Former presidential candidate of the Labour Party, LP, Mr. Peter Obi, criticized President Bola Tinubu’s administration for implementing the cybersecurity levy on Nigerians. He accused the government of exploiting the struggling economy rather than fostering its recovery and growth. Obi condemned the government's tendency to introduce policies that not only impoverish citizens but also undermine the country's economic competitiveness.
Expressing his concerns on Wednesday via his X handle, Obi questioned the role of the National Security Adviser, NSA, in revenue collection. He argued that imposing a cybersecurity levy on Nigerians exacerbates their economic hardships, especially considering the impact of currency devaluation and high inflation rates.
Obi highlighted the contradiction between the government's commitment to streamline the tax system and its introduction of additional taxes, such as the Cybersecurity Levy on bank transactions. He emphasized that this levy directly affects businesses' trading capital and diminishes their resources further.
The former Anambra State governor emphasized the impracticality of expecting citizens to fund all government activities separately. He asserted that policies like the cybersecurity levy not only impoverish citizens but also hinder the country's economic competitiveness.
Obi criticized the government's decision to introduce new taxes instead of reducing them to mitigate inflation. He questioned the involvement of the NSA in revenue collection and raised concerns about the specific returns received by the office under the new cybersecurity law.
