PDP Condemns FG’s Decision to Increase VAT, Asks N’Assembly to Reject It

The Peoples Democratic Party (PDP) on Thursday totally condemned and rejected the decision by President Muhammadu Buhari and his officials to increase the Value Added Tax (VAT) from 5 percent to “excruciating” 7.2 percent, saying Nigerians cannot bear such burden under the prevailing agonising economic situation.

The party in a statement signed by its National Publicity Secretary, Kola Ologbondiyan,  said the decision of the federal government is anti-people, suppressive and further confirmed the Buhari presidency as extremely exploitative, inconsiderate and absolutely insensitive to the sufferings which it has plunged Nigerians into in the last four years.

The PDP insisted that the decision to increase VAT on the already impoverished citizens is in bad faith and cannot be justified under any guise.

According to the statement, "Indeed, only an administration that does not have the mandate of the people can seek to adopt such an oppressive stance against its citizens.

"President Buhari ought to be aware that an increase in VAT would worsen our crumbling economy and put more pressure on families and businesses as it would result in increase in the costs of goods and services that have a 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."

PDP said it was even more painful that the Buhari presidency cannot give an 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 All Progressives Congress (APC) chieftains.

According to the party, "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.

"It is disheartening that at the time Nigerians ought to be enjoying the economic recovery and empowerment blueprint set out by Alhaji Atiku Abubakar, which included a slash in taxes and levies, they are rather faced with an unjustifiable and indefensible tax increase."

The PDP, therefore, urged the National Assembly to protect Nigerians and save the country from collapse by rejecting “this injurious decision by the Buhari presidency.”