The President of the Academic Staff Union of Universities (ASUU), Prof. Emmanuel Osodeke, has voiced strong opposition to the implementation of a controversial tax bill, asserting that an increase in VAT (Value Added Tax) would further burden many Nigerians who are already struggling with the removal of fuel subsidies and the floatation of the Naira.

Speaking on Channels Television’s Sunrise Daily, Prof. Osodeke criticised the federal government and lawmakers who support the bill for their lack of consultation with key stakeholders, such as researchers from tertiary institutions.

“I believe it is crucial to consider how this bill will impact ordinary Nigerians,” he stated. “I have heard various opinions from different regions supporting or opposing it. However, it seems there has been no thorough examination of the bill itself. Let me highlight one aspect: VAT.

“VAT is essentially a tax on consumers—meaning it directly affects Nigerians. If VAT is increased today, it won’t impact producers significantly; instead, they will simply transfer the cost to consumers,” he explained.

The proposed Increase in VAT, included in the controversial tax bill currently under consideration by the National Assembly, has sparked mixed reactions since its introduction. (The Guardian)