The Monetary Policy Committee of the Central Bank of Nigeria has advised the Federal Government to privatise redundant public assets as part of its efforts to shore up revenue.
The CBN Governor, Mr Godwin Emefiele, at the end of the two-day MPC meeting on Friday, said the committee noted the government’s current drive to increase Value Added Tax, saying this would improve fiscal revenue to support expenditure and reduce the budget deficit and government borrowing when implemented.
VAT is a consumption tax payable on goods and services consumed by individuals, business organisations and government agencies. Punch
Pix: President Muhammadu Buhari
