Lagos provides more than half of Nigeria’s VAT – Adeosun

Minister of Finance, Kemi Adeosun has said more than half of Nigeria’s value added tax (VAT) comes from Lagos state.

Adeosun said this while speaking at the parley between the federal government and progressive governors forum (PGF) in Abuja on Tuesday.

She said only 13 percent of Nigeria’s VAT comes from 32 other states in the federation.

The minister added that no country in the world with high tax compliance rate is poor.

“There is no poor country that has a high tax compliance rate, and no rich country that has a low one,” Adeosun said.

She said, “55% of Nigeria’s VAT is collected in Lagos State. 20% in FCT, 6% in Rivers, 5% in Kano, 1% in Kaduna”.

“I’m hoping that one day Finance Commissioners will stop needing to come to Abuja monthly to share FAAC, because IGR (internally generated revenue) will be sufficient.”

Adeosun urged states to generate revenue and not rely on federal government for federal allocation.

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