Nigeria Atiku Abubakar Opposes VAT Hike, Labels Tinubu’s Policy as Regressive

Atiku Abubakar, former Nigerian vice-president, condemned the government's proposed VAT increase from 7.5% to 10%, calling it a "regressive and punitive" move. He criticized President Tinubu's administration for its insensitivity to economic struggles, urging the government to focus on sustainable solutions rather than exacerbating Nigeria's cost-of-living crisis.

Atiku Abubakar, Nigeria's former vice president, has expressed strong opposition to the government's proposed increase in the value-added tax (VAT) from 7.5% to 10%. He described the move as a "regressive and punitive policy" that would worsen the country's economic struggles. In a social media post, Atiku criticized President Bola Tinubu's administration, accusing it of ignoring the needs of the poor while indulging in excessive spending on luxury projects. Atiku emphasized that the increase in VAT, along with rising fuel prices, would further burden struggling Nigerians and exacerbate the cost-of-living crisis.

He also pointed out the adverse effects of Tinubu’s policies on Nigeria's manufacturing sector, stating that the industry has experienced significant declines since December 2023. Atiku highlighted the government's recent decision to allow duty-free importation of agricultural goods, which he believes threatens Nigeria's food security and undermines local farmers.

Atiku urged the government to focus on sustainable solutions to address the country's economic challenges, rather than implementing measures that would deepen the crisis. His statement reflects growing concerns over the impact of current policies on the nation's economic stability and the well-being of its citizens.