The Nigeria Governors’ Forum (NGF) has expressed support for the proposed tax reform bills currently being deliberated at the National Assembly.
The forum has also called for an “equitable” sharing formula for Value-Added Tax (VAT) to ensure fair distribution of resources among states.
In a statement issued on Thursday, the NGF revealed that the decision was reached after a meeting with the Presidential Tax Reform Committee on January 16, 2025.
The meeting addressed critical national issues, including the ongoing efforts to reform Nigeria’s fiscal policies and tax system.
The NGF acknowledged the need for an overhauled tax system to enhance revenue generation and promote economic stability.
Naijaonpoint reports that the forum emphasized the importance of a fair VAT sharing formula that takes into account the economic realities and developmental needs of all states.
More details later…