The thirty-six State Governors under the aegis of the Nigeria Governors Forum, NGF are presently at a meeting in Abuja.
Though an agenda for the meeting has not been made available to Journalists, there are strong indications that the NGF approved a revised formula for distributing Value Added Tax, with 50% allocated equally and the Tax reform bills may be discussed at the meeting.
Recall that the governors had come up with the revised formula and this is the first meeting of the governors this year.
Recall that on January 16 NGF under the leadership of the Kwara State Governor, AbdulRahman AbdulRazaq expressed its support for modernising the country’s tax system.
The governors had said last year, that “The Forum reiterated its strong support for the comprehensive reform of Nigeria’s archaic tax laws. Members acknowledged the importance of modernising the tax system to enhance fiscal stability and align with global best practices.
“The Forum endorsed a revised Value Added Tax sharing formula to ensure equitable distribution of resources: 50 per cent based on equality, 30 per cent based on derivation, and 20 per cent based on population
The Governors may also address topics such as the State of the Nation, State Police, and other pertinent issues, just as the meeting is ahead of tomorrow’s National Economic Council, which is scheduled to take place at the Presidential Villa.
At the meeting are the Governor of Lagos State, Babajide Sanwo-Olu, the Governor of Oyo State, Seyi Makinde, and the Governor of Bauchi State, Bala Mohammed,
Other governors who have arrived include Umaru Namadi, the Governor of Jigawa State, and Hadiza Balarabe, the Deputy Governor of Kaduna State, and governors of Bayelsa, and Benue, among others.
