APC Government's Lack of Conscience: Burdening Nigerians with Additional Taxes
The recent decision by President Bola Tinubu's administration to impose additional taxes on Nigerians amid an already dire economic climate reveals a government out of touch with the suffering of its citizens. This move, endorsed by the Federal Executive Council as part of the Economic Stabilization Bills, introduces the "Tax Identification Consolidation and Collaboration (TICC)" initiative, aiming to expand the tax base and generate more revenue. However, instead of offering relief to struggling Nigerians, it threatens to worsen their financial burdens.
A Nation Already in Crisis
Nigerians are currently grappling with rising inflation, unemployment, and widespread poverty. In such a fragile environment, the decision to increase the tax burden on citizens and businesses demonstrates a lack of empathy. Households, particularly those in the informal sector, are barely managing to stay afloat, and this additional tax policy could push them further into despair. While expanding the tax base in theory might seem like a sensible strategy, in practice, it will likely have harmful repercussions on those least able to bear it.
The Timing Couldn't Be Worse
The timing of this policy is especially alarming. Implementing higher taxes during an economic downturn risks stifling consumer spending, a critical driver of economic recovery. Small and medium-sized enterprises (SMEs) are the backbone of the Nigerian economy, and with reduced disposable income among households, these businesses could see a sharp decline in demand for their goods and services. This in turn will further inhibit job creation and overall economic growth, aggravating the already tense social climate.
An Inefficient Tax System
Nigeria's tax system is fraught with inefficiencies, corruption, and mismanagement. Many Nigerians already feel that they get little in return for the taxes they pay. Adding more layers of taxation without addressing these deep-rooted structural problems will only deepen the public's frustration. Taxpayers who comply with the rules are disproportionately burdened, while many others in the informal economy continue to evade their obligations. The lack of transparency and accountability in how public funds are spent further undermines the legitimacy of this policy.
False Promises of Economic Growth
The TICC initiative claims to ensure that all businesses contribute their fair share, but without corresponding efforts to improve public infrastructure, healthcare, and education, Nigerians will remain skeptical. The government has repeatedly failed to deliver on its promises of better public services, and the mismanagement of tax revenues has eroded public trust. As a result, many are questioning whether they will see any tangible improvements in their daily lives from paying higher taxes.
National Assembly and Masses Must Act
This administration's punitive tax policies must be stopped before they inflict more damage on the already suffering populace. The National Assembly must intervene and halt these destructive measures, which show a government more interested in squeezing the last drop from its citizens than in offering relief. Equally, the Nigerian masses must stand up against this unconscionable assault on their livelihoods. It is the duty of the people to push back against policies that only serve to worsen their plight.
Conclusion: A Government Lacking Compassion
While the Tinubu administration’s efforts to stabilize the economy are understandable, taxing already vulnerable Nigerians during an economic downturn is callous and counterproductive. Instead of alleviating the financial burden on citizens, the government's policies are deepening their hardship. The National Assembly and the masses must come together to demand a halt to these cruel measures and push for meaningful reforms that address the inefficiencies in tax collection and public spending. Only then can Nigeria begin to chart a path toward real economic recovery and growth
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