President Bola Tinubu has been urged to reduce the Value Added Tax which is currently at 7.5 per cent to three per cent.
This call was made to the president by the Kaduna State chapter of the Coalition of Northern Groups (CNG) on Thursday, January 9, 2025.
In a communique issued at the end of a town hall meeting in Kaduna, Muhammed Ali on behalf of 134 Kaduna based non-profit organisations said rather than campaign for the proposed tax reform bills, the president should make living smooth for Nigerians by reducing VAT.
Ali said the CNG is concerned about the proposed amendment of VAT distribution which defunds key agencies like the NITDA, TETFUND and NASENI.
He said, “The reforms are likely to deepen poverty, increase unemployment, and stifle local businesses already grappling with economic hardship.”
He further called on the Federal Government and President Tinubu to have a rethink over the proposed controversial Tax Reform Bills.
“Therefore, the town hall recommends that all banks and telecommunication companies relocate their corporate headquarters to Abuja and remit their revenues directly to the federal government to ensure equitable distribution of benefits.
“All Northern governors, business leaders and organisations are urged to exclusively engage banks that comply with this recommendation in all financial transactions,” the communique stated.
