Obi lauds Tinubu’s position on proposed VAT increase

Mr. Peter Obi, the vice presidential candidate of the Peoples Democratic Party (PDP), has described as gratifying the recent warning by the leader of All Progressives Congress (APC), Asiwaju Bola Tinubu, against the proposed increase in Value Added Tax by the Federal Government.
The former Lagos State governor had warned during his 67th birthday colloquium that an increase in VAT would slow down the economy.

Obi, in a statement issued on Sunday, said that the position of the PDP and its presidential candidate, Alhaji Atiku Abubakar, which was made loud and clear during the electioneering, was that tax must be relaxed to act as incentive to investors.
The former governor of Anambra State stressed that Tinubu’s warning made economic sense, but noted that the situation in the country was at variance with that of the ruling party, thus underscoring the uncoordinated campaign they dished out to Nigerians.
He stated: “It’s extremely unrealistic for anybody to think of growing the economy of this country, and creating jobs just by increasing tax; it’s too a simplistic approach.
“APC’s earlier stance of increasing tax, VAT inclusive, shows the height of insensitivity of a government that cares less about the plight of the populace.”
Obi said that he hope Tinubu would go further also to advise his party to embrace restructuring as that was the only option left to move this country forward, adding, ‘Anybody thinking that this country will work without tinkering with the political and economic structure is deceiving himself because no nation grows on injustice.”