- Governor Abdullahi Sule initially opposed the federal tax reform bills because the original VAT model would heavily favor states where companies are based, especially Lagos, and could worsen inflation for consumers.
- He later softened his position after the VAT formula was revised to split revenue between the place of generation and the place of consumption.
- The revised model reduced regional concerns over fairness in VAT distribution.
- Nasarawa’s main fiscal challenge remains growing its internally generated revenue and formalizing its economy without raising household costs or hurting private-sector growth.
Source: businessday.ng
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Nigeria"
- Nigeria Sets Six-Week Deadline for 2026 VAT Modification Order
- Nigeria Consults on Draft VAT Modification Order 2026
- Nigeria Tribunal Confirms VAT on Imported IT Services Recharged at Cost but Rejects 150% Penalty
- Nigeria Tax Act 2025 Expands VAT Recovery on Services and Capital Assets
- Nigeria Begins E-Invoicing Compliance Monitoring for Large Taxpayers
