Tinubu had during the 11th Bola Tinubu Colloquium at the International Conference Centre, in Abuja, entitled, ‘Next Level, Work for People,’ said that an increase in VAT would reduce the spending capacity of the people.
He had said, “I will appeal to Prof. Yemi Osinbajo and his team to put a question mark on any increase of VAT please. It will reduce the purchasing power of people which can further slow down the economy.
“Let us widen the tax net. Those who are not paying now, even it is inclusive of Bola Tinubu, let the (tax) net get bigger and take in more taxes and that is what we must do in the country instead of additional taxes for now.”
The PDP National Publicity Secretary, Mr Kola Ologbondiyan, in an interview with our correspondent said an increase in VAT would unleash more hardship on Nigerians.
He warned the Federal Government and the Federal Inland Revenue Service against embarking on any policy or programme that would inflict pains on Nigerians.
Ologbondiyan said, “FIRS will be increasing hardship on Nigerians by increasing VAT. Inasmuch as we agree that there is the need to rejig the economy and we have said it openly that this administration does not have the capacity or the wherewithal to improve on the economy.
“Having ruled for about four years, whatever extra efforts they think they can do to rejig the economy, they should put it on board now and not by imposing measures that will bring anguish and pains on Nigerians.”
