Ambassador Olufemi Ajadi Oguntoyinbo, President of the All Youths Reoriented Initiative of Nigeria (AYRIN), has called on the Federal Government to clearly outline the benefits Nigerians will gain from newly introduced tax measures. He warned that continued taxation without visible economic relief risks worsening the financial burden on citizens.

In a statement on Monday, Ajadi criticised what he described as a “growing culture of revenue extraction” without corresponding investment in infrastructure, security, or economic empowerment.

“Taxation should be a tool for development, not punishment,” he said.

Concerns Over Personal Savings and Multiple Deductions
Ajadi highlighted the cumulative strain on Nigerians, particularly workers and small business owners, noting that bank charges on personal savings, inflation, and existing levies like the 7.5% Value Added Tax (VAT) have already eroded household purchasing power. He urged the government to explain how the new tax will benefit citizens rather than only focusing on revenue collection.

Subsidy Removal and Lack of Visible Impact
He also criticised the removal of fuel subsidies, stressing that Nigerians have yet to see tangible improvements in infrastructure, transportation, healthcare, or education. Ajadi warned that introducing new taxes without accountability for previous policy changes could deepen public distrust in government.

Calls for Presidential Accountability and Road Safety Measures
Ajadi further urged the National Assembly to amend the constitution to remove immunity for future presidents, starting in 2027, emphasizing the need for accountability in governance. He also criticised the withdrawal of security from VIP convoys, citing a recent incident involving international boxing champion Anthony Joshua, and questioned the effectiveness of road safety enforcement when roads themselves remain in poor condition.

Warning of Looming Hardship
The AYRIN president cautioned that the new tax initiative could lead to reduced household savings, higher costs of goods and services, business closures, job losses, and rising poverty if implemented without safeguards. He called on the government to engage citizens transparently and ensure that taxation is matched with visible development outcomes.