Dr MS Abubakar Slams President Tinubu’s Economic Policies, Describes Over-Taxation as Extortion
Dr MS Abubakar Slams President Tinubu’s Economic Policies, Describes Over-Taxation as Extortion
By Matthew Eloyi
Renowned Nigerian writer, critic, and security expert, Dr MS Abubakar, has voiced strong criticism of President Bola Tinubu’s economic policies, particularly focusing on taxation and fiscal management.
In a Facebook post on Friday, Dr Abubakar questioned the effectiveness of developing an economy through what he termed “over taxation,” advocating instead for boosting production.
“Production is the key and not over taxation Mr. TAX COLLECTORI!” he stated, emphasizing the need for empowering Nigerians with loans and grants to promote manufacturing for export.
He criticized the current administration’s financial allocations, referring to the N50,000 disbursed to “APC supporters,” which he claims has cost the government N40 billion.
“Not this N50,000 you are dashing APC supporters which has now gulped N40 billion,” he noted, suggesting that these funds could be better used to foster genuine economic growth.
Dr. Abubakar also urged President Tinubu to delegate the power sector to Barth Nnaji, commending Nnaji’s achievements in Abia State. “Humble yourself and hand over the power sector to Barth Nnaji to replicate what he has been able to achieve in the power sector in Abia State,” he advised.
He further criticized what he described as wasteful spending by the government, advocating for more productive use of resources. “Stop this profligacy of spending on nonsensical nonsense. That’s how to grow the economy,” he asserted.
Dr Abubakar concluded his post by condemning the current taxation approach as extortionate, arguing that people should only be taxed once they are productive and comfortable.
“It is only after people are productive and they are comfortable in your space that you can begin to tax them or should I say ‘milk them.’ At the moment what your government is doing is simply EXTORTION!” he declared.
