In a recent video on SYMFONI TV, former Rivers State governor Rotimi Amaechi has warned that a proposed tax policy could significantly affect business owners, tenants, and consumers if implemented after future elections.
Speaking at a political gathering, Amaechi claimed that under the tax framework, a large portion of payments made for goods or services would automatically be deducted. According to him, “The tax law is if I pay you 100 million naira for your building material, automatically 25 million will leave your account,” suggesting that up to 25 percent of transactions could be remitted to the federal government.
The former minister argued that such deductions would trigger a chain reaction across the economy. He explained that suppliers would likely transfer the added cost to landlords, who in turn could increase rents. Professionals such as doctors, carpenters, and traders might also adjust their service charges, ultimately pushing the burden onto ordinary citizens through higher living expenses and school fees.
Amaechi further alleged that the policy had not yet been implemented for political reasons, linking the delay to electoral considerations involving the ruling All Progressives Congress. He questioned why the measure would be postponed until after elections and urged Nigerians to verify the legal provisions independently.
His remarks also included criticism of governance challenges, insecurity, and economic hardship, alongside calls for voters to participate actively in upcoming polls. Amaechi encouraged citizens to consider how fiscal and administrative decisions could shape their financial future and access to basic services….Read More
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