“Milking a Dying Economy”: Peter Obi Blasts Tinubu’s Govt Over 0.5% Cybersecurity Levy

• The presidential candidate of the Labour Party (LP) Peter Obi has lambasted the administration of President Bola Ahmed Tinubu over the introduction of a 0.5% cybersecurity levy
• Obi described the 0.5% cybersecurity levy as "milking a dying economy instead of nurturing it to recovery and growth”
• He said it would impoverish Nigerians and make the country’s economic environment less competitive

Legit.ng journalist Adekunle Dada has over 5 years of experience covering metro and government policy

FCT, Abuja - The presidential candidate of the Labour Party (LP) Peter Obi, said the newly introduced 0.5% cybersecurity levy shows that the administration of President Bola Ahmed Tinubu is more interested in milking a dying economy.

Obi said the cybersecurity levy does not only amount to multiple taxations on banking transactions but negates Tinubu’s administration’s promise to reduce the number of taxes and streamline the tax system.

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Tinubu's govt interested in milking dying economy

“The introduction of yet another tax, in the form of Cybersecurity Levy, on Nigerians who are already suffering severe economic distress is further proof that the government is more interested in milking a dying economy instead of nurturing it to recovery and growth.”

The former Anambra state governor stated this via his X handle (formerly known as Twitter) @PeterObi, on Wednesday, May 8.

According to Obi, the cybersecurity levy will impoverish Nigerians and make the country’s economic environment less competitive

“It is 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’s economic environment less competitive."

He said the tax was introduced at a time when the government should be reducing taxes to curb inflation”

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Cybersecurity Levy: Why Nigerians should adjust to Tinubu’s policies, Bwala explains

Obi wondered when the office of the National Security Adviser (NSA) became a revenue collecting centre.

Reno Omokri explains the benefits of a 0.5% cybersecurity levy

Meanwhile, Legit.ng reported that a former presidential aide, Reno Omokri, has explained the benefits of a 0.5% cybersecurity levy on all bank transactions.

The 50-year-old Omokri said the newly implemented cybersecurity levy is for the good of Nigeria.

Omokri said the naira cannot be stable if the nation’s cybersecurity is vulnerable and Nigerians' purchasing power will reduce drastically

Source: Legit.ng