Tinubu Sends Key Message to Nigerian Governors Over Tax Reform, Details Emerge
- President Bola Ahmed Tinubu has commended the Nigerian Governors’ Forum (NGF) for throwing its weight behind the proposed tax reform bills currently at the national assembly
- After the NGF met with the presidential tax reform committee on Thursday, January 16, the governors announced their support for the bills and called for an “equitable” sharing formula for value-added tax (VAT)
- The forum endorsed a VAT sharing formula of 50 percent based on equality, 30 percent on derivation, and 20 percent on population as opposed to the one proposed by the federal government
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering politics and governance.
FCT, Abuja - President Bola Tinubu has expressed his appreciation to the Nigeria Governors' Forum (NGF) following their 'unanimous' endorsement of the four tax reform bills.
Legit.ng reports that the bills are currently under consideration by the national assembly.
Source: Twitter
A statement on Friday, January 17, by Bayo Onanuga, Tinubu's spokesperson, said the Nigerian leader lauded the governors for "their bold leadership and commitment to fostering unity among leaders nationwide, transcending regional, ethnic, and political barriers to advance Nigeria's development".
The presidency said the consultation between the NGF and the presidential committee on tax and fiscal policy on Thursday, January 16, was productive and "a commendable example of cooperation between the federal and state governments".
Tax reforms: Tinubu applauds Kwara governor
Tinubu extended special commendations to the NGF chairman, Kwara state governor Abdulrahman AbdulRazaq, for galvanising support among his peers for the tax bills, which he said would "rejuvenate the national economy and enhance Nigeria's investment climate".
In the same vein, the president commended the Northern Governors Forum, the Progressive Governors Forum (PGF), and all other groups "that made the bipartisan resolution of the controversy stirred by the tax bills possible".
Tinubu underscores primary aim of tax reform bills
Furthermore, President Tinubu insisted that the tax reform bills are pro-poor, adding that it would promote national interests, improve the competitiveness of Nigeria's economy, and attract both local and foreign investments.
He said updating the country's outdated tax laws is essential to this endeavour.
Tinubu posited that the dialogue between the NGF and the presidential committee on tax and fiscal policy reform highlights the power of constructive conversation in resolving differences. He said the governors are vital contributors to nation-building and affirmed his commitment to partnering with them to promote economic growth, national harmony, and stability.
Tinubu speaks on refining tax bills
Also, President Tinubu encouraged other stakeholders with ideas and suggestions for refining the tax bills to engage with the ongoing legislative process at the national assembly.
Finally, Tinubu urged federal lawmakers to expedite the legislative process for the bills "so that the country can swiftly reap the benefits of the reforms".
Read more on tax reform bills:
- Tax reform bills: Bauchi governor mentions 1 of the people Tinubu listens to in Nigeria
- All incomes will be taxed no matter the source, says Tinubu's tax committee
- Tax reform bills: Bauchi governor mentions 1 of the people Tinubu listens to in Nigeria
Tax reforms: Gov Sule shares thoughts
Earlier, Legit.ng reported that Governor Abdullahi Sule of Nasarawa state described the claim that the northern governors were against President Tinubu's tax reform bills as "nonsense", adding that the governors were fighting for all Nigerians.
Sule said the governors were fighting for all Nigerians, adding that the earlier proposal would have led to inflation.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
