Tax Reform Bills to Boost State Revenue by $1 Billion

The proposed tax reform bills are expected to boost state revenue by $976 million, with 36 states of Nigeria and the Federal Capital Territory set to receive additional funding. The increased funding is part of a plan to reduce reliance on federal grants and improve internal governance in state governments.

The Nigerian government has proposed tax reform bills aimed at boosting state revenue by a significant amount, with 36 states and the Federal Capital Territory set to receive an additional N976 billion from the federation account. According to the report, this influx of funds is expected to have a substantial impact on the financial resources available to state governments. The tax reform efforts are seen as part of ongoing efforts to strengthen the nation's fiscal framework and promote more equitable distribution of revenue.