{"id":321964,"date":"2024-05-08T14:31:33","date_gmt":"2024-05-08T13:31:33","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=321964"},"modified":"2024-05-08T14:31:33","modified_gmt":"2024-05-08T13:31:33","slug":"cybersecurity-levy-tinubu-govt-only-interested-in-impoverishing-nigerians-milking-dying-economy-peter-obi","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/05\/08\/cybersecurity-levy-tinubu-govt-only-interested-in-impoverishing-nigerians-milking-dying-economy-peter-obi\/","title":{"rendered":"Cybersecurity levy: Tinubu govt only interested in impoverishing Nigerians, milking dying economy \u2013 Peter Obi"},"content":{"rendered":"<ul>\n<li><strong>Obi said the Tinubu\u2019s government priority is not to revive and grow the ailing economy but to milk it.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Former presidential candidate of the Labour Party, LP, Mr <a href=\"https:\/\/www.withinnigeria.com\/news\/2024\/05\/04\/why-inecs-server-suffered-glitch-during-last-presidential-election-peter-obi\/\">Peter Obi<\/a>, says the newly-introduced cybersecurity levy by the Tinubu government will further tank the ailing Nigerian economy and put more burden on struggling citizens.<\/p>\n<p>Obi said the Tinubu\u2019s government priority is not to revive and grow the ailing economy but to milk it.<\/p>\n<p>Obi stated that it&#8217;s a misnomer to expect largely impoverished and suffering citizens to bear the cost of all government activities.<\/p>\n<p>He accused the government of coming up with policies that will drive away investors and make the country\u2019s economic environment less competitive.<\/p>\n<p>According to him, the imposition of a Cybersecurity Levy on Nigerians will further erode whatever is left of their remaining capital after the impact of the Naira devaluation and high inflation rate.<\/p>\n<p>He noted that the levy ran counter to the promise made by the Tinubu\u2019s government to reduce the number of taxes Nigerians pay.<\/p>\n<p>In a post on his X handle on Wednesday, Obi questioned when the office of the National Security Adviser, NSA, has become a revenue collecting centre.<\/p>\n<p>He said: \u201cThe 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.<\/p>\n<p>\u201cThis does not only amount to multiple taxation on banking transactions, which are already subject to various other taxes including stamp duties but negates the Government\u2019s avowed commitment to reduce the number of taxes and streamline the tax system.<\/p>\n<p>\u201cThe imposition of a Cybersecurity 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 remaining capital, after the impact of the Naira devaluation and high inflation rate.<\/p>\n<p>\u201cIt 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\u2019s economic environment less competitive.<\/p>\n<p>\u201cAt a time when the government 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 collecting centre?<\/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<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Obi said the Tinubu\u2019s government priority is not to revive and grow the ailing economy but to milk it. Former presidential candidate of the Labour Party, LP, Mr Peter Obi, says the newly-introduced cybersecurity levy by the Tinubu government will further tank the ailing Nigerian economy and put more burden on struggling citizens. Obi said [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":269593,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[78917,704,1345,28],"class_list":["post-321964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-cybersecurity-levy","tag-economy","tag-peter-obi","tag-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cybersecurity levy: Tinubu govt only interested in impoverishing Nigerians, milking dying economy \u2013 Peter Obi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2024\/05\/08\/cybersecurity-levy-tinubu-govt-only-interested-in-impoverishing-nigerians-milking-dying-economy-peter-obi\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cybersecurity levy: Tinubu govt only interested in impoverishing Nigerians, milking dying economy \u2013 Peter Obi\" \/>\n<meta property=\"og:description\" content=\"Obi said the Tinubu\u2019s government priority is not to revive and grow the ailing economy but to milk it. Former presidential candidate of the Labour Party,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2024\/05\/08\/cybersecurity-levy-tinubu-govt-only-interested-in-impoverishing-nigerians-milking-dying-economy-peter-obi\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-08T13:31:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2023\/05\/abdullah\/2023\/05\/20\/Bola-Tinubu-and-Peter-Obi-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"510\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Afolabi Hakim\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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