Value Added Tax (VAT) is payable on goods and services consumed by any person, whether government agencies, business organisation or individuals.

The Minister of Finance, Budget and National Planning, Zainab Ahmedconfirmed the approval of the increase at the end of the weekly Federal Executive Council (FEC) on Wednesday, September 11th.

The new rate which will take effect from sometime in 2020, is however subject to an amendment of the VAT act of 1994 by the National Assembly.

“This is important because the federal government only retains 15% of the VAT, 85% is actually for the states and local government and the state needs additional revenue to be able to meet the obligations of the minimum wage.

“This process involves extensive consultations that need to be made across the country at various levels and also it will involve the review of the VAT Act. So, it is not going to be implemented immediately until the Act is reviewed,” the minister said, according to Punch.

Well, check out how Nigerians are accepting the news on twitter


The increment of VAT to 7.2% is to justify the position of Buhari’s “bellectual” economists that min. wage increment will lead to inflation. This single action will increase inflation & will serve as a subtle blackmail of Labour that we told u d increment will cause inflation.

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the Morris Monye factor@Morris_Monye

Nigerian politicians are really the wickedest people on earth…

If you know about commodities, you can feel the noose tightening around the neck of the common man.

Increasing VAT to 7.2% while Senators are getting billions monthly and refusing to increase minimum wage is wow!

96 people are talking about this


The decision to increase VAT to 7.2% is a clear statement that the Federal Govt doesn’t care about how well businesses are doing in the country. Their only goal is to fund government accounts and we all know where that money ends up.

And you wonder why foreign investors ran.

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As a Nigerian, you’re your own government.

You provide for your own electricity, security, education, transportation, and overall survival.

But at the end of the day, the “actual” government will still want to take away from the little you have left.

VAT to 7.2% my foot!!

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Mr. Paschal@PaschalPax

The hike of VAT to 7.2% means that companies will transfer the burden to consumers which will lead to decrease in demand, which means less money for those in business which in turn leads to loss of jobs and businesses. Dear welcome to next level

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They are yet to implement 30k minimum wage, but are fast to increase VAT to 7.2%. I am tired of this country, they should just sell Nigeria, Now foodstuffs will increase, I can’t even buy anything from online store again. Who did we offend?

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Fatai Razaq@Razakidae

Increasing .2% to pay salaries will only trigger both supply-driven (increase in the price of goods) and demand-driven inflation ( civil servant buy more goods). Coupled with the recent increase in electricity tariff-will bring more suffering and make us poorer. https://twitter.com/nigeriantribune/status/1172026449773174784 

Nigerian Tribune


BREAKING: FEC raises VAT to 7.2%https://tribuneonlineng.com/breaking-fec-raises-vat-to-7-2/ 
Tribune Online#NigerianTribuneAt70

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Credit: Bella Naija


The Chairman of the Forum and Governor of Zamfara State, Abdul’aziz Yari disclosed this while briefing newsmen at the end of its 2nd emergency meeting held in Abuja.

Yari said that the decision was arrived at  after a briefing from the forum representatives at the Tripartite Committee.

He said that the  welfare of all Nigerians was the ultimate concern of the governors,  saying  in all our states, we are concerned about the deteriorating economic situation experienced by the vulnerable segment of our population.

He said that in  agreeing to a National Minimum Wage, the Forum was even more concerned about development, particularly in the health, education and infrastructure spheres.

“It is therefore our considered position that since the percentage of salaried workers is not more than five per cent of the total working population, our position must not just reflect a figure, but also a sustainable strategy based on ability and capacity to pay, as well as reflective of all our developmental needs in each State.

“After all, Section 3 of the National Salaries Income and Wages Commission Act provides that “the Commission shall recommend a proposition of income growth which should be initiated for wage increase and also examined the salary structure in public and private sector with reasonable features of relativity and maximum levels which are in consonance with the national economy

 “It is in this sense that we feel strongly that our acceptable minimum wage must be done in such a way that total personnel cost does not exceed 50 per cent of the revenue available to each State.

“Governors therefore agreed to pay a national minimum wage of N22,500,” Yari added.

The News Agency of Nigeria (NAN)  reports that at the meeting with the governors were the Minister of Labour and Productivity, Dr Chris Ngige and the Minister of Budget and National Planning,  Sen. Udoma Udo Udoma.

