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Increment In VAT: Nigerians Should Prepare For More Hardship In 2020-anyakudo - Business - Nairaland

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Increment In VAT: Nigerians Should Prepare For More Hardship In 2020-anyakudo by nancyiwuchukwuk: 5:31pm On Nov 22, 2019
The Managing Director of Niger Glaze Nig.Ltd, Prince Philips Anyakudo has said that with the increment in VAT from 5% to 7.5%, Nigeria should prepare for more hardship in the coming year.

Speaking with irukkanews while reacting to the increment, he said that the reason is because it is going to have a negative chain reaction in the economy as the price of everything in the market is bound to go up.

He said that the reason that was given by the Senate president that the purpose of the increment is to have money for the budget is nonsense.

According to him, the government in power does not have an iota of feeling for the masses.
Prince Anyakudo said that all they are thinking is about themselves and never for the masses who are bearing the brunt of their recklessness.

According to him, in other climes, before VAT is increased governments usually introduce incentives to cushion the effect that such increment would cause on the masses.

“Well, with the increase in VAT, I want to warn Nigerians to prepare for more hardship in 2020.What we are seeing now is tea party .Those who have been calling of suffering started too early .The real suffering will begin from next year .The increase in VAT is going to affect the price of everything in the market .Every product or service is going to be affect and it is the already impoverish masses that are going to feel the hit .This is an economy that does not have any social welfare or incentive for it`s citizens .All that people in power are doing is piling pressure on the citizenry .That is why they want to gag everybody ,so that they would be operating like Rambo on the loose”.He said

Read more on http://irukkanews.com/index.php/2019/11/22/increment-in-vat-nigerians-should-prepare-for-more-hardship-in-2020-prince-anyakudo/

Re: Increment In VAT: Nigerians Should Prepare For More Hardship In 2020-anyakudo by sweetonugbu: 5:34pm On Nov 22, 2019
We're getting used to it

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