APC national leader Bola Tinubu has advised the Buhari administration to suspend the collection of Valued Added Tax (VAT) due to the outbreak of coronavirus.
The former governor of Lagos state gave this advice just one month after the Buhari administration increased VAT from five per cent to 7.5 per cent.
In a statement issued to commemorate his 68th birthday, Tinubu stated that to reduce the suffering of Nigerians, the Central Bank of Nigeria should reduce interest rates.
He 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.”
. Tinubu Asks Buhari Govt To Suspend VAT Collection Over Coronavirus Follow Concise News.