By Joke Kujenya
REPORTS OF a Value-Added Tax (VAT) increase in Nigeria have been firmly denied by the Federal Government.
Recent claims suggested a possible rise from 7.5% to 10%. However, the government has made it clear that no such proposal exists.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, debunked the rumours.
He emphasized that the VAT rate remains at 7.5%, and there are no immediate plans to increase it.
Edun assured Nigerians that President Bola Ahmed Tinubu’s administration is focused on stabilizing the economy and providing relief from inflation.
He stated that the government has been introducing sustainable measures to ease the burden on citizens.
Policies such as suspending import duties on essential goods are aimed at reducing the cost of living without adding further tax pressure.
The Minister also confirmed that any future changes to tax policy will be communicated clearly through official channels, ensuring the public is informed and preventing misinformation from spreading.
The Ministry of Finance reaffirmed its commitment to transparent communication, urging Nigerians to disregard unverified reports that create unnecessary concern.
