Nigeria not an overtaxed country, says Nwosu

A chieftain of the All Progressives Congress (APC), Ugwumba Uche Nwosu, has faulted the notions held in certain quarters that Nigeria is fast becoming an overtaxed country.

Speaking to journalists in Abuja, Nwosu remarked that unknown to many, Nigeria is among the least taxed nations in the world.

Reminiscing his experience in the United States of America (USA) that United Kingdom (UK) Egypt and neighbouring Ghana, he said Nigerians should count themselves lucky that they are paying far less for services being rendered to them.

Nwosu who aspired for the governorship of Imo state in the 2015 poll was reacting to the controversy that trailed ongoing moves to introduce the cyber security fund levy.

He said notwithstanding the fact that the idea behind the introduction of the tax is intended to free the country from embarking on another round of borrowing spree.

Nwosu urged President Bola Ahmed Tinubu to exempt the poor and vulnerable from the burden of paying such taxes in the polity.

“I am aware that what President Tinubu is doing is to stop borrowing money so that the country can be self reliant. But the government shouldn’t overtax the vulnerable in the society who are still faced with the pains of high cost of living,” Nwosu said.

“What does the poor woman who sells Akara or frozen fish or the one who sells pure water have to do with cybercrimes fund with their N50,000 capital?

“The national Assembly should review the law by focusing on multinationals and other big businesses in the country. Our economy is still in the group of 3rd world economy with the poor in the majority.”

The Imo born politician also called on the authorities to explore avenues aimed at reducing the high cost of diesel and electricity tariffs in the country as a means of reducing high cost of food items and services in the country.