Tinubu may impose ‘Oxygen Tax’ if Nigerians are not careful  —  Adebayo

Prince Adewole Adebayo, the 2023 presidential candidate of the Social Democratic Party (SDP), has strongly criticized President Bola Tinubu’s administration for approving a 15% import duty on refined petroleum products. He labeled the policy as exploitative and detrimental to the public.

During an appearance on Channels Television’s Politics Today, Adebayo accused the president of prioritizing revenue generation over the welfare of citizens, stating that the government is overburdening Nigerians with taxes.

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

Adebayo described the new tariff as an “anti-people decision” that contradicts the ideals Tinubu previously supported. He argued that the policy would increase the financial strain on Nigerians already facing a rising cost of living, as the cost of the tariff would ultimately be passed on to consumers at the pump.

He also faulted the federal government’s continued dependence on fuel imports, blaming its failure to repair the nation’s refineries despite repeated investments.

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“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.

Adebayo urged the president to focus on making domestic refineries operational within six months to eliminate the need for imports. While the federal government has defended the tariff as a measure to protect local refineries and stabilize the sector, Adebayo maintains that fixing the refineries should be the priority over imposing new taxes.