House of Reps will reject VAT increment – Hon Akin Alabi

Honourable Akin Alabi, a member of the House of Representative said the proposal from the Federal government to increase Value Added Tax will be rejected by the National Assembly.

Alabi, is a member of the All Progressives Congress (APC) representing Egbeda/Ona Ara federal constituency of Oyo State, tweeted on Thursday that whenever the executive brings the bill to the National Assembly, he will be against it.

The Federal Executive Council on Wednesday approved an increase in the Value Added Tax (VAT) payable in Nigeria from the 5% to 7.2% .

Alabi tweeted, “I stand against the PROPOSED increase of VAT. For your information, it has not been increased yet. It is a proposal by the executive which will have to be debated on the floor of the National Assembly. I will argue against it and I’m sure it will be thrown out.”

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