Former Anambra State Governor and 2023 presidential candidate, Mr. Peter Obi, has expressed strong reservations over the Federal Government’s planned introduction of a 5% tax on refined fossil fuel sales, including petrol and diesel, beginning January 2026.
The policy, announced by the Tinubu-led administration, has stirred heated debate across the country, coming at a time when Nigerians are grappling with rising living costs and economic uncertainty.
In a post on his official X handle on Wednesday, Obi questioned the necessity and timing of the tax, especially after President Bola Tinubu declared that the government had already surpassed its 2025 revenue target of N18.32 trillion.
According to him, rather than impose additional financial pressure on citizens, government revenue should be channeled into alleviating poverty, improving education, and strengthening healthcare delivery.
Obi further drew attention to the recent spike in Compressed Natural Gas (CNG) prices—from ₦230 to ₦450 per standard cubic meter—arguing that the much-publicized subsidies on alternative energy sources had quietly vanished.
Economic analysts and citizens remain divided on the policy. While some believe the tax could help bolster Nigeria’s non-oil revenue, estimated at N10.39 trillion in the 2025 budget, others warn that it risks worsening the plight of over 40% of Nigerians who already live below the poverty line, according to World Bank figures.
The Federal Government has yet to issue an official statement addressing the concerns, but the proposed tax continues to dominate public discourse nationwide.
You can get every of our news as soon as they drop on WhatsApp ...To get all news updates, Join our WhatsApp Group (Click Here)
