Waiving NNPCL’s Trillion Naira Debt While Taxing Nigerians Is an Act of Renewed Hopelessness – ELFON Youth Leader to FG
Waiving NNPCL’s Trillion Naira Debt While Taxing Nigerians Is an Act of Renewed Hopelessness – ELFON Youth Leader to FG
The decision to allegedly overlook trillions of naira owed by the Nigerian National Petroleum Company Limited (NNPCL) to the Federal Government, while at the same time imposing new or controversial taxes on poor Nigerians amid severe economic hardship, has been described as appalling and deeply insensitive.
Critics argue that such a move represents not “Renewed Hope” but renewed hopelessness for millions of Nigerians who are already struggling to survive under rising inflation, high unemployment, and increasing costs of basic necessities.
President Bola Ahmed Tinubu has been urged to remain accountable to the Nigerian people, as concerns grow over what many see as unequal economic sacrifices. Observers question how debts running into trillions of naira can be abruptly waived for a government-owned entity, while ordinary Nigerians are being asked to tighten their belts further through increased taxation.
Speaking to journalists at the Nnamdi Azikiwe International Airport, Abuja, the National President of the Nigerian Youth Unions’ Government, also known as the Emerging Leaders Forum of Nigeria, Ambassador Godstime Chukwubuikem Samuel, strongly condemned the development.
According to him, governance must be anchored on fairness, transparency, and empathy for the masses. He stressed that the government cannot selectively enforce financial discipline being lenient with powerful institutions while being harsh on struggling citizens.
Amb. Samuel recalled that upon his swearing-in as President, Bola Ahmed Tinubu announced the immediate removal of fuel subsidy, a policy decision that plunged Nigerians into the current wave of economic hardship.
The removal triggered sharp increases in transportation fares, food prices, rent, and general cost of living, leaving many families unable to meet basic needs.
“Since the removal of fuel subsidy, Nigerians have endured untold suffering. Asking the same people to pay more taxes while forgiving massive debts owed by NNPCL is unjust and unacceptable,” he said.
The youth leader called on the federal government to reconsider its priorities and adopt people-centered economic policies. He emphasized that any meaningful reform must begin with accountability at the top, especially within government agencies entrusted with national resources.
As public discontent continues to grow, many Nigerians are demanding clarity on the status of NNPCL’s alleged debt, the rationale behind its waiver, and how new tax policies align with the promise of renewed hope made during the 2023 election campaign.
