CBN Backs FG’S Plan To Increase VAT, Says Nigeria Has Lowest Charge - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
September 21, 2019
The Central Bank of Nigeria, CBN Governor, Godwin Emefiele says the plan to increase Value Added Tax, VAT from five per cent to seven point per cent is in the right direction to raise the country’s revenue.
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Emefielestated this while fielding questions from journalists after the Monetary PolicyCommittee meeting held in Abuja.
Hesaid the government had responsibility to fend for every citizenry by providingbasic infrastructure like roads, electricity and hospitals among others.
Heexplained that the government had only two ways to fund such projects, whichare by raising revenue and through loan collection.
Accordingto the Governor, the present government has been criticised by some people forhigh rate of debt incurred.
Heappealed to Nigerians to show understanding and support government’s policies.