African Democratic Congress, ADC has opposed President Bola Tinubu’s approval of 15% import duty on petrol and diesel, saying it will further impose more economic hardship on Nigerians.
In a statement signed by ADC National Publicity Secretary, Bolaji Abdullahi, the party says while it supports private investments in the energy sector, policies meant to protect such investments must also protect the people and put their interests first.
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ADC also questioned the rationale behind imposing the levy under the guise of protecting domestic production, when the Port-Harcourt Refinery as a key component of government’s local refining strategy, collapsed just five months after a $1.5 billion rehabilitation, resulting in N366.2 billion loss.
The opposition further explained that the Tinubu-led administration’s approach to economic reform appears to be insensitive to the suffering of the people. It warned that the APC government’s economic policies condemn Nigerians to a life of hardship and misery.
(Editor: Terverr Tyav)
