Nigeria Nigerians in Shock Over Social Media Rumor of VAT Increase from 7.5% to 15%; Government Yet to Confirm

Nigerians have been thrown into disarray following unverified reports circulating on social media suggesting that Tinubu's government intends to double the Value-Added Tax (VAT) rate from 7.5% to 15%. While no official confirmation has been issued by the government yet, reactions from citizens reflect a mixture of frustration, skepticism, and resignation.

Some citizens expressed outrage at the potential increase, criticizing the government for resorting to taxation as a solution to fiscal challenges. Others voiced concerns about the impact on the already strained economy, warning of dire consequences for ordinary Nigerians.

However, amidst the outcry, some individuals offered sarcastic remarks, suggesting that the government might squander the increased revenue on corruption or frivolous projects. Others lamented the perceived lack of accountability in governance, highlighting the disconnect between taxation and tangible improvements in public services.

Despite the uncertainty surrounding the rumor, Nigerians are bracing themselves for potential hardships, with many expressing fears of increased financial burdens and worsening living conditions. As discussions continue online, the fate of VAT remains uncertain, leaving citizens anxious about the future of their country's economic landscape.