It Will Positively Impact The North” – Gov Sule Unveils New Proposed VAT Formula Approved By Presidential Tax Committee

Nasarawa State Governor, Abdullahi Sule, has announced that the Presidential Tax Committee has accepted the new proposed Value Added Tax (VAT) formula recommended by the Nigeria Governors Forum (NGF).....KINDLY READ THE FULL STORY HERE▶

Governor Sule emphasized that the new Tax Reform Bills, as proposed by the NGF, will have a positive impact on the North.

The new VAT formula, which has been accepted by the Presidential Tax Committee, includes 50% based on equality, 30% based on derivation, and 20% based on population.

“The new tax reform bills presented by the Nigeria Governors Forum will positively affect the North,” he stated.

Governor Sule made these remarks on Thursday during an interview on Channels Television.

This declaration follows the Nigeria Governors’ Forum’s expression of support for the proposed tax reform bills currently being discussed at the National Assembly.

The NGF has also advocated for an “equitable” VAT sharing formula to ensure fair distribution of resources among states.

In a statement issued on Thursday, the NGF highlighted that the decision was made after a meeting with the Presidential Tax Reform Committee on January 16, 2025.

The meeting focused on critical national issues, including ongoing efforts to reform Nigeria’s fiscal policies and tax system.

The NGF recognized the necessity of a revamped tax system to boost revenue generation and promote economic stability.