Akin Alabi, the lawmaker representing Egbeda/Ona Ara federal constituency at the National Assembly, has promised Nigerians that he will do all in his power to see that the proposed increase in VAT will not be approved by the National Assembly.

The NairaBET founder tweeted: "I stand against the PROPOSED increase of VAT. For your information, it has not been increased yet. It is a proposal by the executive which will have to be debated on the floor of the National Assembly. I will argue against it and I’m sure it will be thrown out."

He added: "Put your mind at rest. The VAT act puts the rate at 5%. Before there can be an increase, the National Assembly will have to approve it. For now it’s a proposal by the executive and the bill will have to be sent to us. On the floor, I will fight it with all I’ve got. Even though I have only one vote, I will rally like minded colleagues to go against the bill I am confident we will succeed and the bill will go into the bin."