South-South Governors Forum Backs Tax Reform, Demands Increased Oil Derivation

Governors of the South-South geo-political zone have thrown their weight behind the proposed tax reforms initiated by President Bola Tinubu.

In a communique issued at the end of the meeting in Yenagoa, Bayelsa State, the governors expressed support for the tax reforms of the President Bola Tinubu administration.

The communique, read by the Bayelsa governor, however, urged the president to extend the proposed Value Added Tax (VAT) sharing to other areas of derivation like oil and gas.

They argued that the law on oil derivation prescribed a minimum of 13 per cent and that the federal government should consider also increasing the amount on oil derivation to states of the region.

The forum also commended the president for the award and commencement of the coastal road project but demanded that it equally commence from the Calabar axis as it would not only enhance connectivity but also stimulate economic development in the region.

While thanking President Tinubu for the ongoing work on the East-West Road, the governors stressed that work should be faster to ensure early completion.

Other areas the South South governors called for the intervention of the federal government included the extension of the ongoing remediation of Ogoni land to other polluted environments in the region.

The forum expressed its readiness to establish a robust and structured security network to enhance security of the region.

Earlier, the forum had unanimously elected Governor of Bayelsa State, Senator Douye Diri, as chairman of the South-South Governors’ Forum.

Cross River Governor, Senator Bassey Otu, emerged as vice chairman of the forum.

South-South Governors Forum Backs Tax Reform, Demands Increased Oil Derivation is first published on The Whistler Newspaper