Connect with us

News

BREAKING: Nigeria Governors Agree on No VAT, CIT Increase For Now

Published

on

408 Views

Nigeria Governors Forum (NGF) agreed at the end of subnational meeting today in Abuja that there should be “No hike in VAT, and  No reduction in corporate Income tax  CIT) for now. This is to maintain economic stability. 

This is disclosed in a communique issued today and signed by Abdulrahman Adbdulrazaq, Chairman of the NGF & Governor of Kwara State.

The governors, at the end of a meeting of subnational consultations and engagement, on Thursday in Abuja, with the Chairman of Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele,  said that the Forum have also  endorsed a revised VAT sharing formula to ensure equitable distribution of resources of 50% based on equality, 30% based on derivation, and 20% based on population.

The governors have resolved that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time in order to maintain economic stability.

Also, they have called for the continued exemption of essential goods and agricultural produce from VAT as that would help safeguard the welfare of citizens and promote agricultural productivity.

They also, at the end of the meeting, recommended that there should be no terminal clause forTertiary 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.

The meeting supports the continuation of the legislative process at the National Assembly that will culminate in. the eventual passage of the Tax Reform Bills.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Police must pay transport fares, says AIG

” No police officer has the right to enter your vehicle without paying. We should assist one another willingly, not by force,” he said.

Published

on

By

43 Views

The Assistant Inspector-General of Police(AIG) in charge of Zone 2 Command, Mr Olohundare Jimoh, speaking with transporters at Obalende garage, Lagos State, on Wednesday.

The Assistant Inspector-General of Police, Zone 2 Command, Mr Olohundare Jimoh, has declared that officers must pay fares before boarding commercial vehicles, warning against abuse of authority.

Jimoh spoke on Wednesday at Obalende garage during a sensitisation meeting with drivers and transport workers marking National Police Day 2026.

He stressed that relations between police and the public must be based on partnership, not coercion, urging both sides to support each other voluntarily.

“No police officer has the right to enter your vehicle without paying. We should assist one another willingly, not by force,” he said.

Jimoh called for stronger cooperation to maintain safety and order on roads, insisting there was no conflict between officers and transport unions.

“I don’t collect money from officers. We don’t arrest people arbitrarily. If you have issues with any officer, report directly to me,” he said.

(Vanguard)

Continue Reading

News

Tinubu scurries to Jos after Mutfwang’s security brief

Published

on

40 Views

President Bola Ahmed Tinubu will leave for Jos tomorrow to commiserate with the state government and residents over recent deadly gun attacks that lefts dozens dead.

This was following Governor Caleb Mutfwang’s security briefing to the President on the recent violent attack in Angwan Rukuba, Plateau State.

During the meeting on Wednesday at the presidential villa in Abuja, Governor Caleb Mutfwang told Mr President that although security forces have restored calm after fresh disturbances involving looters on Wednesday morning, following the deadly Palm Sunday attack that left more than a dozen dead and many others injured.

He said that investigations are continuing to determine the identities or motives of the attackers who are yet to be apprehended .

Presidency source said that President Tinubu was initially scheduled for a planned trip to Ogun State to flag off operations at the Gateway International Cargo Airport on Thursday.

From Jos, the President will travel to Lagos to observe Good Friday.

On Saturday, April 4, he will visit Ogun State to commission projects including the cargo airport.

He will then return to Lagos during the Easter holiday to commission several state infrastructure projects, including the Ojota/Opebi Link Bridge.

Before heading back to Abuja, the president will visit Bayelsa State on April 10 to commission projects completed under Governor Duoye Diri.

Continue Reading

News

JUST IN: Tinubu Heads to Jos Tomorrow, Postpones Ogun Trip for 5-State Visits

Published

on

44 Views

President Bola Ahmed Tinubu will tomorrow embark on a visit to Jos, Plateau State, as the first leg of a five-state tour across the country.

The Presidency announced that the President has postponed his scheduled trip to Ogun State to enable him to commence the series of official visits.

Details of the remaining four states in the tour are expected to be released by the Presidency in due course.

The development comes as President Tinubu continues nationwide engagements aimed at assessing development projects, interacting with stakeholders, and addressing key national issues in the respective states.

Further updates on the itinerary will be communicated as the visits progress.

Continue Reading

Trending