• About Us
  • Contact Us
  • Privacy & Policy
Thursday, September 18, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Ex-Vice President Atiku Slams Alleged VAT Increase, Predicts Severe Impact on Nigerians

Martins Nwakaji by Martins Nwakaji
September 9, 2024
in Economy
Reading Time: 3 mins read
A A
0
Ex-Vice President Atiku Slams Alleged VAT Increase, Predicts Severe Impact on Nigerians
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram

Former Vice President Atiku Abubakar has strongly criticized the Nigerian federal government’s proposal to increase the Value Added Tax (VAT), arguing that it will have severe consequences for the country’s citizens. Atiku’s remarks came in a statement released on Sunday, in which he warned that the VAT hike would exacerbate the existing cost-of-living crisis and further burden Nigerians.

Atiku expressed deep concern about the government’s plan to raise the VAT rate from 7.5% to 10%. He highlighted that this decision comes at a time when petrol prices are also increasing, compounding the financial strain on Nigerians. According to Atiku, the move reflects a troubling shift towards policies that will only deepen the economic hardships faced by many people in the country.

The former Vice President accused President Bola Tinubu and his advisors of pursuing what he called “regressive and punitive” policies. He suggested that these policies would have a detrimental impact on Nigeria’s fragile economic growth and worsen the living conditions of the poor.

Atiku also criticized President Tinubu for his perceived insensitivity, pointing out that while the government imposes new taxes and economic burdens, the President and his family are indulging in luxury, including expensive renovations and the acquisition of new jets and vehicles.

Atiku further criticized the administration for its approach to taxation and economic management. He noted that the ongoing increases in taxes and interest rates have been particularly harmful to businesses of all sizes, leading to job losses and increasing suffering among the poor.

The manufacturing sector has been notably affected, with its contribution to the nation’s GDP declining by over 20% since December 2023, according to reports from the National Bureau of Statistics (NBS).

In addition to his concerns about VAT, Atiku addressed another recent policy shift by President Tinubu’s administration regarding agriculture. In early August, the government introduced a policy allowing for the duty-free importation of agricultural commodities such as wheat, maize, and rice. Atiku criticized this policy, arguing that it threatens Nigeria’s food security by undermining local farmers who face unfair competition from cheaper imports.

This, he said, could lead to reduced production efforts by local farmers, jeopardizing job creation and the long-term viability of the agricultural sector.

Atiku urged President Tinubu and his advisors to focus on developing sustainable solutions to address the economic challenges facing Nigeria rather than implementing measures that might further destabilize the economy.

He stressed the importance of creating policies that support economic stability and growth, rather than adding to the existing hardships experienced by many Nigerians.

Tags: businessSports
Martins Nwakaji

Martins Nwakaji

Related Posts

IMF, World Bank, puppeteers behind Nigeria’s full fuel subsidy removal – Falana
Economy

IMF, World Bank, puppeteers behind Nigeria’s full fuel subsidy removal – Falana

3 days ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery begins nationwide distribution of petrol

3 days ago
Dangote Refinery Petrol Price Drops as Direct Fuel Distribution Begins September 15
Economy

Dangote Refinery Petrol Price Drops as Direct Fuel Distribution Begins September 15

6 days ago
Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

3 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Pensioners threaten nationwide protest over unpaid benefits
National

Pensioners threaten nationwide protest over unpaid benefits

22 hours ago
Only Senate Can Decide Natasha Akpoti-Uduaghan’s Resumption- CLERK
National

Only Senate Can Decide Natasha Akpoti-Uduaghan’s Resumption- CLERK

2 days ago
Nigeria risks civil war if corrupt judge is appointed INEC chairman – Buba Galadima
National

Nigeria risks civil war if corrupt judge is appointed INEC chairman – Buba Galadima

2 days ago
SSANU, NASU give FG seven-day strike notice over unmet demands
National

