Business
…warns government against suffocating Nigerians with toxic economic measures
THE Human Rights Writers Association of Nigeria (HURIWA) has strongly condemned the Federal Government’s recent decision to increase the Value Added Tax (VAT) from 7.5% to 10%. The civil rights organization criticized the government for imposing additional financial strain on Nigerians, stating that these policies are driving the population into deeper poverty. HURIWA further warned that these actions, influenced by the International Monetary Fund (IMF), the World Bank, and individuals like Bill Gates, could ignite widespread unrest.
In a statement signed by its National Coordinator, Emmanuel Onwubiko, HURIWA called for an immediate reversal of the VAT hike and other “suffocating” fiscal measures that are compounding the economic suffering of the populace. The group warned that Nigerians may not endure further deterioration of their economic conditions, which could lead to civil disobedience.
“The VAT increment is just one in a series of damaging financial measures. Since the removal of fuel subsidies, petrol prices have surged by over 200%, with ripple effects on transportation, food, and other essential commodities. The average Nigerian, especially in low-income groups, is struggling to afford basic necessities,” the statement read.
The rights group further lamented the effect of inflation on the housing sector, as rising costs have forced landlords to increase rents, pushing many citizens to the edge of homelessness. Despite these severe challenges, HURIWA criticized the government’s apparent disconnect from the harsh realities faced by everyday Nigerians.
HURIWA argued that these decisions are being driven by international financial institutions like the IMF and World Bank, whose policies prioritize fiscal tightening at the expense of social welfare. “The Nigerian government is making choices that benefit these institutions but leave the Nigerian people worse off. The well-being of citizens is being sacrificed for economic targets dictated by foreign entities,” HURIWA stated.
Citing the National Bureau of Statistics (NBS), HURIWA emphasized that 133 million Nigerians, or 63% of the population, live in multidimensional poverty, a stark indicator of the country’s deteriorating socio-economic conditions. The group stressed that this alarming figure underscores the gravity of the situation and the urgency of reversing harmful policies.
HURIWA also pointed to warnings from the United Nations, which projected that over 25 million Nigerians could face severe food insecurity between June and August 2024, primarily in northern regions. Factors like climate change, conflict, and poor governance contribute to this crisis, which is exacerbated by rising food prices. HURIWA warned that the hunger crisis could reach catastrophic levels unless urgent measures are taken.
“The government has done little to address poverty, unemployment, and inequality. Instead, it has implemented policies that increase the burden on citizens, with no corresponding wage increases or safety nets. This approach is unsustainable and could lead to social instability,” HURIWA warned.
HURIWA condemned the government’s continued compliance with directives from the IMF and World Bank, which have long advocated austerity measures. The group argued that these external entities prioritize economic statistics, such as debt repayment and fiscal balances, over the welfare of the Nigerian people.
“These financial bodies are promoting policies that align with their global agenda, not with the survival of ordinary Nigerians. The government is blindly following their advice without considering the local realities,” HURIWA added.
In addition to criticizing international financial institutions, HURIWA expressed concern over the influence of wealthy foreign individuals, particularly Bill Gates, on Nigeria’s economic policy. While acknowledging the potential goodwill of philanthropists, HURIWA argued that decisions affecting millions of Nigerians should not be influenced by individuals disconnected from the country’s socio-economic conditions.
“Bill Gates and other foreign influencers may have good intentions, but they lack an understanding of the daily struggles Nigerians face. Their influence on national policy is detrimental when the policies they support contribute to rising taxes and poverty,” the group stated.
HURIWA warned that the combination of high taxes, inflation, and widespread poverty is a ticking time bomb, drawing parallels to the Arab Spring uprisings, which were triggered by economic hardship. The organization stressed that Nigerians are being pushed to the brink, and if the government continues on its current path, the nation could face mass protests or worse.
“The Nigerian government is playing with fire. The people cannot continue to bear the weight of these toxic financial policies. If these hikes persist, they could spark mass unrest, similar to what we saw in the Arab Spring,” HURIWA cautioned.
In conclusion, HURIWA urged the government to reverse the VAT increase and shift its focus to policies that prioritize the well-being of Nigerians. The group called for a comprehensive review of all economic policies that burden the population and demanded the implementation of poverty alleviation programs.
“The administration must realize that Nigerians cannot afford further hikes in costs of living. The government should prioritize uplifting its citizens rather than impoverishing them,” the statement concluded.
A.I
Sept. 9, 2024
Tags: Emmanuel Onwubiko HURIWA World Bank
