…says investors are running away.
The National Chairman of the Peoples Democratic Party, PDP, Prince Uche Secondus has accused President Muhammadu Buhari and his ruling All Progressives Congress, APC, of overburdening Nigerians with taxes and tariffs.
In a statement by his media aide, Ike Abonyi, Secondus alleged that President Buhari cared less about relieving the plight of the country’s suffering poor population.
The PDP National Chairman also lamented that while the rest of other World leaders were raising stimulus in form of palliatives to cushion the biting effects of COVID-19 to their citizens, President Buhari was busy heaping more burden on the populace with his endless taxes and tariffs.
The statement noted that the action is strangulating the nation’s economy, killing small and medium enterprises (SMEs) and causing investors flight to other neighbouring countries where business environment is conducive and friendly.
“I find it laughable and contradictory that a regime that multiples the peoples taxes and hikes prices indiscriminately at this pandemic period is talking of lifting some Nigerians out of poverty with such draconian and insensitive policies that earned the country the ignoble title of capital of the world poor under the watch of President Buhari.”
Prince Secondus listed some of the taxes of this government on the Nigerian people that has increased their hardship to include, fuel hike, Electricity tarrif, bank charges and increased Value Added Tax, VAT among others.
“In September 2019 this government hiked VAT to rate payable in Nigeria from 5 to 7.5%; afterJanuary 2016 introduction of N50 stamp duty by the Central Bank of Nigeria, CBN; again in September 2019 it imposed charges on cash deposits and withdrawals above N500,000 for individuals and N3m for corporate accounts.”
- Ndubuisi Ojo