Labour Party chieftain, Peter Obi, has faulted President Bola Tinubu’s new tax law imposing five per cent tax on fossil fuel sales from January 2026 amid widespread poverty and economic hardship.
Mr Obi, in a statement on Thursday, said, “When will Nigerians truly breathe” under an administration imposing more taxes amid economic hardships:
Highlighting the implications of the new tax law, Mr Obi said “Nigerians will pay a 5% tax when buying their everyday fuel or diesel at a time when millions can hardly even afford the cost of transportation.”
The former Anambra State governor stated, “Mr. President just yesterday boasted that Nigeria has met its revenue target for the year. Yet, instead of easing hardship, the government imposes more burden on Nigerians.”
“If our revenues are truly ‘excessive’ as claimed, should they not first be used to fund education, healthcare and pulling Nigerians out of poverty? Why tax citizens who cannot even breathe anymore?”
Mr Obi stated that the new tax law should be suspended until Nigerians felt the positive impact of an improved economy.
He added, “This 5% fuel tax should wait until Nigerians begin to see tangible improvements in their lives from all the many promises from Mr. President. Leadership is not about giving a burden, it is about reducing suffering, it is about care and compassion.”
The five per cent surcharge on refined petroleum products contained in the Nigeria Tax Administration Act had stirred reactions from Nigerians.
It was one of four tax reform bills Mr Tinubu signed into law on June 26, 2025, and becomes effective January 2026.
