Thelma Osatohanmwen
Peter Obi, the Labour Party’s (LP) presidential candidate in the 2023 general elections, has taken a strong stance against the Nigerian government’s decision to impose a “Cyber-Security Levy” on its citizens, citing prevailing economic challenges.
In a statement shared via his social media handle, the former Governor of Anambra State criticized the administration led by President Bola Tinubu, questioning the rationale behind taxing citizens during a period of economic distress.
Expressing dismay at the government’s approach, he wrote, “The introduction of yet another tax, in the form of Cyber-Security Levy, on Nigerians who are already suffering severe economic distress is further proof that the government is more interested in milking a dying economy instead of nurturing it to recovery and growth”.
He emphasized that such policies not only add to the financial burden of the populace but also hinder the country’s economic competitiveness.
Also, Obi denounced the imposition of multiple taxes, highlighting the impact on businesses struggling to navigate the economic landscape.
He further argued that taxing banking transactions, which are already subject to various levies including stamp duties, undermines the government’s commitment to reducing the tax burden and streamlining the tax system.
The former presidential candidate raised concerns about the Cyber-Security Levy’s implications, particularly on businesses’ trading capital. He warned that the tax would erode whatever remains of their capital amidst currency devaluation and soaring inflation rates.
He also questioned the role of the National Security Adviser’s office in revenue collection, querying why a national security entity would receive returns from a specific tax as outlined in the new Cyber-Security law.