PDP Condemns FG’s Planned Increment Of VAT

The Peoples Democratic Party (PDP), yesterday, condemned the decision of the Federal Government to increase Value Added Tax (VAT), from 5% to excruciating 7.2%, saying Nigerians cannot bear such burden given the current prevailing economic situation.
The party, in a statement issued by its spokesman, Kola Ologbondiyan, yesterday, described the increment as anti-people, suppressive and a confirmation that the Presidency “is extremely exploitative, inconsiderate and absolutely insensitive to the sufferings which it has plunged Nigerians into in the last four years.”
The statement read: “The PDP insists that the decision to increase VAT on already impoverished citizens is in bad faith and cannot be justified under any guise. Indeed, only an administration that does not have the mandate of the people can seek to adopt such oppressive stance against its citizens.
“President Buhari ought to be aware that an increase in VAT will worsen our decrepit economy and put more pressure on families and business as it will result in increase in costs of goods and services that have direct bearing on the welfare of the people.
“Our party charges the Buhari Presidency not to further punish Nigerians by imposing harsh tax regime to make up for its crass incompetence and lack of capacity to effectively harness and manage our resources to create wealth for the benefit of the people.
“It is even more painful that the Buhari Presidency cannot give account of the huge resources at its disposal, including the taxes it has been collecting in the last four years, most of which are frittered to service the wasteful lifestyle of the cabal at the Presidency and APC chieftains.