Just another News Updates
The Gombe State Commissioner for Finance and Economic Development, Gambo Magaji, has shed light on the apprehension among state governors regarding the Federal Government’s proposed derivation principle on Value Added Tax (VAT). Magaji made this disclosure on Saturday during a one-day citizens’ consultative meeting on the 2025 budget preparation. He warned that the proposed VAT […]
President Bola Tinubu has resisted a recommendation by the National Economic Council (NEC) to withdraw the tax reform bills that have stirred public debate. The Northern Governors’ Forum recently expressed opposition to the bills, asserting that they did not align with the interests of the northern region. Following its Thursday meeting, the NEC recommended that […]
Northern governors have voiced strong opposition to the proposed Tax Reform Bill, advocating against its passage in the National Assembly. Their primary concern is that a derivation-based Value-Added Tax (VAT) distribution model would financially disadvantage northern states, given that many multinationals, which contribute heavily to VAT, are headquartered outside the region. Gombe State Governor, Mohammed […]
The Federal Government has announced the removal of value-added tax (VAT) on a range of energy products, including diesel, Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and electric vehicles, as part of measures to lower costs and ease economic pressure. This announcement was made by the Minister of Finance and Coordinating Minister of the […]
President Bola Tinubu has signed an executive order suspending import duties and VAT on essential medical supplies. This measure aims to reduce the high costs of producing pharmaceuticals, diagnostics, and medical devices domestically. Health and Social Welfare Minister Muhammad Ali Pate announced the order, highlighting its significance for the Initiative for Unlocking the Health Care […]