The National Leader of the All Progressives Congress (APC), Mr Bola Tinubu, has called for the immediate suspension of Value Added Tax (VAT), and the reduction of tax in the country.
He made the call as part of measures the Federal Government can apply to mitigate the economic impact of the coronavirus (COVID-19) outbreak on citizens.
In a message on his 68th birthday, Tinubu said the government may have to take tougher measures to curb the spread of the disease such as imposing lockdowns in Nigeria, as done by most countries battling the scourge.
He believes the immediate suspension of VAT will help lower import costs and protect against shortages.
The former governor of Lagos State also advised the government to consider providing stipends for vulnerable Nigerians who would be most impacted by the health crisis.
He proposed food security, lower interest rates, quantitative easing, and debt suspension, as other measures to ease the effect of COVID-19 on the Nigerian economy.
The APC leader asked the Central Bank of Nigeria (CBN) to be prepared to enact extraordinary measures, should the financial sector exhibit any form of stress.
“The CBN should be prepared to give banks liberal access to its loan discount window to ensure adequate liquidity within the banking sector,” he said.
Source: Channels TV
