- The party noted that the levy came at a wrong time because Nigerians were still grappling with the economic hardship.
The Peoples Redemption Party (PRP) has denounced the President Bola Tinubu-led administration’s move to impose a N50 electronic levy on transactions exceeding N10,000.
This stance was made public through a statement issued by Comrade Muhammed Ishaq, the acting National Publicity Secretary of the party.
The PRP expressed deep concern over the imposition of this levy, which affects all financial transactions above N10,000 through various banking and fintech platforms.
The party views this levy as an additional, unwarranted burden on Nigerians, who are already struggling to make ends meet.
“In a time when citizens are grappling with unprecedented hardships —exacerbated by the disastrous removal of fuel subsidies and other misguided policies — the federal government’s choice to impose an additional levy is not only tone-deaf but outright callous.”
“This electronic levy, set to commence on December 1, 2024, is a flagrant display of insensitivity to the plight of ordinary Nigerians.”
“The Federal Inland Revenue Service (FIRS) may justify this levy as part of revenue collection efforts, but it’s clear that this is an exploitative measure aimed at squeezing more money from citizens overburdened by high inflation, soaring living costs, and declining purchasing power.”
The PRP warned that this policy would drive Nigerians away from banking, contradicting efforts to promote financial inclusion.
“The measure would further make low-income earners avoid banking despite calls to have them banked.”
“Nigerians have shown resilience in the face of hardships, but the continual imposition of levies and taxes only deepens economic suffering.”
The party questioned the government’s insensitivity to the people’s plight amidst harsh economic conditions.
“Daily, families face painful choices: whether to pay for essentials or forego basic needs.”
“It’s an affront to life and dignity that the government would exacerbate citizens’ suffering with additional financial burdens.”
The statement urged the government to review the policy in the people’s interest.
“We call on the federal government to reconsider and immediately halt this electronic levy, focusing instead on providing relief to Nigerians in these challenging times.”
“The PRP urges the government to implement policies prioritizing the people’s welfare, revitalizing the economy, and stimulating growth, rather than resorting to punitive measures.”
“The PRP stands in solidarity with Nigerians affected by this unjust levy and calls for collective action against it.”
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