Tuesday, 19 November, 2019

PDP urges Senate not to pass VAT increase bill


The Peoples Democratic Party (PDP) has on Friday, November 8, 2019, urged the Senate not to pass the Value Added Tax increase bill.

The National Publicity Secretary of the opposition party, Mr. Kola Ologbondiyan, said the bill was hurriedly passed through second reading in the Senate even when the details of the bill were not made available to the lawmakers.

According to Punch, Ologbondiyan added that the alleged failure to avail the details of the bill to the lawmakers confirmed its toxicity to the polity.

Describing the bill as anti-people, the PDP spokesperson told the senate to remember that Nigerians have rejected the bill due to its attendant adverse economic effect on them.

He said, “Such planned increase in VAT is insensitive, suppressive and if anything, will further impoverish Nigerians and worsen the prevailing agonising economic situation in the country.

“The National Assembly, as the true representatives of the people at the federal level, should, therefore, protect Nigerians by ensuring that such an anti-people policy does not receive a final legislative stamp.”

Recall that in September, the presidency approved an increase in Value Added Tax (VAT) rate from 5% to 7.2% to expand fiscal revenue in the country.

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