Monday, April 19, 2021
Home Economy YOUR ADMINISTRATION BRINGS UNTOLD HARDSHIP TO NIGERIANS WITH UNFRIENDLY BUSINESS TAXES, UCHE...

YOUR ADMINISTRATION BRINGS UNTOLD HARDSHIP TO NIGERIANS WITH UNFRIENDLY BUSINESS TAXES, UCHE SECONDUS ACCUSES BUHARI, APC.

The National Chairman of the Peoples Democratic Party, Uche Secondus has decried the growing tax burden being imposed on Nigerians by the President, Major General Muhammadu Buhari (retd.), and the All Progressive Congress regime.

In a statement captioned “Buhari, APC, killing Nigerians with Taxes, Secondus screams..says investors are running away,” which was signed by his Special Adviser on Media, Ike Abonyi, in Abuja, on Saturday, Secondus said, the president and his party cared less about the plight of Nigerians.

The PDP chairman lamented that while other World leaders were raising Stimulus in the form of palliatives to cushion the biting effects of COVID-19 on their citizens, General Buhari was busy heaping more burden on the populace with his endless taxes and tariffs.

Secondus was quoted as saying , “This 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.”

He listed some of the taxes this regime foisted on the Nigerian people that has increased their hardship to include, fuel hike, Electricity tariff, bank charges, and increased Value Added Tax, VAT among others.

He further said, “In September 2019, this government hiked VAT to rate payable in Nigeria from 5 to 7.5%; after January 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.

“After February 2016, 45 per cent increase in electricity tariffs with a claim that it will result in a better power supply services, the regime has just announced another upward review of Electricity tariffs from July 1st, 2020 with power supply getting worse than ever.”

The main opposition leader said nothing underscores the insensitivity of this regime to the welfare of its citizens than that they keep loading the people with more and more burden.

He said that from all corners of this land, Nigerians are groaning, amid glaring insecurity, businesses are folding up and relocating as they are weighed down under the hardship arising from incessant taxation, levies and hike in prices of essential items.

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