The South East Coalition For Good Governance, SECG, has accused the government of President Bola Tinubu of excessively taxing Nigerians while failing to use tax incentives effectively to bolster economic growth.
The group also noted that the increased FAAC allocation to the States, since the removal of fuel subsidies has not translated to the development of the States.
During a press conference held in Enugu, Publicity Secretary of the group, Francis Igwe, highlighted the growing frustration among citizens regarding the economic hardships they are facing.
“The Tinubu government is squeezing Nigerians like rumpled clothes,” Igwe declared.
He emphasizing the burden of increasing taxes on average citizens of the country.
He pointed out that many families are struggling to make ends meet as the cost of living continues to rise, and wages stagnate.
“It is as if the government believes that Nigerians can bear any amount of pressure without consequence,” he added.
Igwe noted that while the Federal government has touted tax incentives as a means of promoting investment and stimulating the economy, the reality has been far different.
“These incentives are being misused and misallocated,. “instead of creating jobs and fostering growth, they are lining the pockets of a select few while the average Nigerian suffers.”he said
The SECG spokesman called for greater transparency and accountability in the administration’s handling of tax incentives.
“We need to know who benefits from these policies,” .
“It is crucial for the government to demonstrate that these incentives are being used to uplift the economy and not merely to serve the interests of the wealthy.”he said.
Igwe’s remarks come amidst rising discontent across the country, particularly in the Southeast, where the effects of economic policies are felt most acutely.
“The people are losing faith in the government’s ability to manage the economy,” “
There is a palpable sense of betrayal among Nigerians who had hoped for a better life under this administration. Also, the huge FAAC allocations to the States have not translated to the benefit of Nigerians” he noted.
He pointed to the plight of small businesses, many of which have been adversely affected by high taxation and inadequate support.
“Entrepreneurs are being crushed under the weight of these tax burdens, and instead of receiving help, they are being ignored. If we want to see growth, we must prioritize our local businesses.”he said.
He called for a comprehensive review of tax regulations and incentives.
“We need a system that works for everyone, not just the elite,”
“A fair tax policy should encourage growth and investment while ensuring that all Nigerians can benefit from the nation’s resources.” he stated.
The SECG plans to mobilize citizens for a series of town hall meetings aimed at discussing these issues and proposing alternative solutions.
“We want to give the people a voice and a platform to express their frustrations. It is essential that we come together to hold the government accountable.”he said.