Fuel Tax Reports Fake News, Says Oyedele
President Bola Tinubu’s administration has no immediate plan to introduce a fuel tax, the Minister of State for Finance, Taiwo Oyedele, has clarified, dismissing reports suggesting that the Federal Government intends to impose the levy when economic conditions improve.
Oyedele described the reports as false, accusing some online platforms of distorting his remarks on fuel taxation.
“Some online reports have since twisted this message into a claim that the government plans to introduce fuel taxes. That is FAKE NEWS,” he said.
The minister urged Nigerians to disregard the misleading reports and watch his original remarks for proper context.
Oyedele spoke during an interview on the sidelines of the 2026 annual meetings of the International Monetary Fund and the World Bank in Bangkok, Thailand.
He explained that introducing a fuel tax while petrol was still being subsidised would have been counterproductive, as the government would effectively be paying the tax itself.
He also stressed that Nigeria’s economic priority should be to ensure that incomes grow faster than prices, rather than concentrating solely on suppressing prices.
According to the minister, imposing an additional fuel tax under the prevailing economic conditions would further burden Nigerians still struggling with the effects of petrol subsidy removal.
His clarification followed reports suggesting that the government might consider introducing the tax once economic conditions improved and citizens’ incomes could accommodate the additional cost.
