The Federal Government of Nigeria has made insurance on buildings compulsory, a move that many citizens believe will further increase house rents.
Critics argue that the policy adds to the growing tax burden on Nigerians, with some accusing the government of stifling the poor instead of providing relief.
https://www.youtube.com/watch?v=8QOHOcKzBg8?si=BoLlM7XaOQ_uIK7E
Tinubu’s Excessive Tax Burden on Nigerians – A Breakdown
1. Petrol Subsidy Removal = Hidden Tax
By removing subsidy, Tinubu indirectly taxed every Nigerian. The cost of petrol and transport skyrocketed, dragging food, housing, and basic survival costs with it.
2. Education Tax on Students
By removing tuition subsidies, university school fees rose by 200–600%. Instead of grants, Tinubu brought student loans that will trap young Nigerians in debt before they even start working.
3. Electricity Tax
Subsidies slashed, Band A tariffs hiked by almost 300%—ordinary Nigerians now pay four times more for erratic power supply.
4. Customs Duty Hikes
Clearing imported goods, including tokunbo cars, now costs up to 3–4 times more due to inflated customs valuation and new levies. Nigerians are being taxed indirectly through higher market prices.
5. Bank Tax Proposal
Tinubu tried to impose a “windfall tax” on banks’ forex gains. Though paused, the intent is clear—every possible revenue source will be taxed.
6. New Tax Laws (From 2026)
Parliament passed Tinubu’s tax reforms—higher VAT, broadened tax base, stricter collection. Struggling businesses will be squeezed, many forced to shut down or pass costs to consumers.
7. Everyday Survival Tax
Whether it’s food prices, data, transport, school fees, or light bills—every increase is another form of taxation on citizens’ income.
👉 Tinubu has turned survival in Nigeria into a taxable event. He is bleeding households and businesses dry in the name of “reform.”
https://naijaanswers.com/fg-introduces-compulsory-insurance-on-buildings-nigerians-fear-higher-rent-video/
Be the first to comment