As the Bola Ahmed Tinubu administration continues to roll out its economic policies, growing concerns have emerged over proposed tax reforms that critics fear could further burden an already struggling populace. Naija247news gathered that the federal government is considering a series of new tax measures aimed at boosting revenue, but many Nigerians are warning that these policies could exacerbate the economic hardships faced by citizens.
Thank you for reading this post, don't forget to subscribe!According to Naija247news, the proposed reforms include increased Value Added Tax (VAT), higher excise duties on essential goods, and the introduction of new levies on digital services. While the government argues that these measures are necessary to address the country’s revenue shortfalls and fund critical infrastructure projects, opposition figures and economic analysts have raised alarms about the potential impact on ordinary Nigerians. Naija247news understands that inflation, already at a record high, could worsen if these taxes are implemented.
“Before Tinubu taxes Nigerians to death, the government must consider the plight of the average citizen,” said a prominent economist who spoke to Naija247news on condition of anonymity. The source added that while taxation is a vital tool for economic development, the timing and scope of these reforms could lead to widespread discontent. Naija247news reports that small business owners and low-income earners are particularly worried, as many are already struggling to make ends meet amid rising fuel prices and a depreciating naira.
Public reaction to the proposed reforms has been largely critical. Naija247news gathered that social media platforms have been flooded with hashtags such as #TaxedToDeath and #TinubuTaxes, with many Nigerians calling on the government to reconsider its approach. “We are being taxed on everything—fuel, food, airtime, and even data. How much more can we take?” one Twitter user lamented.
According to Naija247news, the Tinubu administration has defended the proposed reforms, stating that they are part of a broader strategy to reduce the country’s reliance on borrowing and create a more sustainable economic framework. However, critics argue that the government must first address issues of corruption and wasteful spending before imposing additional taxes on citizens.
Naija247news reports that the debate over the proposed tax reforms is expected to intensify in the coming weeks, with civil society groups and labor unions threatening to mobilize against the policies if they are implemented without adequate consideration for their impact on the masses. As the nation watches closely, the question remains: will the Tinubu administration strike a balance between economic recovery and the welfare of its citizens? Only time will tell.
