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VAT Remains 7.5% Reports Financial Minister

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VAT Remains 7.5% Reports Financial Minister

Nigeria’s value-added Tax rate remains 7.5 per cent and not 10 per cent, as suggested in some reports making the round. 

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the clarification  in a statement yesterday, saying neither the Federal Government nor any of its agencies will act  contrary to  what the laws stipulate. 

Addressing concerns over government actions perceived as burdensome, Edun reassured Nigerians that  fiscal policies are designed to promote sustainable economic growth and alleviate poverty, not to hinder  them. 

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