Tinubu sides with Nigerian masses, warns FG against increasing VAT

Tinubu sides with Nigerian masses, warns FG against increasing VAT

By Omotilewa Quadri

The National Leader of the All Progressives Congress (APC), Asiwaju Bola
Tinubu on Thursday identified with Nigerian masses and called on the Federal Government to halt further action on the planned increase in Value Added Tax (VAT).

Tinubu, who spoke at the 11th Bola Tinubu Colloquium to mark his 67th birthday in Abuja, stated that hiking VAT would further impoverished the
poor who would bear the brunt of the increase.

In his submission, the federal Government should widen the tax net and ensure all those Nigerians who had refused to pay their tax were made to
do so as a way of raising revenue.

According to him, increase in VAT would not help the ordinary man in the country, stressing that those in charge of generating revenue for the country must begin to think of other sources of revenue.

Earlier, Lagos State Governor, Akinwunmi Ambode said that Tinubu with “undoubted political courage” spearheaded the ruling party to victory
in recent the national elections.

He said that APC won at the national and state levels.

Ambode said Tinubu had been a key to the successes and progress recorded
by the current administration.

Tinubu, he said, was also going to be part of the success of Nigeria in
years to come.

Vice President Yemi Osinbajo and many other dignitaries attended the colloquium.

Commenting on “Nigeria’s Industrialisation Policy”, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, unveiled the administration’s plans to spur the country’s industrialisation and growth.

He listed Eyimba Industrial City, Lekki Modern Industrial Park and Funtua Cotton Cluster as major projects to grow Nigeria.

The Eyimba city in Abia state, he said, covered 9,500 hectares of land. The master plan has been completed.

The partners in the project included South Africa, United Arab Emirate,
China, African Export-Import Bank.

He reported that the power project for electricity had been put in place and the zone would create 625,000 jobs.

The Lekki park is occupying 1,000 hectares of land designed to handle export of manufactured goods. The feasibility study of the zone has been prepared, he said.

The Funtua cotton cluster, he said would pull more than 8,000 farmers together to restore cotton production and value chain as well as produce
feeds for animals and spur textile industry.

The zone, he said, would attract more than $2 billion investment.

..