Former Vice President Atiku Abubakar has strongly criticized the recent increase in Value Added Tax (VAT) from 7.5% to 10% under the administration of President Bola Tinubu.
Atiku warned that this move, alongside rising fuel prices, will deepen Nigeria’s cost-of-living crisis and worsen economic conditions for the average citizen.
In a statement shared on his X handle on Sunday, Atiku expressed concern that the VAT hike would further burden already struggling Nigerians while the government indulges in luxurious expenditures. He argued that the increase in taxes and interest rates has led to business hardships, job losses, and exacerbated poverty.
Atiku also condemned Tinubu’s policies on agriculture, warning that the duty-free importation of agricultural commodities could harm local farmers and undermine Nigeria’s food security and economic sustainability.
He concluded by urging the government to shift its focus toward sustainable solutions to address the economic crisis instead of introducing measures that could aggravate the situation.
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