The Tinubu Media Support Group (TMSG) has rejected claims by former Vice-President Atiku Abubakar that the federal government is over-taxing citizens and pursuing unsustainable foreign borrowing.
Atiku had criticized the administration’s economic strategy, arguing that Nigeria could not “borrow, import, and tax its way to prosperity.”
In a joint statement issued by Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the pro-government group described Atiku’s assessment as “untenable” and driven by political opportunism rather than economic realities.
Tax reforms and food inflation
Responding to allegations of excessive taxation, TMSG highlighted recent tax reforms exempting small businesses from Companies Income Tax and Capital Gains Tax, alongside income tax exemptions for individuals earning up to ₦1.2m annually.
“Nigerians have more tax reliefs now than at any time in recent history,” the statement read, adding that small business transactions no longer face mandatory withholding tax deductions.
Addressing food price concerns, the group acknowledged a slight month-on-month rise in food inflation for June 2026, but noted that the overall 17.52 per cent figure marked a significant improvement from 25.41 per cent recorded in June 2025.
TMSG attributed recent price pressures primarily to rising global fuel and transport costs linked to ongoing Middle East conflicts, rather than domestic policy failures.
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