- Ex-VP: don’t give up on Nigeria
Former Vice President Atiku Abubakar has picked holes in Federal Government’s decision to raise the Value Added Tax (VAT) from 7.5 per cent to 10 per cent.
He warned that the move, considering the recent fuel price hike, could plunge Nigeria deeper into economic hardship.
In a statement yesterday in Abuja, Atiku described the VAT increase and the accompanying rise in Premium Motor Spirit (PMS) prices as “regressive and punitive policies”.
The former Vice President noted that the development would worsen the cost of living crisis among Nigerians who he said were reeling from rising inflation and unemployment.
“This increase in VAT is set to become the blazing inferno that will consume the very essence of our people,” he said.
The former Vice President criticised the government for putting more burdens on the poor while “ignoring their extravagant excesses,” including lavish spending on presidential villas, jets, and vehicles.
Atiku stressed that the new tax policies, alongside rising interest rates, have crippled businesses across the country, with the manufacturing sector suffering a significant downturn.Related News
He also lambasted Tinubu’s agricultural policies, particularly the recent decision to allow duty-free imports of key commodities, such as wheat, maize, and paddy, into the country.
Atiku warned that such policies threatened Nigeria’s food security by undercut local farmers who cannot compete with cheap imports from Asia, Europe, and America.
Also, Atikue has urged Nigerians in the diaspora to remain strong and optimistic for a better future for Nigeria.
The former Vice President spoke at a virtual interactive session with some Nigerians in the diaspora on Saturday, according to a statement yesterday in Lagos by the Senior Special Assistant on Communications & Intelligence and Diaspora, Office of Atiku Abubakar, Prof. Gold Emmanuel.
He advised Nigerian citizens not to give up on their country, regardless of the current socio-economic challenges.
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