Experts Warn Against Tax Hikes Amid Economic Hardship, Citing Risk of Social Unrest

The imposition of higher taxes during times of economic difficulty could lead to social unrest, a prominent warning has indicated. This caution comes ahead of the enforcement of a new tax legislation that began on January 1, 2026. The federal government had previously stated that the updated tax framework would reduce the burden on low-income individuals, asserting that no new taxes were introduced.

Speaking at the recent launch of "Moria's Scar: Agbekoya Uprising," a book by Nigerian author Bimbo Bakare, the warning was issued. The speaker cautioned that raising taxes when people are already struggling financially is essentially inviting social unrest.

He drew parallels to historical events, noting that economic decisions made without considering societal impact can escalate into crises. The Agbekoya revolt was cited as an example, linked to the exploitation of cocoa prices by foreign interests which impoverished farmers and ultimately led to public resistance.

Bakare explained that the book delves into how global economic dynamics contribute to local suffering. He highlighted that events in one part of the world can have significant consequences for people elsewhere.

He further emphasized the book's role in bringing African experiences to the global stage. "We must build a critical mass and populate the global arena with our own experiences, our own African narratives," he stated.

Bakare recounted an anecdote where a Western acquaintance compiling a list of the century's top 100 influential people found no Africans. He attributed this oversight to the underrepresentation of African literature in digital and academic spheres.

"Many of those authors are not African. So, this is an effort to bridge that gap and to encourage each of us to start writing," he added.

During her review of the book, Ezinne Toyin-Asanmo commented on the interconnectedness of political and economic decisions. "Political decisions are influenced by foreign actors and business individuals entering the economy to destabilize it. For personal gain, certain groups capitalize on this, and we still observe this happening extensively in our economy today," she remarked.