Obi described the levy as “multiple taxation” and argued that govt should be reducing taxes instead adding more burden on Nigerians
By Kehinde Okeowo
Labour Party (LP) 2023 presidential candidate, Peter Obi, has slammed President Bola Tinubu’s government for imposing ”Cybersecurity Levy’ on Nigerians despite prevailing economic hardship.
He made this known on Wednesday via a post he shared on his X handle, where he wondered when the office of the National Security Adviser (NSA) became a revenue centre.
The former Anambra State governor went on to accuse the government of milking a dying economy instead of nurturing it to recovery and growth.
Obi described the introduction of the levy as “multiple taxation” and argued that the government should be reducing taxes instead adding more burden on Nigerians.
He said it was unthinkable to expect the suffering citizens to separately fund all activities of the government.
He also claimed that the Tinubu-led administration implements policies that not only impoverish the citizens but also make the country’s economic environment less competitive.
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He added that putting the burden of Cybersecurity Levy on Nigerians will further erode whatever is left of their remaining capital after the impact of the Naira devaluation and high inflation rate.
Speaking via his verified social media page, Obi tweeted: “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.
“This does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes including stamp duties but negates the Government’s avowed commitment to reduce the number of taxes and streamline the tax system.
“The imposition of a Cybersecurity Levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remaining capital, after the impact of the Naira devaluation and high inflation rate.
“It is inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government. Policies such as this not only impoverish the citizens but make the country’s economic environment less competitive.
“At a time when the government should be reducing taxes to curb inflation, the government is instead introducing new taxes. And when did the office of the NSA become a revenue collecting centre?
“And why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?”
