Abuja: The 36 state governors of Nigeria, under the umbrella of the Nigeria Governors’ Forum (NGF), are gathered in Abuja to deliberate on tax reform and other pressing national matters. The meeting is being chaired by Gov. AbdulRahman AbdulRazaq of Kwara, who currently holds the position of the forum’s chairman.
According to News Agency of Nigeria, the meeting sees the attendance of governors from several states including Oyo, Anambra, Bauchi, Jigawa, Lagos, Ogun, Abia, Ebonyi, Bayelsa, and Akwa Ibom. Additionally, the deputy governors of Kaduna and Zamfara are participating in the discussions. The meeting is further bolstered by the presence of speakers from State Houses of Assembly.
During a meeting on January 17 with the Presidential Committee on Fiscal and Tax Reforms, the NGF supported a revised Value Added Tax (VAT) sharing formula. This proposed formula aims to distribute 50 percent of VAT based on equality, 30 percent on derivation, and 20 percent on population.
In related developments, the Federal Government has inaugurated 50 newly appointed Tax Appeal Commissioners to aid in economic reforms and boost revenue generation. Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, emphasized the crucial role of these commissioners in improving revenue collection. He also stressed the significance of the Tax Appeal Tribunal (TAT) in ensuring equitable tax dispute resolution, encouraging investment, and creating a business-conducive environment.