The 36 state governors, under the aegis of the Nigeria Governors’ Forum, have met in Abuja to discuss tax reform and other national issues.
The meeting held on Wednesday night was chaired by the forum’s chairman, Governor AbdulRahman AbdulRazaq.
Governors from Oyo, Anambra, Bauchi, Jigawa, Lagos, Ogun, Abia, Ebonyi, Bayelsa, and Akwa Ibom were in attendance. Also present were the deputy governors of Kaduna and Zamfara. Speakers of the houses of assembly were also at the meeting.
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 NGF endorsed a revised value-added tax-sharing formula at its January 17 meeting with the Presidential Committee on Fiscal and Tax Reforms.
The proposed formula allocates 50 per cent based on equality, 30 per cent on derivation, and 20 per cent on population.
On Wednesday, the federal government inaugurated 50 newly appointed tax appeal commissioners to strengthen economic reforms and revenue generation.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, underscored the commissioners’ vital role in enhancing revenue collection.
He highlighted the importance of the Tax Appeal Tribunal in ensuring fair tax dispute resolution, fostering investment, and promoting a business-friendly environment.
