By MBACHU GODWIN, Abuja
National Opposition Movement has warned President Bola Ahmed Tinubu to drop the proposed taxation reform law , saying that the policy is mindless and does not serve the interest of Nigerians.
The Movement at a press Conference yesterday in Abuja read by its spokesperson, Hon. Chile Igbawua said it will do everything within it’s powers to resist the proposed law ,warning the government of the consequences of they force the tax law on Nigerians.
The opposition group which claimed that the National Economic Council rejected the policy disclosed that there were two versions of the bill passed , adding that what was presented to the President for assent was not the true version that was passed by the National Assembly.
Hon Igbawua said “The situation in Nigeria today is terrible. Many Nigerians can barely afford food, transport, security, or pay their electricity bills and rents. It is sad that it a time as this that the Tinubu administration is preparing to roll out the most punitive and exploitative tax regime in the history of Nigeria.
“Even the colonial authority in its viciousness did not contemplate poor Nigerians the way Tinubu plans at the beginning of the year. The viciousness of this administration shows that Nigeria would be hit with these exploitative and inhuman tax regimes in January when they do not have the fiscal space for such sacrifices.
“This exploitative tax regime points to the thoughtlessness of the Tinubu administration and its unyielding commitment to cater to the financial interests of the oligarchs to the detriment of the ordinary Nigerians who he continues to punish with all manners of taxes and raising prices. Let us be clear, what President Tinubu is rolling out in January is not a tax reform; it is an assault on the livelihood of ordinary Nigerians who has not hidden his contempt and whose prosperity is not part of the agenda of his government.
“According to the new tax law, all adults of taxable age, whether employed or not, must file a tax return between January 1 and March 31, 2026 after which sanction for non-filling will begin to apply. For owners of companies, you must file for all your employees even if they are paid below the taxable bracket. Remember, you cannot make the filling if you do not have Tax Identification Number.
“This is so mindless. In a country where over 70 million are unemployed, where people do not have good access to internet services and where the level of service delivery from state institutions are poor or almost non-existent, President Tinubu has set up an exploitative racket against innocent Nigerians.
“This reads like a strategy from the infamous Lagos governance. Small and medium businesses are struggling to survive under a bad policy environment. Yet, Tinubu continues to pile pressure on them and does not provide any serious business support
“By the new tax plan, NigerianS earning less than minimum wage will be heavily taxed. The government has removed all subsidies and exposed low wage earners and the unemployed to rate shock. Still, the government intends to overtax them, creating damaging human development and truncating any prospect of serious and sustained economic growth”.
