Thursday, January 16, 2025 8:34 pm
Members of the Nigeria Governors’ Forum (NGF) held a meeting with the Presidential Tax Reform Committee, on the 16th of January 2025 to deliberate on critical national issues, including the reform of Nigeria’s fiscal policies and tax system, they (the former) threw their weight behind it.
This contained in a communique signed by H.E. AbdulRahman AbdulRazaq Chairman, Nigeria Governors’ Forum and Governor of Kwara State.
See the communique below:
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:
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.
sharing formula to ensure equitable distribution of resources:
o 50% based on equality,
o 30% based on derivation, and
o 20% based on population.
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.
clause for TETFUND, NASENI, and NITDA in the sharing of
development levies in the bills.
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.
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