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Nigeria is facing widespread economic hardship due to soaring prices and deep uncertainty. President Bola Tinubu’s removal of the petrol subsidy and the devaluation of the naira have led to relentless inflation, causing food and transportation costs to skyrocket.
A new 5.0% surcharge on petrol and diesel, set to take effect on January 1, 2026, is seen as untimely and unjust. Critics argue that this tax will further strain household budgets, which are already struggling with the high costs of essential goods and services. Fuel marketers and human rights advocates have warned that the surcharge will lead to higher transport and commodity costs, worsening daily hardships for millions.
The government’s argument that the surcharge will boost non-oil revenue and promote fiscal sustainability is being questioned. Many believe it is cruel to impose another tax on citizens already grappling with multiple economic shocks, especially when the government claims to have saved significant funds from the fuel subsidy removal. Instead, critics recommend that the government focus on accountability, plugging systemic leaks, and boosting oil production to generate revenue, rather than further burdening the populace.
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