Atiku Abubakar, the former presidential candidate for the African Democratic Congress, argued on Monday that the government under President Bola Tinubu will not achieve prosperity through increased taxation. This rebuttal followed remarks from the Presidency asserting that current tax reforms are inherently progressive.
Speaking through his aide Phrank Shaibu, Atiku stated that tax policies are doomed to fail when implemented within an economy where commercial enterprises are currently fighting for survival. He emphasized that the government is attempting to generate revenue while simultaneously diminishing the nation’s productive capacity.
Atiku pointed to the immense challenges facing the private sector, such as record-breaking energy expenses, mounting logistics costs, and the burden of multiple levies on small businesses. He noted that households are also grappling with inflated prices for basic necessities. According to Atiku, a reform package that inflates government coffers while impoverishing the citizenry cannot be categorized as progressive. He maintained that a sustainable tax framework must focus on fostering economic growth and job creation rather than extracting capital from an already burdened economy.
