The Yoruba Union, known formally as Ìgbìnmó Májékóbájé Ilé-Yorùbá, has issued a scathing statement denouncing the Federal Government’s recent approval of a 15% ad valorem import duty on petrol and diesel. The group claims the policy is “insensitive and exploitative,” and accuses President Bola Tinubu of attempting to monopolize the Nigerian economy for a select group of allies.
Speaking through its Home Director, Princess Balogun, the Union’s Convener Olusola Badero stated: “This administration’s economic policies are so harsh and anti-people that Nigerians may soon have to pay taxes simply for breathing.” The group argues that the fuel import tax, which has pushed petrol prices to ₦1,000 per litre in many regions, will deepen poverty, worsen unemployment, and further destabilize the country’s fragile economy.
The Union also criticized the timing of the policy, noting that Nigerians are already grappling with inflation, currency devaluation, and rising food costs. “This is not governance; it is economic strangulation,” Badero added.
In defense of the policy, the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have stated that the tariff is part of a “market-responsive import framework” aimed at protecting domestic refineries and encouraging local production.
However, critics argue that the move disproportionately affects ordinary Nigerians while shielding elite interests. A chieftain of the All Progressives Congress (APC), Chief Ayiri Emami, also warned that the policy would hurt the masses more than marketers, urging the president to reconsider.