Atiku Calls for Caution Regarding Hardship Under Tinubu’s Administration

Former Vice President Atiku Abubakar has issued a caution to President Bola Tinubu, advising against any efforts to exacerbate the plight of the poor by implementing new taxes or raising tax rates.

Atiku highlighted public awareness regarding clandestine moves to elevate the VAT rate from 7.5% to 10%, reintroduce excise taxes on telecommunications, and raise excise rates on various goods.

As the former presidential candidate of the Peoples Democratic Party (PDP), Atiku emphasized, “It needs to be restated that we cannot tax our way out of this situation.”

In a statement obtained by DAILY POST on Wednesday, Atiku asserted that Tinubu was ill-prepared for the repercussions of the reforms.

“Tinubu must be cautioned against any attempt to further impoverish the poor by introducing new taxes or raising tax rates. We are aware of behind-the-scenes efforts to increase the VAT rate from 7.5% to 10%, reintroduce excise taxes on telecommunications, and raise excise rates on various goods.

“Tinubu must recognize the necessity for expenditure rationalization and restraint. This entails aligning the budget more closely with Nigeria’s fiscal reality, enhancing efficiency in revenue utilization, improving procurement processes, and reducing the size of government, thereby reducing the cost of governance,” he stated.