Federal government may increase VAT to fund minimum wage

ADVERT

Senator Udoma Udo Udoma, Nigeria’s Minister of Budget and National Planning, has given a sign that the administration may need to raise Value Added Tax (VAT) to subsidize the new national minimum wage.

He expressed this on Tuesday when he showed up before the Senate Committee on Finance at the consultation to consider on the new national minimum wage of N30,000 endorsed by the Senate.

The Senate had endorsed the new figure at its whole on Tuesday.

Talking before a board driven by Senator John Owan Enoh, Udoma noticed that the Technical Advisory Committee on the minimum wage would present its answer to President Muhammadu Buhari amid the week.

“The present minimum wage of N18,000 is actually excessively low. It is troublesome for laborers to survive with that sum. The President upheld a survey yet it is vital that as we are turning it, around, we ought to able to fund it.

It is due to this reason that we would come you (Senate), on the grounds that there might be the need to roll out certain improvements, particularly the VAT, so as to finance the minimum wage once it is reported,” he said.

ADVERT

Joshua Samuel
About Joshua Samuel 161 Articles
Joshua Samuel is a pro blogger who finds delight and fulfillment in telling stories in different formats with the aid of technology and social media.

Joshua Samuel started expressing his love for writing when he was just 10 years old and always come on top of his class with strong grades in English Language and other social study courses while in College.
He is graduate of digital marketing from SIIT and wishes to commence his masters degree in digital marketing/journalism in the nearest future.

Joshua is also an editor at Get247News Nigeria and as published over 5,000 articles on the web which includes 1932 viral articles.

Joshua is the chief editor and the founder of TheElitePost.

you can contact him on Joesam@theelitepost.com

Below are the articles written by Joshua so far...

2 Comments

  1. It’s a very good improvement by the Federal government but it’s not good enough. The Nigerian labourers deserve more.

1 Trackback / Pingback

  1. Federal Government Denies Rumor of Increasing VAT By 50% – Get247News Nigeria

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.