Former Labour Party (LP) presidential candidate Mr. Peter Obi has criticized President Bola Tinubu’s administration for imposing the cybersecurity tax on Nigerian citizens.
The government, he claimed, was more concerned with milking a collapsing economy than fostering its revival and expansion.
Obi accused the administration of implementing policies that reduce the competitiveness of the nation’s economy in addition to impoverishing the populace.
He claims that following the effects of the Naira devaluation and high inflation rate, the implementation of a cybersecurity levy on Nigerians will further destroy what little capital they still have.
On Wednesday, Obi asked when the National Security Adviser’s (NSA) office turned into a place to collect money in a post on his X handle.
According to the former governor of Anambra State, it is inconceivable to expect Nigeria’s suffering populace to pay for each and every government initiative on their own.
He said: “The introduction of yet another tax, in the form of Cybersecurity 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.
“This does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes including stamp duties but negates the Government’s avowed commitment to reduce the number of taxes and streamline the tax system.
“The imposition of a Cybersecurity Levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remaining capital, after the impact of the Naira devaluation and high inflation rate.
“It is inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government. Policies such as this not only impoverish the citizens but make the country’s economic environment less competitive.
“At a time when the government should be reducing taxes to curb inflation, the government is instead introducing new taxes. And when did the office of the NSA become a revenue collecting centre?
“And why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?”
