Shrinking Purchasing Power Coupled with New Tax Law Will Increase Poverty Rate - Bongo

Sun, 12 Oct 2025 08:13:10 +0000

The fiscal deficit has been shrinking due to the reforms implemented by President Tinubu. Growth has improved because the underlying macroeconomic conditions appear to have stabilised. However, while the new tax laws seem to provide some relief to low-income earners, we have observed that they actually impose a greater tax burden. This is particularly concerning given that the purchasing power of the money people have has diminished, which, combined with increasing taxes, is likely to lead to higher levels of poverty.

Prof. Adi Bongo, Economist

Subscribe to our Channel for high profile interviews. Follow us on Twitter at https://twitter.com/ARISEtv |
and Instagram: https://www.instagram.com/arisenewsofficial |
and Facebook: https://www.facebook.com/AriseTVNews |
Check out our website www.arise.tv