VAT INCREASE: PDP urges NASS to ‘save the nation from collapse’

The Peoples Democratic Party (PDP) has called on the Federal Government to reverse its decision to increase the Value Added Tax (VAT) from the current 5 percent to 7.3 percent.

According to the party, the current economic situation in the country will make the increase an unbearable burden for Nigerians.

The party stated this in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan on Friday in Abuja, adding that the PDP rejects the decision.

According to the party, the decision to increase VAT on already impoverished citizens was in bad faith and could not be justified under any guise.

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Insisting that such increment would put more pressure on families and businesses as it would result in an increase in costs of goods and services that have a direct bearing on the welfare of the people, the PDP said that instead of foisting more tax burden on Nigerians, Buhari should recover the over N14 trillion oil money alleged to have been stolen in the last four years.

“The PDP, therefore, urges the National Assembly to protect Nigerians and save the nation from collapse by rejecting this injurious decision by the Buhari Presidency”, the party said.

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