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Reduce petrol pump price, suspend stamp duty, Atiku tells FG

Reduce petrol pump price, suspend stamp duty, Atiku tells FG

Former Vice President, Atiku Abubakar

Former Vice President, Atiku Abubakar, on Tuesday, urged the Federal Government to reduce the price of petrol in line with the reduction in the landing cost of the product.

He also called on the Federal Government to temporarily suspend stamp duty on all types of accounts until such a time the nation’s economy would have stabilised.

Atiku in his verified twitter personal handle @atiku also requested large scale industrialists and employers of labour not to disengage workers.

He, however, noted that the coronavirus scourge would affect production and profitability.

Atiku said, “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 wellbeing 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.

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

He added, “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.

“In addition to these measures, the government is urged to request large scale industrialists and employers of labour not to disengage workers.

“If they know that the government is behind them and will do all to support them, they are less likely to disengage workers.

“These are extraordinary times, and we, as a nation, must take extraordinary measures to protect the entire nation.”

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