• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, October 21, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Minister Denies Report On VAT Increase, Says 7.5% Remains

by Mark Itsibor
1 year ago
in Business
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

Share on WhatsAppShare on FacebookShare on XTelegram

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Monday, debunked reports going the rounds that the rate for Value-Added Tax (VAT) has been upwardly adjusted to 10 percent from 7.5 percent.

Advertisement

The minister, in a statement he personally signed, affirmed that the VAT rate as contained in relevant tax laws and chargeable on goods and services remains 7.5 percent.

“The current VAT rate is 7.5 percent and this is what the government is charging on a spectrum of goods and services to which the tax is applicable. Therefore, neither the federal government nor any of its agencies will act contrary to what our laws stipulate.

Advertisement

“The tax system stands on a tripod, namely tax policy, tax laws and tax administration. All the three must combine well to give us a sound system that gives vitality to the fiscal position of the government.

“Our focus as a government is to use fiscal policy in a manner that promotes and enhances strong and sustainable economic growth, reduces poverty as well as makes businesses flourish.

“The imputation in some media reports on the issue of VAT and the opinion articles that have sprouted from them seem to wrongly convey the impression that the government is out to make life difficult for Nigerians. That is not correct. If anything, the Federal Government has, through its policies, demonstrated that it is committed to creating a congenial environment for businesses to thrive.

RELATED NEWS

How Centralized Platforms Strengthen Compliance And Governance

Nigeria’s Digital PR Honours Anietie Udoh As ‘Public Relations Ambassador’

New Tax Regime: Multinationals, Local Firms Get 5% Annual Tax Credit

Regulator Says Band A Customers Must Get 20-Hour Power Supply Daily

“In fact, it is on record that the Federal Government, as part of efforts to bring relief to Nigerians and businesses, recently ordered the stoppage of import duties, tariffs and taxes on rice, wheat, beans and other food items.

“For emphasis, as of today, VAT remains 7.5 percent and that is what will be charged on all the goods and services that are VAT-able,” Edun said.

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShare10173Tweet6358Share

OTHER NEWS UPDATES

How Centralized Platforms Strengthen Compliance And Governance
Business

How Centralized Platforms Strengthen Compliance And Governance

7 hours ago
Nigeria’s Digital PR Honours Anietie Udoh As ‘Public Relations Ambassador’
Business

Nigeria’s Digital PR Honours Anietie Udoh As ‘Public Relations Ambassador’

8 hours ago
New Tax Policy To Exempt 95% of Informal Sector — Oyedele
Business

New Tax Regime: Multinationals, Local Firms Get 5% Annual Tax Credit

12 hours ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Governors Mourn Victims Of Niger Tanker Explosion

42 seconds ago

Court Fixes October 31 For Judgement In Suit Seeking To Stop 2025 PDP Convention

13 minutes ago

Governor Yusuf Urges NBC To Regulate Online Radio, TV Platforms

14 minutes ago

Foundation Marks 10th Anniversary With Conference On Widow Empowerment

1 hour ago

Chemical Weapons: Banjul NGO Forum Adopts Draft Resolution, Urges Full Cooperation From Sudan

1 hour ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.