Tinubu Commends Governors For Backing Tax Reform Bills

President Bola Ahmed Tinubu has commended the Nigerian Governors’ Forum (NGF) for supporting the proposed tax reform bills currently before the national assembly.

Gatekeepers News reports that the Governors announced their support for the bills and called for an equitable sharing formula for value-added tax (VAT)after meeting with the presidential tax reform committee on Thursday, January 16.

The forum endorsed a VAT sharing formula of 50 per cent based on equality, 30 per cent on derivation, and 20 per cent on population as opposed to the one proposed by federal government.

Tinubu in a statement on Friday by Bayo Onanuga, his special adviser on information and strategy, said the Governors are vital contributors to the building of the country.

The statement reads, “President Bola Tinubu expresses his appreciation for the Nigeria Governors’ Forum following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.”

“Thursday’s productive consultation between the Nigeria Governors’ Forum and the Presidential Committee on Tax and Fiscal Policy is a commendable example of cooperation between the Federal and State governments.”

“He extends special commendations to the Chairman of the Governors’ Forum, Kwara State Governor Abdulrahman AbdulRazaa, for successfully galvanising support among his peers for these transformative tax bills to rejuvenate the national economy and enhance Nigeria’s investment climate.”

“He also commends the Progressive Governors Forum, the Northern Governors Forum, and all other groups that made the bipartisan resolution of the controversy stirred by the tax bills possible.”

The president noted that the primary aim of the bills is to promote national interests, improve competitiveness of Nigeria’s economy, and attract both local and foreign investments.

Tinubu encouraged other stakeholders with ideas and suggestions for refining the tax bills to engage with the ongoing legislative process at the national assembly.

He also urged national assembly to expedite the legislative process for the passage of the reform bills.