Tinubu Kicks against Proposed Increase in VAT

Ahmed Tinubu

Onyebuchi Ezigbo in Abuja

The National Leader of the All Progressives Congress (APC) Ahmed Tinubu, has asked the Federal Government not raise the Value Added Tax (VAT) as it will inflict more pain on the people.

Tinubu who was advising the President Muhammadu Buhari-led APC administration on how to deal with present economic challenges in the country said that any additional tax will reduce the purchasing power of Nigerians.

“Let me appeal to Vice President Yemi Osinbajo and his team to put a huge question mark on anything that concerns VAT.

“If we reduce the purchasing power of the people it can further slow down the economy. Let us widen the tax net. Those who are not paying now even inclusive Bola Tinubu, let the net get bigger and we take in more taxes and that is what we must do in this country,” he said.

Tinubu also advised FG against pushing for additional layer of taxes but instead he said efforts should be made to effectively bring more persons and organisations into the tax net so as to increase revenue earnings for the country.

Still speaking on the way forward for the country’s economy, Tinubu said Nigeria must divorce itself from the fixation that GDP rate and similar statistics were an end in itself.

He said to pull the nation from poverty, government must play a decisive role.
According to Tinubu, the goverment must at times direct and even develop markets and opportunities.