Labour Party's 2023 presidential candidate Peter Obi has condemned President Tinubu’s government for imposing a Cyber-Security Levy on Nigerians, which he sees as unfair due to the country’s economic challenges.
Obi stated that the current administration is focused on exploiting a struggling economy rather than supporting its revival and development.
The former governor of Anambra State also censured the Tinubu-led government for implementing policies that not only harm citizens financially, but also undermine the country’s competitiveness in the economic landscape.
Obi expressed these views in a statement posted on his X handle on Wednesday, questioning when the National Security Adviser started functioning as a revenue collection center.
The statement stated, “The introduction of another tax, such as the Cybersecurity Levy, on Nigerians who are already enduring severe economic hardship, further demonstrates that the government is more interested in exploiting a struggling economy rather than supporting its recovery and growth.
“This not only results in multiple taxes on banking transactions, which are already subjected to various other taxes, including stamp duties, but also contradicts the Government’s stated commitment to reduce the number of taxes and streamline the tax system.
“The imposition of a Cybersecurity Levy on bank transactions is particularly concerning as the tax applies to the trading capital of businesses and not their profit, thereby further diminishing whatever remains of their capital after the impact of the Naira devaluation and high inflation rate.
“At a time when the government should be reducing taxes to control inflation, it is instead introducing new taxes. Since when did the office of the NSA become a revenue-collecting center? Why should this purely national security office receive returns on a specific tax, as outlined in the new cybersecurity law?.”
