People

Value Added Tax

  • 7.2 % VAT Increase¬†: Millions of Nigerians will suffer-AWDROP

    The Association of Water Well Drilling Rig Owners and Practitioners(AWDROP) has warned that any attempt to increase the Value Added Tax(VAT) by 7.2 per cent will have adverse effect on millions of Nigerians.

    AWDROP made this position known through its National Public Relations Officer, Mr. Richard Adeyinka

    ‘’All Nigerians know that the Federal Government needs money, but it must thread with caution, considering the state of the economy. Any increase in VAT will affect all aspects of life negatively, the masses will suffer for it. At the present 5 per cent VAT the masses know what they are going through, what happens if it is now increased by 7.2 per cent ?.’’

    ‘’Democracy means government of the people, for the people and by the people. Government cannot stand alone without the masses, who voted those in government into power. It is advisable for government to look elsewhere’’, Mr. Adeyinka stated.