Some of the governors at the emergency meeting were Kebbi,  Ebonyi,  Imo, Lagos,  Plateau,   Osun,    Ekiti,  Ogun, and Nasarawa represented by Deputy, Adamawa.

The Organised Labour had scheduled Nov. 6  to embark on  nationwide strike to compel government to peg a new minimum wage at N30,000.

The leaders of Nigeria Labour Congress (NLC), Trade Union Congress of Nigeria (TUC) and United Labour Congress of Nigeria (TUC), on Tuesday held  mass protest across the country as part of sensitisation of workers and Nigerians for the planned industrial action.

Credit: Pulse News

The Federal Government on Tuesday, October 23, 2018, declared that it was working hard to come out with a policy that would limit the number of children that a mother could have in Nigeria.

It stated that traditional rulers and other leaders across the country were being engaged as regards this, adding that the move was aimed at addressing one of the “great challenges” in the Economic Recovery and Growth Plan of the Federal Government.

The Minister of Finance, Zainab Ahmed, who disclosed this while responding to questions during a session at the 24th Nigerian Economic Summit in Abuja, noted that the country’s population had been identified as one of the great challenges confronting the successful implementation of the ERGP.

Ahmed said,

“We have been engaging traditional rulers and other leaders. Specifically, we have found out that to be able to address one of the great challenges that we identified in the ERGP, which is the growth in our population, we need to engage these institutions.

“And we hope that with their support, we will get to a point where we can come out with the policy that limits the number of children that a mother can have because that is important for sustaining our growth.”

When asked about the sustainability of the ERGP by successive governments, Ahmed argued that the plan would be sustained as it was purely a document that focused on the development of the Nigerian economy.

Culled from punch.ng

Photo credit: Google

UNICEF Country Representative in Nigeria, Mr Mohammed Malick-Fall, disclosed this at the closing of a five-day workshop on Public Finance for Children in Abuja on Sunday, October 21, 2018.

“Public financing for children is important because development money is just the seed money compared to the needs in Nigeria.

“It is important for Federal and State Governments to release the funding that we need to meet the Social Development Goal (SDG),” Malick-Fall said.

Also speaking, Mr Gustave Nebie, UNICEF Regional Adviser, Social Policy, West and Central African Region (WCARO), described the workshop as timely.

“I think it was a good workshop, because what is important here is diversification of partnership.

“Usually, this kind of workshop is held for people in the social policy section only but fortunately, in Nigeria the senior management has decided to bring everybody along.

“The idea is due to the fact that public finance involves all sections of the organisation,” Nebie said.

He said that participants at the workshop had been equipped with various skills to work towards enhancing the wellbeing of children.

“For me, it was a very successful meeting and I was really happy to be part of it.

“It will kick start a process in which we have to work together in order to be able to move the public finance agenda.

“As we all know, we are working to achieve results for children and we need to make sure that we get more resources for the benefit of the children,” Nebie said.

The News Agency of Nigeria (NAN) reports that the workshop was organised for staff of UNICEF Regional offices in Ghana, Liberia, Sierra Leone and Nigeria.

Credit: Pulse, NAN

Rebecca Sharibu, mother of abducted Dapchi Girl Leah Sharibu, is suing the Federal Government and demanding the sum of ₦500 million in damages.

Leah Sharibu remains the only girl in captivity after 119 students of Government Girls Secondary School, Dapchi, Yobe State, were abducted in February, 2018.

The abduction was carried out by Islamic State West Africa (ISWAP), a faction of the insurgent group Boko Haram.

The Cable reports that Rebecca, in a suit before the Lagos High Court, is suing the Federal Government and asking that they secure the release of her daughter.

Also named in the suit are the Attorney General of the Federation Abubakar Malami and the Inspector General of Police Ibrahim Idris.

The suit was, according to The Cable, jointly filed with Daniel David Kadzai and Lift-Up-Now Incorporation, a US-based organisation.

Part of the suit, made available to journalists, asked for an order “directing and mandating the defendants to secure the immediate and unconditional release of the plaintiff from the custody of her captors forthwith.”

The suit also requested for an order “compelling the defendants to employ every means in securing the plaintiff from the custody of her captors; an order compelling the defendants to pay the plaintiff the sum of ₦500 million being compensation for the indignities and human deprivations suffered by the plaintiff as a result of the defendants’ dereliction of statutory duties in securing her release from her captors since the month of February, 2018 till date of this action”.



Source: Bella Naija