{"id":111909,"date":"2024-05-09T03:47:22","date_gmt":"2024-05-09T07:47:22","guid":{"rendered":"https:\/\/africatodaynewsnewyork.com\/?p=111909"},"modified":"2024-05-09T03:47:22","modified_gmt":"2024-05-09T07:47:22","slug":"cybersecurity-levy-tinubu-out-to-milk-a-dying-economy-obi","status":"publish","type":"post","link":"https:\/\/africatodaynewsnewyork.com\/2024\/05\/09\/cybersecurity-levy-tinubu-out-to-milk-a-dying-economy-obi\/","title":{"rendered":"Cybersecurity Levy: Tinubu Out To Milk A Dying Economy \u2014 Obi"},"content":{"rendered":"<p><strong>The presidential candidate of the Labor Party (LP) in the 2023 general election, Peter Obi has berated the President Bola Tinubu led-govern\u00adment for imposing a cybersecurity levy on Nigerians despite prevail\u00ading economic <a href=\"https:\/\/africadailynews.net\/2023\/07\/03\/tinubu-apc-and-the-politics-of-hardship-against-nigerians.html\">hardship<\/a>.<\/strong><\/p>\n<p>He said the Federal Govern\u00adment is more interested in milk\u00ading a dying economy instead of nurturing it to recovery and growth.<\/p>\n<p>The former governor of Anambra State disclosed this on Wednesday via a post on his X handle, and wondered when the office of the National Security Adviser (NSA) became a revenue centre.<\/p>\n<p>Obi accused the government of milking a dying economy in\u00adstead of nurturing it to recovery and growth.<\/p>\n<p>He described the introduction of the levy as \u201cmultiple taxation\u201d and argued that the government should be reducing taxes instead of adding more burden on Nige\u00adrians.<\/p>\n<p>The former presidential can\u00addidate said it was unthinkable to expect the suffering citizens to separately fund all activities of the government.<\/p>\n<blockquote><p><em><strong>Read Also: <\/strong><a href=\"https:\/\/africatodaynewsnewyork.com\/2024\/05\/01\/address-hardship-inflation-now-akpabio-urges-fg\/\">\u2018Address Hardship, Inflation Now,\u2019 Akpabio Urges FG<\/a><\/em><\/p><\/blockquote>\n<p>Expressing displeasure at the policy, Obi noted that the Tinubu-led administration im\u00adplements policies that not only impoverish the citizens but also make the country\u2019s economic en\u00advironment less competitive.<\/p>\n<p>He pointed out that putting the burden of cybersecurity levy on Nigerians would further erode whatever is left of their remain\u00ading capital after the impact of the naira devaluation and high inflation rate.<\/p>\n<p>Obi tweeted: \u201c<em>The introduc\u00adtion of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suf\u00adfering severe economic distress is further proof that the govern\u00adment is more interested in milk\u00ading a dying economy instead of nurturing it to recovery and growth.<\/em><\/p>\n<p><em>\u201cThis does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes in\u00adcluding stamp duties but negates the government\u2019s avowed com\u00admitment to reduce the number of taxes and streamline the tax system.\u201d<\/em><\/p>\n<p><em>\u201cThe imposition of a cyberse\u00adcurity levy on bank transactions is particularly sad given that the tax is on the trading capital of businesses and not on their profit hence will further erode whatever is left of their remain\u00ading capital, after the impact of the naira devaluation and high inflation rate.<\/em><\/p>\n<p><em>\u201cIt\u2019s inconceivable to expect the suffering citizens of Nigeria to separately fund all activities of the government. Policies such as this not only impoverish the citizens but make the country\u2019s economic environment less com\u00adpetitive.<\/em><\/p>\n<p><em>\u201cAt a time when the govern\u00adment should be reducing taxes to curb inflation, the government is instead introducing new taxes. And when did the office of the NSA become a revenue collect\u00ading centre?<\/em><\/p>\n<p>\u201cAnd why should that purely national security office receive returns on a specific tax as stated in the new cybersecurity law?\u201d Obi queried.<\/p>\n<p>Africa Today News, New York reports that many Nigerians have continued to protest the new development on social media.<\/p>\n<p><a href=\"https:\/\/africatodaynewsnewyork.com\/\"><strong>Africa Today News, New York<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The presidential candidate of the Labor Party (LP) in the 2023 general election, Peter Obi has berated the President Bola Tinubu led-govern\u00adment for imposing a cybersecurity levy on Nigerians despite prevail\u00ading economic hardship. He said the Federal Govern\u00adment is more interested in milk\u00ading a dying economy instead of nurturing it to recovery and growth. The [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":111910,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[3],"tags":[23195,13381],"class_list":["post-111909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-labor-party","tag-peter-obi","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cybersecurity Levy: Tinubu Out To Milk A Dying Economy \u2014 Obi<\/title>\n<meta name=\"description\" content=\"The presidential candidate of the Labor Party (LP) in the 2023 general election, Peter Obi has berated the President Bola Tinubu led-\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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