Lagos and Rivers state fight for VAT rights: Right or Wrong decision?
The state governments of Lagos and Rivers are dragging the federal government over VAT. This stalemate might have far-reaching financial consequences for the remaining 34 states.
Value Added Tax (VAT) is perhaps Nigeria’s biggest money generator or source of federal government revenue, second only to crude oil.
The Rivers State government, led by Governor Nyesom Wike, has been fighting the federal government in court over who should collect taxes in the state.
The federal government is naturally concerned about the events in Rivers and Lagos, because these two states are among Nigeria’s wealthiest, contributing the most in terms of GDP and internally generated money (IGR).
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