Former presidential candidate of the Labour Party, Peter Obi, has criticised Nigeria’s current taxation policy, warning that it risks deepening economic hardship and worsening living conditions for ordinary citizens, Peak Newspaper reports.
In a statement on Monday, Obi said recent tax measures lacked consideration for the purchasing power of Nigerians and could strain household budgets already weakened by inflation and rising costs. He argued that tax policy should support economic growth and protect vulnerable populations rather than intensify financial pressure.
Obi urged policymakers to reassess the design and implementation of tax policies, calling for reforms that enhance fairness, broaden the tax base without overburdening low-income earners, and strengthen compliance through incentives rather than punitive rates.
He also stressed the importance of transparency and accountability in how tax revenues are used, asserting that improved governance would build public trust and encourage voluntary compliance.
The former vice-presidential candidate’s comments add to a broader national debate on taxation, fiscal policy and their impacts on economic wellbeing as Nigeria navigates fiscal constraints and seeks sustainable revenue sources.
Government officials have not yet issued a response to Obi’s warning.
