Former presidential candidate Peter Obi has criticized the imposition of the Cybersecurity Levy by the Tinubu-led government, denouncing it as a burden on Nigerians already struggling with economic hardship. Obi highlights the contradiction between this move and the government’s pledge to streamline taxes, highlighting the damaging impact on business and the country’s competitiveness.
Labor Party presidential candidate Peter Obi has vehemently criticized the Tinubu-led government’s decision to introduce a cyber security levy, labeling it detrimental to an already ailing economy.
In a statement on the He highlighted the negative impact of the levy on banking transactions, describing it as a form of multiple taxation, contrary to the government’s promise to streamline the tax system.
Obi highlighted the disproportionate impact of the levy on companies’ trading capital, especially amid the devaluation of the currency and rising inflation rates, warning that it would further deplete their already dwindling resources. He criticized the government’s approach and questioned the logic of raising taxes at a time when lowering them could help ease inflationary pressures.
Furthermore, Obi expressed concern over the role of the Office of the National Security Adviser in revenue collection, questioning why it should receive returns from a specific tax as set out in the new Cyber Security Law. He concluded by asserting that such policies not only impoverish citizens but also undermine the country’s economic competitiveness. Obi’s comments underline the growing dissatisfaction among Nigerians over the government’s fiscal policies and its impact on the people.
