Abuja, FCT – On Monday, September 9, the Federal Inland Revenue Service (FIRS) dismissed reports claiming a planned increase in Value Added Tax (VAT) from 7.5% to 10%, labeling such claims as false and misleading.

Arabinrin Aderonke, technical assistant on broadcast media to the FIRS chairman, clarified that the federal government had no intention of increasing the economic burden on Nigerians.

“The Nigerian Government is not proposing any such thing as the increment of VAT. Such reports should be ignored and discarded. It is false and misleading, as FG is not planning to add to the economic burden of Nigerians,” Aderonke stated in a release to YouDonHear?.

Alleged 10% VAT: FIRS and Finance Ministry Deny Reports

Aderonke emphasized that neither the FIRS nor the Federal Ministry of Finance had discussed any plans to increase VAT.

“It has not been discussed at all by both the Federal Ministry of Finance and FIRS.

The Federal Ministry of Finance makes financial policy while the FIRS implements it. I can authoritatively tell you that the FIRS is not aware of the increment of VAT, and there is no proposition in front of the national assembly,” she noted.

VAT Remains 7.5%: No Cause for Alarm

Aderonke urged Nigerians to disregard the reports, assuring them that the federal government was working to improve the economy and citizens’ livelihoods.

“There is no cause for alarm. Nigerians should be rest assured that the FG is working hard to fix the economy and improve the livelihood of the citizens. Please ignore such reports; it is not true,” she reiterated.