Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

FG Debunks VAT Increase Rumours

Bello Akin by Bello Akin
September 9, 2024
0
FG Debunks VAT Increase Rumours

Honours Minister For Finance, Mr Wale Edun

Share on FacebookShare on TwitterShare on Whatsapp

The Federal Government has categorically refuted reports circulating in the media suggesting that President Bola Ahmed Tinubu’s administration is considering an increase in Nigeria’s Value-Added Tax (VAT) from the current rate of 7.5% to 10%.

In an official statement released earlier today, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, dispelled the speculation, reaffirming that there are no plans underway to raise the VAT. He emphasized President Tinubu’s administration’s focus on maintaining fiscal stability and promoting economic growth without imposing additional financial burdens on Nigerians.

“The VAT rate remains unchanged at 7.5%,” Minister Edun stated, adding that the administration is more concerned with implementing sustainable economic policies aimed at reducing inflationary pressures and fostering long-term growth. He pointed out that the government’s primary goal is to create a balanced economic environment that stimulates growth without causing undue hardship for citizens.

Highlighting recent government measures to mitigate economic challenges, Mr. Edun referenced the suspension of import duties on essential goods as part of a broader strategy to cushion the effects of rising costs and ease economic hardships for the populace.

The Federal Ministry of Finance reiterated its commitment to ensuring transparency in all tax-related matters, assuring citizens that any potential tax reforms would be communicated through official government channels. Mr. Edun urged the public to disregard misleading information and to trust only verified announcements from credible sources.

The Ministry’s Director of Information and Public Relations, Mohammed Manga, signed off on the statement, stressing that the Federal Government remains dedicated to open communication to prevent the spread of misinformation.

More News...

Middle East: When will the wars end?

Middle East: When will the wars end?

Hope, Not Hype: Debunking Political Distractions and Spotlighting the People’s Progress

Hope, Not Hype: Debunking Political Distractions and Spotlighting the People’s Progress

Atalanta Announce Signing of Honest Ahanor from Genoa

Atalanta Announce Signing of Honest Ahanor from Genoa

LIVERPOOL FC TO PAY REMAINING €18.7M OF LATE DIOGO JOTA’S CONTRACT TO FAMILY IN TOUCHING GESTURE

LIVERPOOL FC TO PAY REMAINING €18.7M OF LATE DIOGO JOTA’S CONTRACT TO FAMILY IN TOUCHING GESTURE

Politics Without Honour: The Crisis of Ideology in Nigeria’s ADC Experiment

Politics Without Honour: The Crisis of Ideology in Nigeria’s ADC Experiment

ADC Coalition: A Gathering of Political IDPs – Renewed Hope Global Fires Back

ADC Coalition: A Gathering of Political IDPs – Renewed Hope Global Fires Back

TRAGEDY STRIKES: Liverpool Star Diogo Jota, Brother Andre Die in Car Accident Weeks After Wedding

TRAGEDY STRIKES: Liverpool Star Diogo Jota, Brother Andre Die in Car Accident Weeks After Wedding

Why is Merit No Longer Matters in Nigeria; And the Nation Suffers for It: By Dr. Tofunmi Ogunronbi

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters