“Nigeria Governors’ Forum Backs Revised VAT Sharing Formula, Supports Tax Reform Bills/Vop

The Nigeria Governors’ Forum (NGF) has announced its endorsement of the revised Value Added Tax (VAT) sharing formula following extensive consultations with the Presidential Tax Reform Committee. Governor Hope Uzodimma, speaking on behalf of the Forum, emphasized that the new formula is designed to promote equitable distribution of resources while bolstering the fiscal autonomy of states.

According to Governor Uzodimma, the proposed VAT formula reflects a balanced approach aimed at addressing developmental needs across the country, thereby strengthening Nigeria’s economic framework.

The NGF also expressed unanimous support for the ongoing legislative process at the National Assembly, which is expected to culminate in the passage of the Tax Reform Bills. These reforms are considered vital for streamlining the nation’s tax system and driving inclusive economic growth for the benefit of all Nigerians.