The President of the All Youths Reoriented Initiative of Nigeria (AYRIN), Ambassador Olufemi Ajadi Oguntoyinbo, has called on the Federal Government to clearly explain the benefits Nigerians stand to gain from the newly introduced tax measures, warning that continued taxation without visible economic relief could further impoverish citizens.
Ajadi made this known in a strongly worded statement on Monday, where he criticised what he described as a growing culture of revenue extraction without corresponding investment in infrastructure, security, and economic empowerment.
“You cannot keep obtaining from Nigerians without first making the country conducive for economic activities to thrive. Taxation should be a tool for development, not punishment,” Ajadi said.
Concerns Over Personal Savings and Multiple Deductions Ajadi expressed deep concern over the cumulative burden placed on Nigerians, particularly workers and small business owners, noting that banks are already deducting charges from personal savings while inflation continues to erode purchasing power.
“Banks have been deducting money from Nigerians’ personal savings. What else do you want from the people by imposing a new tax law that also affects individual savings?” He queried.
According to him, Nigerians are yet to recover from existing deductions, including the 7.5 per cent Value Added Tax (VAT) and other statutory levies, making the timing of a new tax regime economically insensitive.
“We already have an established personal income tax structure. Nigerians deserve to know how this new tax will benefit them. Don’t tell us only how to collect taxes—tell us how Nigerians will benefit,” Ajadi stressed.
Subsidy Removal Without Impact
The AYRIN president also faulted the Federal Government over the removal of fuel subsidy, arguing that Nigerians have not seen any tangible benefits from the policy.
“The subsidy money that was removed—where is the impact? Nigerians have not seen improvements in infrastructure, transportation, healthcare, or education,” he said.
He warned that introducing new taxes without demonstrating accountability for previous economic sacrifices could further widen the trust gap between citizens and the government.
In a bold political demand, Ajadi urged members of the House of Representatives and the Senate to initiate a constitutional amendment that would remove immunity for future presidents beginning from 2027.
“From the next administration, the president should no longer enjoy immunity. No one should be above the law in a democracy,” he noted.
According to him, removing immunity would promote accountability, transparency, and responsible governance.
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