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Dairy farmers laud President on VAT exemption for animal feed

16 March 2020

NIGERIA - Farmers in the dairy sector - under the auspices of Commercial Dairy Ranches Association of Nigeria (CODARAN) - have backed President Muhammadu Buhari on his request to the National Assembly to exempt animal feed from the list of items that would attract payment of Value Added Taxes (VAT).

President Buhari had, in a letter to both chambers of the National Assembly on Tuesday, asked lawmakers to amend the recently approved Finance Bill 2019 to accommodate the exemption.

The letter reads in part, "Pursuant to Sections 58 and 59 of Constitution of the Federal Republic of Nigeria1 999 (as amended), I formally request that the Finance Act, 2019 (Amendment) Bill, be considered by the Senate, for passage into law. This Bill seeks to amend the Finance Act, 2019, as recently passed by the National Assembly."

Reacting to the request in an exclusive interview with Daily Trust, the National President of CODARAN, Muhammadu Damakka Abubakar, described the president's move as a good development, noting that it will help the sector.

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Source: AllAfrica.com

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