarks during an interview with Rotus Odiri, Arise TV business correspondent, on the sidelines of the 2026 International Monetary Fund (IMF) and World Bank annual meetings in Bangkok, Thailand.
Although the minister did not announce a specific implementation date, he said revenue from the tax would be channelled towards road infrastructure and the development of a fuel reserve “to help moderate prices of fuel products if anything happens”.
Reacting, the ADC accused the Tinubu administration of delaying implementation for political reasons, alleging that the government could activate the tax after securing another presidential term.
“They have already enacted the law for a 5% tax on fuel under the Nigeria Tax Act,” the statement reads.
“And President Tinubu has signed it into law since June 2025. If they are not activated it yet, its because of re-election. 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.”
Abdullahi warned that the additional levy could further increase the cost of living, noting that a five per cent surcharge on petrol selling at N1,450 per litre would raise the price to N1,522.50.
READ ALSO: TUC to FG: Scrap 5% Fuel Tax or Face Nationwide Strike
He said the resulting increase could have far-reaching consequences for transportation, food distribution, small businesses and household spending.
“This Tinubu-led APC never runs out of new ways to make survival more expensive,” he said.
“Each time Nigerians struggle to recover from one punishing policy, another burden is waiting around the corner.”
The ADC spokesperson argued that the government should focus on easing economic hardship instead of introducing additional taxes after the removal of fuel subsidies and what he described as “unprecedented economic pressures” on Nigerians.
He also questioned the administration’s justification for the proposed levy, insisting that citizens should see measurable improvements in road infrastructure and fuel-price stability before being asked to pay more.
Abdullahi recalled that Tinubu, while serving as Lagos State governor in December 2003, opposed a proposed fuel tax under the administration of former President Olusegun Obasanjo, describing it as “double taxation”.
“We recall that as governor of Lagos State, in December 2003, Tinubu vehemently opposed the fuel tax being contemplated by the Obasanjo administration, describing it as ‘double taxation’ that placed unfair burden on citizens,” Abdullahi said.
“Now, Tinubu does not care if the people are burdened to death.”
The party urged Nigerians to embrace the fuel subsidy model proposed by former Vice-President Atiku Abubakar, the ADC presidential candidate, arguing that it offered a way to reduce petrol prices and the broader cost of living.
Oyedele, however, did not specify when the government would implement the proposed fuel tax, saying only that the timing would depend on improved economic conditions and Nigerians’ ability to absorb the cost.