State Governors Meet In Abuja
Members of the Nigeria Governors ‘ Forum on Wednesday met at the forum’s secretariat in Abuja.
It was the first meeting of the forum for the 2025. Although the agenda of the meeting was not made available to journalists as of press time, the American Ambassador to Nigeria, Richard Mills; and the Minister of Women Affairs, Imaan Sulaiman-Ibrahim; attended the meeting with the governors.
A handful of governors including that of Kwara, Lagos, Abia, Ogun and some deputy governors were also in attendance.
At their meeting in January, the governors backed the Federal Government’s tax reform bills but proposed a new sharing formula for value-added tax (VAT).
The governors proposed a revised VAT-sharing formula which they said would ensure equitable distribution of resources.
According to the NGF, the new sharing formula will be 50% based on equality, 30% based on derivation, and 20% based on population.
“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 communique issued by the Chairman of the NGF and Governor of Kwara State Abdul Rahman Abdul Razaq read.
“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.”
The NGF recommended that there should be no terminal clause for the Tertiary Education Trust Fund (TETFUND), National Agency for Science and Engineering Infrastructure (NASENI), and National Information Technology Development Agency (NITDA) in the sharing of development levies in the bills.
