Sanwo-Olu, Makinde and Bauchi Governors among others have arrived for the NGF Meeting.
NewsOnline Nigeriareports that the Governor of Lagos State, Babajide Sanwo-Olu, the Governor of Oyo State, Seyi Makinde, and the Governor of Bauchi State, Bala Mohammed, have arrived at the Maitama office of the Nigeria Governors’ Forum in Abuja for the NGF meeting.
Other governors who have arrived include Umaru Namadi, the Governor of Jigawa State, and Hadiza Balarabe, the Deputy Governor of Kaduna State, among others.
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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 NGF approved a revised formula for distributing Value Added Tax, with 50% allocated equally.
The governors stated, “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.”
In their first meeting of 2025, the Governors are expected to discuss and review updates on the recently approved Tax Reform Bills.
The 36 State Governors will also address topics such as the State of the Nation, State Police, and other pertinent issues.
This meeting on Wednesday is being held in preparation for the National Economic Council, which is scheduled to take place at the Presidential Villa in Abuja on Thursday.
Details shortly…
