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See Reactions As VAT Becomes 7.5% In Nigeria

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Nigerians React To VAT Increase In The Country

Muhammadu Buhari, the President of Nigeria on Monday, signed the finance bill which among other things, increased the Value Added Tax (VAT) in the country by 50%.

The Value Added Tax in the country had been 5% but once the new law becomes effective, VAT in Nigeria will become 7.5%.

Explaining why VAT had to be increased in the country, Nigeria’s Minister of Finance, Zainab Ahmed had stated that the move is to make more money available to the government particularly the state governments to enable them to pay workers the newly approved N30,000 minimum wage.

However, the signing of the bill by President Buhari on Monday has drawn massive reactions from Nigerians. See some reactions on Twitter:

Source: Naija News

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