Atiku Criticizes Federal Government’S Plan To Increase Vat

A former vice president, Atiku Abubukar, has criticized the federal government’s proposal to increase the Value Added Tax (VAT) from 7.5% to 10%. He describes this move as the latest disaster that will have adverse effects on Nigerians.

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, revealed that his committee has proposed a 2.5% increase in VAT by 2025. In response, Atiku Abubakar expressed concern about the state of the economy and the rising poverty index, which has caused immense hardship for millions of Nigerians.

In a statement released by his Senior Special Assistant on Communications and Intelligence and Diaspora, Prof. Gold Emmanuel, Atiku stated that President Bola Tinubu, with his team of advisers, has decided to raise the VAT rate from 7.5% to 10%, alongside the recent increase in the price of petroleum products.

Atiku argues that these regressive and punitive policies will worsen the cost of living crisis and damage Nigeria’s already fragile economic growth. He criticizes Tinubu’s insensitivity towards the less fortunate, as showcased by his extravagant expenditures while burdening the impoverished.

Atiku highlights the adverse implications of these policies for Nigeria’s future, emphasizing how the relentless rise in taxes and interest rates has impeded businesses, leading to job losses and increased suffering for the poor. He also expresses concern about Tinubu’s agricultural policy, which allows duty-free importation of agricultural commodities, putting local farmers at a disadvantage and threatening food security in the country.

Atiku called on Nigerians not to give up despite the current challenges. He acknowledged the important role played by Nigerians in the Diaspora in shaping the country’s future and encouraged them to continue supporting Nigeria through remittances and investments.

The Human Right Writers Association of Nigeria (HURIWA) also condemned the government’s decision to increase VAT, warning that such measures are suffocating Nigerians and pushing them further into poverty. HURIWA criticized the government’s apparent disconnect from the reality faced by ordinary citizens and called for an immediate reversal of the proposed VAT hike and other suffocating fiscal measures.

The group cautioned that these actions, influenced by international organizations like the IMF and individuals like Bill Gates, could potentially ignite widespread unrest. HURIWA highlighted the impact of fuel price increases and inflation on the housing sector, leading to rising costs and homelessness among many Nigerians. The organization emphasized that the government needs to address these severe challenges and prioritize the well-being of its citizens.