Atiku Abubakar, the 2023 presidential candidate of the Peoples Democratic Party (PDP), has issued a stern warning regarding President Bola Tinubu’s proposed Value Added Tax (VAT) increase. Atiku cautioned that this move could have devastating effects on Nigeria’s citizens.
The former vice president expressed concern that the government is opting to impose further financial burdens on an already struggling population. He criticized Tinubu’s administration for focusing on raising taxes instead of seeking solutions to improve the livelihoods of Nigerians.
In his Sunday statement, titled “The increase in VAT is set to become the blazing inferno that will consume the very essence of our people,” Atiku argued that raising the VAT rate from 7.5% to 10% would worsen the cost-of-living crisis and harm Nigeria’s fragile economy. He also pointed out the detrimental effects on businesses and job losses, especially within the manufacturing sector.
Atiku further criticized Tinubu’s decision to remove import duties on key agricultural products like rice and maize, claiming it threatens local farmers and jeopardizes food security. He urged the government to focus on long-term sustainable solutions instead of policies that could escalate the country’s economic woes.
