FG imposing more hardship 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.”