The minister of finance, Mrs Zainab Ahmed has asked the next administration to increase the Value Added Tax (VAT) from 7.5% to 10%, claiming that this would stimulate the country’s economic growth.
She made the call during a courtesy call to the VON headquarters in Abuja.
GWG.ng reports that Ahmed said: “VAT was one of the ways to increase revenue and we still have to increase VAT because at 7.5 per cent, Nigeria has the lowest VAT rate in the world, not in Africa, in the world. In Sub-Saharan Africa, the Africa average is 18 per cent, when you increase your VAT, your Gross Domestic Product (GDP) will grow.”
However, the suggestion has met with backlash and criticisms from fellow Nigerians. They claim that it is an unfair treatment considering the financial state of the average Nigerian.
GWG.ng has gathered the tweets;
Which kain wahala be this!!! Which kain government be this God! God abeg now! Abeg now!
You people are not ready! You’re not ready for a working country. The province of Nova Scotia Has a tax of 15% and Vancouver has a tax of 12%… this are the places you people always compare to Nigeria but you don’t want to pay taxes like them but want a country like theirs lol
Make una just sell the country and give me my share
Emperor👑 Breeze @EmperorBreeze
For what reason. Make obi win court o,oh Lord, these people needs to leave government
Obidient; Enikure 002 🖐🏿🖐🏿🖐🏿🖐🏿 @MrAyotee
Is it only for Igbos? Shebi our own and Hausas go remain at 7.5%. Raise tax in a poverty laden country
LaWreNce Karka @karka_lawrence
Why not 15 % Honourable Minister.. 😂
Shege incoming in majestic proportions. Lord help us,we didn’t vote for this disaster coming our way
See why we need these whole party out of government?? But some of you will make it look like a Tribal war….shey they will increase it for only ibo people?
Your salary must reduced to reduce expenditure. All they do is milk the masses of the little they have. Economic condition should start from the top and their purses
Alhaji Chisom @AlhChisom
Tinubu and APC loading Premium Shege to show Nigerians.