PDP faults Buhari’s plan for VAT hike

The Peoples Democratic Party (PDP), Thursday rejected President Muhammadu Buhari’s resolve to increase the Value Added Tax (VAT) from 5% to excruciating 7.2%.

It also said Nigerians could not bear such burden under the alleged agonizing economic situation.

Further, the opposition party condemned the decision as anti-people, suppressive and alleged that the Buhari Presidency was exploitative, inconsiderate.

PDP spokesman, Kola Ologbondiyan took these exemptions in a statement.

Part of the statement reads, “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.

“Instead of foisting more tax burden on Nigerians, the PDP charges President Buhari to account for and recover the over N14 trillion oil money established to have been stolen under his watch in the last four years”.

PDP, therefore, urged the National Assembly to protect Nigerians and save the nation from collapse by rejecting the decision to increase VAT by the Buhari Presidency.