Thursday, October 30, 2025
  • About
  • Advertise
  • Careers
  • Contact
Newsroom Nigeria
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life
No Result
View All Result
Newsroom Nigeria
ADVERTISEMENT
Home Across the Nation

GOVERNORS SUPPORT TAX REFORMS, ENDORSE REVISED VAT FOR STABILITY

The Forum endorsed a revised Value Added Tax (VAT) sharing formula to ensure equitable distribution of resources: o 50% based on equality, o 30% based on derivation, and o 20% based on population.

Newsroom Nigeria by Newsroom Nigeria
January 16, 2025
in Across the Nation
Reading Time: 1 min read
0
SHARES
Share on FacebookShare on Twitter

COMMUNIQUE ISSUED AT THE END OF THE SUBNATIONAL CONSULTATIONS AND ENGAGEMENT WITH THE PRESIDENTIAL TAX REFORM COMMITTEE.

We, members of the Nigeria Governors’ Forum (NGF) and
presidential tax reform committee, convened on the 16th of January
2025 to deliberate on critical national issues, including the reform of
Nigeria’s fiscal policies and tax system, and arrived at the following
resolutions:

Related posts

SOUTH WEST GOVERNORS, STAKEHOLDERS RALLY FOR POWER DEVOLUTION, REGIONAL GROWTH AT PARLEY IN ONDO

SOUTH WEST GOVERNORS, STAKEHOLDERS RALLY FOR POWER DEVOLUTION, REGIONAL GROWTH AT PARLEY IN ONDO

October 29, 2025
Development Has No Party,  Progress Knows No Partisan Affiliation – Afenifere Leader

Development Has No Party, Progress Knows No Partisan Affiliation – Afenifere Leader

October 29, 2025

1. The Forum reiterated its strong support for the comprehensive
reform of Nigeria’s archaic tax laws. Members acknowledged
the importance of modernizing the tax system to enhance fiscal
stability and align with global best practices.

2. The Forum endorsed a revised Value Added Tax (VAT)
sharing formula to ensure equitable distribution of resources:

o 50% based on equality,
o 30% based on derivation, and
o 20% based on population.

Nigeria Governors Forum

3. Members agreed that there should be no increase in the VAT
rate or reduction in Corporate Income Tax (CIT) at this time, to
maintain economic stability. The Forum advocated for the
continued exemption of essential goods and agricultural
produce from VAT to safeguard the welfare of citizens and
promote agricultural productivity.

4. The meeting recommended that there should be no terminal
clause for TETFUND, NASENI, and NITDA in the sharing of
development levies in the bills.

5. The meeting supports the continuation of the legislative
process at the National Assembly that will culminate in. the
eventual passage of the Tax Reform Bills.

𝐒𝐢𝐠𝐧𝐞𝐝
H.E. AbdulRahman AbdulRazaq
Chairman, Nigeria Governors’ Forum & Governor of Kwara State.

ShareTweetSendShareShare
Previous Post

TINUBU CONGRATULATES NIGERIAN SCIENTISTS, ENGINEERS ON MAKING PRESIDENT BIDEN’S HONOURS LIST

Next Post

Court Jails Fake Spiritualist for Internet Fraud

Related Posts

SOUTH WEST GOVERNORS, STAKEHOLDERS RALLY FOR POWER DEVOLUTION, REGIONAL GROWTH AT PARLEY IN ONDO
Across the Nation

SOUTH WEST GOVERNORS, STAKEHOLDERS RALLY FOR POWER DEVOLUTION, REGIONAL GROWTH AT PARLEY IN ONDO

October 29, 2025
Development Has No Party,  Progress Knows No Partisan Affiliation – Afenifere Leader
Across the Nation

Development Has No Party, Progress Knows No Partisan Affiliation – Afenifere Leader

October 29, 2025
TINUBU EMBARKS ON STATE VISIT TO SAINT LUCIA, ATTENDS BRICS SUMMIT IN BRAZIL
Across the Nation

