Peter Obi Criticizes Tinubu Government’s Introduction of Cybersecurity Levy

By Milcah Tanimu

Former Governor Peter Obi has criticized the Tinubu government’s decision to introduce a cybersecurity levy, labeling it as another burden on Nigerians already grappling with economic challenges. He argues that imposing such a tax on banking transactions, which are already subject to various other levies, is evidence of the government’s focus on extracting revenue from a struggling economy rather than fostering its recovery and growth.

Obi contends that the cybersecurity levy further burdens businesses by taxing their trading capital, diminishing their ability to invest and thrive in the face of currency devaluation and high inflation rates. He emphasizes that such policies not only impoverish citizens but also weaken the country’s economic competitiveness.

Furthermore, Obi questions the rationale behind the involvement of the National Security Adviser’s office in revenue collection, particularly regarding a specific tax like the cybersecurity levy. He highlights the need for the government to reduce taxes to combat inflation, rather than introducing new levies.

Obi’s critique reflects broader concerns about the impact of additional taxes on Nigeria’s economy and calls for a more strategic approach to taxation and economic management.