The National Chairman, Peoples Democratic Party (PDP), Prince Uche Secondus, has accused the All Progressives Congress (APC)-led Federal Government of taxing Nigerians to death.
In a statement signed by his media aide, Ike Abonyi, the opposition party boss said the myriad taxes Nigerians were being made to pay were stifling the economy and causing hardship to the citizenry.
Secondus identified some of the taxes as fuel price hike, electricity tariff, bank charges and increased Value Added Tax (VAT), among others.
“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 multiplies 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’s poor under the watch of President Buhari.
“In September 2019 this government hiked VAT 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 percent increase in electricity tariffs with a claim that it will result in 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,” Secondus said.
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