Fayose warns FG against increasing VAT

Ayodele Fayose

Ekiti State Govenor, Ayodele Fayose

The Governor of Ekiti State, Ayodele Fayose, has said advised the Federal Government against increasing value added tax (VAT) from 5 percent to 10 percent.

“Any increment in VAT or any other tax being paid by Nigerians at this time will further make life unbearable for the people,” Fayose said in a statement signed by his Special Assistant on Public Communications and New Media, Lere Olayinka.

He quoted Vice President Yemi Osinbajo to have said in Lagos on Thursday that the 5% rate for VAT was low and would need to be increased.

The governor said any increment in VAT would overburden the populace who are currently battling with nationwide fuel scarcity and increment in electricity tariff without commensurate power supply.

“Under three months, electricity tariff was increased despite epileptic power supply, N50 stamp duty was imposed on bank customers for money received into their accounts via electronic transfer, cash and cheques; petrol is being sold for as high as N400 per litre and now they are talking about increasing VAT to 10 per cent, this is the height of insensitivity to the plight of Nigerians,” he said.

The governor, who lamented the increase in the cost of living of Nigerians, occasioned by the bad economic policies of the Federal Government, said “even recent figures from the National Bureau of Statistics (NBS) revealed that prices of food have hit a record high and inflation is worsening.

“How can the government be considering 100 percent increment in VAT when businesses are folding up, prices of essential commodities have skyrocketed, millions of Nigerians are losing their jobs and those who are still employed are no longer getting paid regularly?

“For even contemplating the increment of VAT at this difficult time shows that the Buhari-led government does not care about the welfare of the citizens and only God will save the poor masses from the hands of this government.”

Governor Fayose said rather than imposing more hardships on Nigerians, President Buhari should seek help from experts on how best to revive the country’s economy, adding that; “As at today, the Buhari-led government is yet to show that it has any clue to the revival of the economy.”

Receive News Alerts on Whatsapp: +2348136370421

  • On point

    I wonder why the fed govt should be talking about increasing tax now? What have they done for the citizens so far other than the severe economic hardship which they have no clue to address. Any serious govt will not think of increasing the vat, instead they can think of other tax that can be imposed on the rich and super rich.
    God bless u gov. Fayose, I know u will always stand by the people.

  • Nazerine

    Thank you, Governor Fayose. Please don’t lose hope. Continue to fight for us, the helpless Nigerians. Almost all the predictions you made last year about Buhari’s government have come to fulfilment.


  • Ralf

    Fayose God bless u…Keep fighting for poor Nigerians…They didn’t know wht they were doing ,whn they voted illiterate old soldier, bigot Buhari. .

    Especially, in SW..Their Obas n elders warned them,bt they did not listen..Now this is d results of tht mistake…God save us frm Buhari, n most of all flni killers wit cattles n goats called herdsmen. …

  • Sitanda

    Goodness me!
    What else could go wrong with Buhari’s government?

    • Joseph Ogbodo

      Buhari has achieved his goal – ruling Nigeria as a civilian. I wonder aloud if this government is thinking of next election or are they working on another bogus term with which to sweep the people to vote for them. We are in chain (sorry) change. May God deliver us.

  • Sitanda

    Buhari is really chastising Nigerians now with scorpions and whips…
    One socio-economic horror after the other.

  • Mizch

    No APC.s supporters’ comments yet on this. Or their phone batteries are dead?

  • ade

    Please Mr Fayose, postpone building of your 5.7billion naira bridge and pay your workers who have not been paid for 4 months and the economy of the state is down. People are suffering in ekiti State, yet you will collect your salary and
    security votes?

    • Damilola

      Shame!!! Provide an alternative reality to what he said.

  • Rev

    I advise our pastor prof. vice to pray…seems Buhari is using him nefariously!