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COVID-19: Suspend Stamp Duty, Reduce PMS Pump Price, Says Atiku



Atiku Abubakar

Former vice president and 2019 presidential candidate of the Peoples Democratic Party PDP, Atiku Abubakar has advised the federal government to suspend its policy on stamp duty and reduce the price of petrol to protect Nigerians’ economic well being amid the impacts of coronavirus.

Atiku stated this on Tuesday, noting that the government must implement actions that can ease the cost of doing business in Nigeria and reduce the cost of living.

He also urged the government to liaise with large scale industrialists and employers of labour so as not to disengage workers.

The statement reads: “The coronavirus is raging in the world and not just ravaging human beings, it is also affecting economies. Nigeria is not an island onto itself, and we must take measures to protect the economic well being of our nation and people.

“Every action that can be taken to ease the cost of doing business in Nigeria and reduce the cost of living, while promoting consumer confidence must be implemented.

“As such, I recommend that policies like the stamp duty on all types of accounts be temporarily suspended, until such time as the nation’s economy has turned the tide in the fight against this virulent scourge.

“Furthermore, as the landing cost of premium motor spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs.”

Reports however reveals that there has been significant drop in the landing cost of petrol to about N64.32 per litre.

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