Coronavirus: Tinubu Urges President Buhari To Suspend VAT

By Moses Godonu

The National Leader of All Progressives Congress, Bola Ahmed Tinubu has called on the Federal Government to suspend collection of the Value Added Tax (VAT) immediately amid the ravage of coronavirus.

President Muhammadu Buhari had last month increased VAT from five per cent to 7.5 per cent.

The APC leader said the government must reduce the sufferings of Nigerians by introducing tax cuts while the Central Bank of Nigeria must reduce interest rates.

He said this in a statement presented by him in commemoration of his 68th birthday on Sunday.

Tinubu wrote, “Government should announce a tax credit or partial tax reduction for companies or firms. VAT should be suspended for the next two to four months. This will help lower import costs and protect against shortages.

“We need to protect the people from food shortages and high prices. As such, we must quickly improve farm-to-market delivery of agricultural produce. Also, government should initiate a crash program to decrease spoilage of agricultural produce by construction of storage facilities in local marketplaces in and around major cities and towns throughout the country.”