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A Nigerian opposition party has claimed that President Bola Tinubu could announce a fuel tax on inauguration day if re-elected, citing an existing law it says provides for a five percent levy on petroleum products.
The African Democratic Congress (ADC) was reacting to remarks by Finance Minister Taiwo Oyedele at the IMF-World Bank meetings in Bangkok that the government would introduce the tax “at the appropriate time, when the economy has stabilised, and income level will be able to accommodate it.”
The ministry later said no fuel tax was under consideration.
“They have already enacted the law for a 5% tax on fuel under the Nigeria Tax Act. And President Tinubu has signed it into law since June 2025. If they are not activating it yet, it’s because of re-election,” ADC National Publicity Secretary Bolaji Abdullahi said in a statement on Tuesday.
“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.”
ADC said a five percent surcharge at a petrol price of N1,450 per litre would raise the pump price to N1,522.50, warning of consequences for transport, food distribution, small businesses and household budgets.
“This Tinubu-led APC never runs out of new ways to make survival more expensive,” the party said.
“Each time Nigerians struggle to recover from one punishing policy, another burden is waiting around the corner.
“A government that has already removed fuel subsidies and subjected citizens to unprecedented economic pressures should be discussing relief, not preparing additional taxes.”
The party questioned the government’s stated rationale that the tax would fund road infrastructure and fuel-price stabilisation, arguing Nigerians deserve measurable improvements before further financial obligations.
It recalled that Tinubu, as Lagos State governor in 2003, opposed a fuel tax proposed by the Obasanjo administration, calling it “double taxation.”
“Now, Tinubu does not care if the people are burdened to death,” the party said.
The ADC urged Nigerians to back the fuel production subsidy proposed by its presidential candidate, Atiku Abubakar.
“It’s the only way to bring down, not only the cost of fuel, but also the cost of living generally,” it said.
20 October 2026
FOR IMMEDIATE RELEASE
PRESS RELEASETINUBU WILL ANNOUNCE FUEL TAX ON INAUGURATION DAY IF RE-ELECTED, ADC WARNS
-Say Pump Price May Rise Above N1,500.The African Democratic Congress (ADC) has warned that President Bola Tinubu’s planned implementation of fuel tax may be announced on inauguration day, if he’s re-elected, thereby pushing petrol prices beyond N1,500 per litre and worsening the already devastating cost-of-living crisis confronting millions of Nigerians.
ADC was reacting to Finance Minister Taiwo Oyedele’s disclosure on the sidelines of the IMF meeting in Bangkok, Thailand, that the government would introduce the fuel tax when economic conditions improve.
The National Publicity Secretary of the ADC, Mallam Bolaji Abdullahi; however said the government’s real plan is to activate the tax law once Tinubu is re-elected.
“They have already enacted the law for a 5% tax on fuel under the Nigeria Tax Act. 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 said.
The party warned that at a petrol price of N1,450 per litre, a five per cent surcharge passed directly to consumers would raise the price to N1,522.50, with potentially devastating consequences for transportation, food distribution, small businesses and household expenditure.
“This Tinubu-led APC never runs out of new ways to make survival more expensive. Each time Nigerians struggle to recover from one punishing policy, another burden is waiting around the corner. A government that has already removed fuel subsidies and subjected citizens to unprecedented economic pressures should be discussing relief, not preparing additional taxes.”
The ADC questioned the administration’s justification that the proposed tax would support road infrastructure and fuel-price stabilisation, insisting that Nigerians deserve measurable improvements before being asked to shoulder further financial obligations.
“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. Now, Tinubu does not care if the people are burdened to death,” ADC said.
The party urged Nigerians to embrace the fuel production subsidy being proposed by its Presidential candidate, Atiku Abubakar. “It’s the only way to bring down, not only the cost of fuel, but also the cost of living generally,” the party said.
SIGNED:
Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)— African Democratic Congress (@ADCNig) October 20, 2026
