‘FG is operating economic Yahoo yahoo’ – Nigerians react as Government increases VAT from 5% to 7.2%

Federal Government increased minimum wage and reduced purchasing power by increasing VAT to 7.2%. I stan, economic Yahoo yahoo. pic.twitter.com/VQK9gk3yMl

— Baba Folarin (@That_IjebuBadoo) September 12, 2019

To celebrate their victory yesterday, they haff increased VAT to 7.2 percent ? #PEPT

— Onyeka John CFC(Nwa wawa) (@onyeka18) September 12, 2019

To celebrate @Mbuhari's successful coup, the FEC has raised VAT to 7.2%. I hope the Buharists and APC apologists are exempted from this new tax regime and all other evils that is to come. https://t.co/VqLzXVol7i

— Oke Umurhohwo (@OkeStalyf) September 12, 2019

Imagine an investor buys Nigeria off, and FG gave everybody a share of the money to leave Nigeria.

Which Country would you migrate to? ?

VAT TO 7.2%

— ♔† ⓚⓘⓝⓖ ⓛⓔⓧⓩⓨ ⓞⓕ ⓐⓑⓤⓙⓐ ?❤ (@Cute_Hoelodo) September 12, 2019

The only solution the govt of Buhari has to the economic challenges is to increase VAT to 7.2%.

That's almost 50% increase from initial 5%.

Do not also forget they are still planning to tax online transactions by 2020.

This is what you get when you have a Buhari as President.

— Tosin Olugbenga (@TosinOlugbenga) September 12, 2019

By increasing the VAT to 7.2%, the federal government is adding salts and insult to the wounds of poor Nigerians ? pic.twitter.com/d6dnKP7U29

— Xxxclusivecollections (@xxxclusivewears) September 12, 2019

Nig with none of the basic amenities & no incentives for SME ar increasing VAT to 7.2% as if it isn't enough that for a business to thrive in Nigeria, the business owner, must provide all the amenities he needs for himself.

I say no to increment of VAT to 7.2% #pointofview pic.twitter.com/YkM4MRy0pG

— Pecky (@PeckyOfficial) September 12, 2019

FG increases VAT to 7.2% but are yet to implement minimum wage since 652 BC.

Nigerians: pic.twitter.com/BiUKvUempb pic.twitter.com/FGhTPsocwt

— Nsisong Michael #bbnaija (@michael_nsisong) September 12, 2019

Quick thoughts about the proposed increase in VAT to 7.2%

This is low compared the rest of Africa/world

Other countries in Africa are at
Ghana 15%
Egypt 14%
South Africa 15%
Rwanda 18%
Kenya 16%

There is also a 5% consumption tax in Lagos, which takes Lagos to 12.5%

— Tunji Andrews (@TunjiAndrews) September 12, 2019

Most Nigerians are silent on this VAT to 7.2% hike cos they are ignorant of the consequences. Here're a few takes:

*Prices of foodstuffs will shoot up
*Naira value will further reduce
*More money will be available for politicians to loot
*More poverty & miseries#Buhari #Atiku pic.twitter.com/kiYUsHiLuD

— Afri-Sagacity (@afrisagacity) September 12, 2019

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&I’m sure it will be thrown out. – @akinalabi
VAT to 7.2%

— Tosin Olugbenga (@TosinOlugbenga) September 12, 2019

Instead of increasing VAT to 7.2%,cut down government unnecessary expenditure, reduce security vote.

— Obinna Ehumadu (@maziobiehumadu) September 12, 2019