FG imposing more hardships on Nigeria with VAT increment – Fayose

Read the press statement below…
Ekiti State Governor, Mr Ayodele Fayose has said
that the Federal Government was planning to
impose more hardships on Nigerians by increasing
Value Added Tax (VAT) from the current five per
cent to 10 per cent, describing the move as
insensitive to the plight of Nigerians who are
suffering from the bad economic policies of the
President Mohammadu Buhari led All Progressives
Congress (APC) government.
Vice President Yemi Osinbajo had said on Thursday, in
Lagos that the current five per cent VAT rate in the country
was very low, and went on to add that the Federal
Government would increase the taxpayer base this year.
Reacting through his Special Assistant on Public
Communications and New Media, Lere Olayinka, Governor
Fayose said any increment in VAT or any other tax being
paid by Nigerians at this time will further make life
unbearable for the people.
“Nigerians are suffering and the little that they have, federal
government is planning to take back through VAT
increment, this is wickedness! “Under three months,
electricity tariff was increased despite epileptic power
supply, N50 stamp duty was imposed on bank customers
for money received into their accounts via electronic
transfer, cash and cheques; petrol is being sold for as high
as N400 per litre and now they are talking about increasing
VAT to 10 per cent, this is the height of insensitivity to the
plight of Nigerians,” he said.
The governor, who lamented the increase in the cost of
living of Nigerians, occasioned by the bad economic
policies of the Federal Government, said “even recent
figures from the National Bureau of Statistics (NBS)
revealed that prices of food have hit a record high and
inflation is worsening.
“How can government be considering 100 per cent
increment in VAT when businesses are folding up, prices of
essential commodities have skyrocketed, millions of
Nigerians are losing their jobs and those who are still
employed are no longer getting paid regularly? “For even
contemplating the increment of VAT at this difficult time
shows that the Buhari-led government does not care about
the welfare of the citizens and only God will save the poor
masses from the hands of this government.”
Governor Fayose said rather than imposing more hardships
on Nigerians, President Buhari should seek help from
experts on how best to revive the country’s economy,
adding that; “As at today, the Buhari-led government is yet
to show that it has any clue to the revival of the economy.”

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