SSANU, NASU give FG seven-day strike notice over unmet demands

2 days ago
2027: New applications for political parties’ registration now at 144 — INEC
National

INEC: 4.44m register online, 509,929 complete physical registration in ongoing CVR

2 days ago
Nigerian Parents Struggle With School Fees as Inflation Rises
National

Nigerian Parents Struggle With School Fees as Inflation Rises

3 days ago

POLITICS

Rivers PDP warns Fubara against defecting to APC

Rivers PDP warns Fubara against defecting to APC

22 hours ago
2027: Why Peter Obi may return to PDP

2027: APC engaged in early campaign against electoral act – PDP

22 hours ago
APC’s only member in Abia House of Assembly dumps party

APC’s only member in Abia House of Assembly dumps party

22 hours ago
2027: We won’t condone members with ulterior motives – ADC

2027: We won’t condone members with ulterior motives – ADC

3 days ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

10,000 APC, PDP members defect to ADC in Benue

3 days ago
I will break second term jinx in Ekiti – Gov Oyebanji

I will break second term jinx in Ekiti – Gov Oyebanji

7 days ago

YOUR ECONOMY

IMF, World Bank, puppeteers behind Nigeria’s full fuel subsidy removal – Falana
Economy

IMF, World Bank, puppeteers behind Nigeria’s full fuel subsidy removal – Falana

3 days ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery begins nationwide distribution of petrol

3 days ago
Dangote Refinery Petrol Price Drops as Direct Fuel Distribution Begins September 15
Economy

Dangote Refinery Petrol Price Drops as Direct Fuel Distribution Begins September 15

6 days ago
Manufacturing and agric sectors decline threaten Nigeria’s industrialisation
Economy

Manufacturing and agric sectors decline threaten Nigeria’s industrialisation

3 weeks ago
FG launches initiative to cut overhead cost
Economy

FG launches initiative to cut overhead cost

4 weeks ago
Grant tax relief to media houses —Ex-NNPCL spokesman tells FG
Economy

Grant tax relief to media houses —Ex-NNPCL spokesman tells FG

4 weeks ago

E & P

Paul Scholes Defends Amorim’s System, Slams Manchester United Recruitment System
Sports

Paul Scholes Defends Amorim’s System, Slams Manchester United Recruitment System

by Steven Atogi
2 days ago
0

Poor Recruitment, Not Amorim’s Tactics, at Fault Manchester United legend Paul Scholes defends manager Ruben Amorim’s system despite the club’s...

Lookman Wins Atalanta Player of the Month of September 2024

Siasia to Chelle: Rely on Lookman, Arokodare

1 week ago
Chelsea Push £78m Fermin Lopez Transfer Bid

Chelsea Push £78m Fermin Lopez Transfer Bid

3 weeks ago
The Rise And Fall Of Sports Institute, Isaka

The Rise And Fall Of Sports Institute, Isaka

4 weeks ago
KTF Launches Free Youth Tennis Clinic in Port Harcourt

KTF Launches Free Youth Tennis Clinic in Port Harcourt

1 month ago
‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

‘It’s a shame’ – Ex-Newcastle striker, Andy Carroll blasts Isak over transfer move

1 month ago

YOUR THOUGHT & HISTORY

HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE
Opinion

HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE

by Odini Brains
2 weeks ago
Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents
National

Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents

by Odini Brains
2 weeks ago
The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
4 weeks ago
Tribute to Old Port Harcourt Boy (Peter Rufai)
Columns

Tribute to Old Port Harcourt Boy (Peter Rufai)

by Tammy Opoki
2 months ago
A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent
Columns

A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent

by Odini Brains
2 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Nine rescued from burning six-storey building in Lagos — Fire Service

Nine rescued from burning six-storey building in Lagos — Fire Service

September 17, 2025
Rivers PDP warns Fubara against defecting to APC

Rivers PDP warns Fubara against defecting to APC

September 17, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address