Fix Refineries Instead of Imposing More Taxes, SDP’s Adebayo Urges Tinubu

The 2023 presidential candidate of the Social Democratic Party, Prince Adewole Adebayo, has criticised President Bola Tinubu’s approval of a 15 percent import duty on refined petroleum products. Adebayo described the move as an “anti-people decision” that would worsen the financial hardship faced by Nigerians.

Speaking in a TV interview monitored by Radio Now’s Newsdesk, Adebayo accused the president of excessive taxation and said the policy would ultimately raise petrol prices at filling stations. He argued that the government should address inefficiencies in the oil sector rather than transfer the cost of poor management to citizens.

Adebayo blamed the government’s failure to make local refineries functional for Nigeria’s dependence on imported fuel. He urged the president, who also serves as Minister of Petroleum, to ensure that domestic refineries become operational within six months to reduce importation.

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President Tinubu had earlier directed the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to implement the new tariff as part of a plan to stabilise the downstream market.