PDP Demands VAT Reversal To 5%
- Says hike inflicts more pains on Nigerians
BY EDMOND ODOK, ABUJA – Not in anyway ready to let off the steam in its sustained criticisms of Federal Government policies, the Peoples Democratic Party (PDP) is demanding an urgent reversal of the Value Added Tax (VAT) to its original five per cent status.
According to the main opposition party, government’s decision to hike the VAT rate represents part of forced multiple taxation that will escalate the current suffering and untold hardship on Nigerians and businesses in the country.
Speaking during its National Executive Committee (NEC) meeting in Abuja, PDP National Chairman, Prince Uche Secondus, said the nation was sliding into bankruptcy due to ineptitude of the President Muhammadu Buhari-led All Progressives Congress (APC) administration.
“Our country is in a very bad shape. The populace is groaning in pains and the government’s response is heaping of further pains on them. This country is sliding into bankruptcy.
“Amidst the frightening insecurity accompanied by mass killings that have set fears on the people, what you get from government is multiple tariffs, VAT, etc, and continued indulgence in lies and propaganda,” Prince Secondus said.
The Party chairman, who expressed serious concerns over the deteriorating security situation in the country, said Nigeria was at a crossroads due to government’s poor handling of security challenges nationwide.
“The security situation in the country has refused to abate, and nothing concrete is being done by the government to ameliorate it and stop the senseless killing of innocent Nigerians.”
He further said; “The truth about this country is that Nigerians don’t really know who is in charge. It appears that governance is in autopilot with government agencies in a free world harassing and intimidating perceived enemies.”
The Federal Government had, in January 2020, reviewed VAT upwards to 7.5 per cent through the Finance Bill passed into law by the National Assembly (NASS) and accented to by the President.
