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Peter Obi on the cybersecurity levy: Tinubu government merely wants to profit from a collapsing economy

May 10, 2024 | 2023 Elections | 0 comments

Former presidential candidate of the Labour Party, Mr. Peter Obi, has criticized President Bola Tinubu’s administration for implementing the cybersecurity levy on Nigerians, accusing it of prioritizing exploiting a struggling economy over nurturing its recovery and growth.

Obi argued that the government’s policies not only exacerbate poverty among citizens but also undermine the competitiveness of the country’s economic landscape.

He expressed concern that the imposition of a Cybersecurity Levy would further deplete the capital of Nigerians already suffering from the impact of the Naira devaluation and high inflation rates.

In a post on his social media handle on Wednesday, Obi questioned the role of the Office of the National Security Adviser (NSA) as a revenue collection center, criticizing the notion of burdening Nigerian citizens with additional taxes.

He stated, “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.”

Obi emphasized that such policies contradict the government’s commitment to reducing taxes and streamlining the tax system, further complicating the economic environment.

He concluded by expressing disbelief that the government would introduce new taxes at a time when it should be reducing taxes to mitigate inflation, highlighting the need for transparency regarding the role of the NSA in revenue collection under the new cybersecurity law.

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