By Samaila Emmanuel
Former Vice President Atiku Abubakar has strongly criticized President Bola Tinubu’s decision to raise the Value Added Tax (VAT) rate from 7.5% to 10%, calling it a “blazing inferno” that will worsen the country’s economic crisis.
Atiku argued that the VAT increase, combined with the recent fuel price hike announced by the Nigerian National Petroleum Company Limited (NNPCL), will deepen the cost-of-living crisis and exacerbate Nigeria’s fragile economic growth.
He accused President Tinubu and his advisers of being insensitive to the plight of the poor, while indulging in extravagant spending on villa renovations, new jets, and vehicles
He accused President Tinubu and his advisers of being insensitive to the plight of the poor, while indulging in extravagant spending on villa renovations, new jets, and vehicles.
Atiku highlighted the negative impact of Tinubu’s policies on businesses, particularly in the manufacturing sector, which has seen a 20% decline in contribution to GDP since December 2023. He also criticized the recent policy allowing duty-free importation of agricultural commodities, warning that it threatens Nigeria’s food security and will harm local farmers.
Atiku urged President Tinubu to rethink his economic policies and focus on sustainable solutions to address the systemic shocks affecting the economy
Atiku urged President Tinubu to rethink his economic policies and focus on sustainable solutions to address the systemic shocks affecting the economy, rather than compounding the crisis with measures that will ignite further turmoil.
It’s Unfair.
God deliver Nigeria. Thank you Tgnews for your breaking news. Your improvement is obvious. Well articulated reports coming from you.