Senate approves VAT increase as Requested by Buhari
The request by President Muhammadu Buhari to increase value-added tax (VAT) from 5 per cent to 7.5 per cent has been approved by the Nigerian senate.
It was approved by the Red Chamber after Solomon Olamilekan, chairman of the finance committee after the Federal Executive Council (FEC) approved an increase in VAT and forwarded the bill to the senate in September 2019.
