• Hike In VAT, Cost Of Electricity, Petrol, Foodstuffs Unbearable, Nigerians Lament
• Mass Action Looms
• Petrol Marketers Back Deregulation
As governments in other climes strive to ameliorate the adverse effects of the coronavirus disease (COVID-19) through palliative measures, bailouts and waivers, the Nigerian government appears to be aggravating the impact on its citizens and businesses. Rash of hikes and increases in cost of products and services, is thereby making life unbearable and near impossible for recovery.
First, it was an increase of Value Added Tax (VAT) from five to 7.5 per cent, followed by resuscitation of Stamp Duty Charge, all in the bid to boost internally generated revenue in the midst of dwindling foreign earning from crude oil. This year also witnessed the introduction of Stamp Duty on…
Source: Guardian Newspaper