Despite the challenges posed by the COVID-19 pandemic globally, the Buhari administration will not relent in its efforts towards improving the country’s healthcare infrastructure and economy
pandemic globally, the Buhari administration will not relent in its efforts towards improving the country’s healthcare infrastructure and economy, while creating more jobs for millions of Nigerians in different sectors, supporting small businesses, local production and manufacturing, as well as extending the social safety net for the most vulnerable in society, according to Vice President Yemi Osinbajo.
With the introduction of the Basic Health Care Provision Fund, which is one per cent of the Consolidated Revenue Fund, the Vice President noted that perhaps for the first time, the kind of provision made for healthcare has increased significantly, especially in the period of a global pandemic. “In our case, our Tax-to-GDP has been extremely low, VAT in particular. Nigeria’s 7.5% VAT rate is probably the lowest when compared with some other African countries. For example, Kenya has about 16%, South Africa is about 15%, Algeria has 19%. Besides, at the moment, domestic revenue mobilization is an issue.
Explaining, the VP said, “this is also an opportunity for us to develop the local industry, especially the construction industry. That is exactly the plan in developing the housing programme, because we thought it would generate the jobs that are required now, aside from the fact that we have a housing deficit.”He added, “The second point is that we intend to use local materials, locally produced, as much as is possible in construction.
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