Governor Nasir el-Rufai of Kaduna State has tasked the Ninth National Assembly to include Value-Added Tax, VAT, on the exclusive list to save the country from collapse.
He made this disclosure on Monday at the second edition of the ‘Distinguished Parliamentarian Lecture’ organized by the National Institute for Legislative and Democratic Studies, NLDS.
The 7.5 per cent VAT means a consumption tax paid on all goods and services provided in or imported into Nigeria.
Governor El-Rufai stressed that in Nigeria, VAT is an effective means of survival for the country, especially now that the Nigerian National Petroleum Company (NNPC) Limited has not remitted a penny into the federation account this year.
“Value Added Tax has become a major source of survival for this country because this year, the NNPC has not brought a penny to the federation account; we’ve been relying on taxes, particularly Value Added Tax and the fact that Value Added Tax is not on the exclusive list is a major source of concern for the fiscal health of the federation and I think this National Assembly can do something about in its last six months,” the governor said at the event.
Add VAT to Exclusive List to save Nigerian economy from collapse – El-Rufai urges National Assembly
