that it doesn’t affect businesses. The only thing is to look at basic consumption from food, education, medical services and accommodation will carry zero percent VAT. So for the poor and small businesses, no VAT.”
Oyedele said other consumers will pay a bit more.
“We have spoken to businesses about it and they won’t increase the product price. We want to make sure when we do VAT reform, no one will increase the price of commodities. We will work the mathematics with the private sector,” he explained.
Oyedele also said each state should not be granted exclusive custodianship of their collections– because it would likely result in chaos
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