PRESIDENT TINUBU SIGNS INSTRUMENT OF CLEMENCY AND PARDONS, MOVES SECRETARIAT OF PREROGATIVE OF MERCY COMMITTEE TO JUSTICE MINISTRY

October 29, 2025
Gov AbdulRazaq Receives 23 Freed Abductees, Says Kidnappers Have ‘No Place in Kwara’
Across the Nation

Gov AbdulRazaq Receives 23 Freed Abductees, Says Kidnappers Have ‘No Place in Kwara’

October 28, 2025
WHY NIGERIA IS BEST FOR GLOBAL MINERAL INVESTMENT – ALAKE 
Across the Nation

WHY NIGERIA IS BEST FOR GLOBAL MINERAL INVESTMENT – ALAKE 

October 26, 2025
Viewpoint: Patient Data at Risk: Why Nigerian Healthcare Must Strengthen Cybersecurity
Across the Nation

Viewpoint: Patient Data at Risk: Why Nigerian Healthcare Must Strengthen Cybersecurity

October 26, 2025
Next Post

Court Jails Fake Spiritualist for Internet Fraud

RECOMMENDED NEWS

TINUBU SIGNS  FOUR TAX BILLS INTO LAW TO TRANSFORM FISCAL, REVENUE FRAMEWORK

GROUP WRITES TINUBU, SAYS SECURITY OF LIVES AND PROPERTIES REMAIN THE FIRST DUTY OF GOVERNANCE “

4 weeks ago

NIGERIA, INDIA REINFORCE STRATEGIC PARTNERSHIP, VOW TO BOOST ECONOMIC, DEFENCE, HEALTH, AND FOOD SECURITY TIES

12 months ago

President’s wife, ex-Gov Bamigboye, Innih, Lawal, Dr. Amuda Aluko, Ndalolo, Rashidi Yekini, Others Honoured as Gov Abdulrazaq Names Iconic Projects

9 months ago

Yahoo Boy Bags Two Years For Impersonating Flavour N’abania, Duping American.

1 year ago

FOLLOW US

ADVERTISEMENT
ADVERTISEMENT

POPULAR NEWS

  • TINUBU SIGNS  FOUR TAX BILLS INTO LAW TO TRANSFORM FISCAL, REVENUE FRAMEWORK

    BREAKING: TINUBU CHANGES SERVICE CHIEFS

    0 shares
    Share 0 Tweet 0
  • We’re Determined to Deliver Port Harcourt Ring Road Project – Governor Fubara

    0 shares
    Share 0 Tweet 0
  • TINUBU TO INEC CHAIRMAN, JOASH AMUPITAN: SERVE WITH INTEGRITY AND BEYOND REPROACH

    0 shares
    Share 0 Tweet 0
  • Group Commends Senate For The Passage of Sexual Offences Bill 2015, Which Prescribes Life Sentence for Rapists

    0 shares
    Share 0 Tweet 0
  • ‎Group Revises Inflation Rate Projection to 14% from 17 Percent for December

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
Newsroom Nigeria

The NEWSROOM NIGERIA is an independent, liberal on – line news platform committed to the right of the individual to pursue his economic happiness, without undue interference of the state. It shall promote the rights of the individual; right to freedom of worship and conscience, and to hold opinions and impact same without hindrance, subject to such laws are as consistent with the constitution and necessary for the protection of the rights of others.

  • About
  • Advertise
  • Careers
  • Contact

© 2025 Newsroom Nigeria - Designed by Semasir Connect.

No Result
View All Result
  • Home
  • News
    • Across the Nation
    • Crime Watch
    • Metro
    • Political Arena
  • Politics
  • Opinions
  • Crime and Court
    • Judiciary
  • Business
    • Banking
    • Business and Economy
    • Business Life

© 2025 Newsroom Nigeria - Designed by Semasir Connect.