Suspend VAT, increase stipends to the poor, Tinubu says as he turns 68 today

All Progressives Congress (APC) National Leader, Asiwaju Bola Tinubu, is celebrating his 68th birthday today with a message on his “preliminary thoughts on the economic action”the country might take should coronavirus “mortally threaten” our economy.

In the 9-point measures he believes the Federal Government should take are tax deductions and increased stipends to the poor.

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Others are that government should maintain expenditures, accelerating spending on key infrastructural projects, ensuring food security, lowering interest rates, quantitative easing, allowing downward pressure on the Naira and debt suspension.

 It is the second time Tinubu is speaking on coronavirus. In the first statement about a fortnight ago, the APC National leader had likened the crisis rocking the ruling party at the federal level to coronavirus, saying members should purge themselves of the virus.

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In his suggestion on tax deductions in the latest statement titled, A message on coronavirus, a time for unity, a time for thought, a thought for action, he said: “Government should announce a tax credit or partial tax reduction for firms. VAT should be suspended for the next 2-4 months.

This will help lower import costs and protect against shortages.” On increased stipends to the poor, Tinubu said: “We do this by widening the net, substantially increasing the number of recipients of anti-poverty stipends.“

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