The Minister of Finance, Budget and National Planning, Zainab Ahmed, has urged the incoming administration to increase the Value Added Tax (VAT) from the current 7.5 percent to 10 percent.

She noted that this would stimulate the country’s economic growth.

The minister made the call during a courtesy visit to the headquarters of Voice of Nigeria in Abuja.

Ahmed also said VAT is one of the ways to increase revenue stressing that Nigeria has the lowest VAT rate in the world.