YBTC News-The increase of Value Added Tax (VAT) rate form 5 Per cent to 7.5 Per cent has taken effect following the signing into law the Finance Bill, 2019, President Muhammadu Buhari on Monday

The 2020 Appropriation Act is based on the 7.5 Per cent VAT rate.

President Buhari made this known via his Twitter handle saying “I am pleased to announce that this morning I signed into Law the Finance Bill, 2019.

“This is the first time, since the return of democracy in 1999, that a Federal Budget is being accompanied by passage of a Finance Bill specially designed to support its implementation, and to create a truly enabling environment for business and investment by the private sector.

“I thank the leadership and members of the Ninth National Ass.......


Read more here:https://ybtcnews.com/2020/01/13/buhari-signs-financial-bill-into-law-vat-now-7-5/

Don't care really. We lived fine when petrol pump price was N5, we're still doing well now that it's N145.

We've seen more pro-government policies in this administration momuch more than the predecessor's but I somehow wonder why those who almost crucicified the previous for one tenth of this are. Mute. These VAT increase with the closed borders alone would have been a weapon in the hands of those activists. Wonder what happened to all of them