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FLASH: Senate Approves “3% VAT” Allocation For North East Development Commission


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Information reaching Nairametrics indicates that the Senate has approved that the funding for the North East Development Commission come from 3% VAT contributed Nationwide.Currently, VAT revenue is shared as follows : Federal Government – 35%State Government – 40% Other News Stanbic IBTC PMI: Nigeria’s private sector expands for fifth consecutive month in JuneNDIC begins liquidation, […]

Chacha Wabara

1 min read

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VAT

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Information reaching Nairametrics indicates that the Senate has approved that the funding for the North East Development Commission come from 3% VAT contributed Nationwide.

Currently, VAT revenue is shared as follows :

Federal Government – 35%

State Government – 40%

Other News

Local Government – 25%

We still do not know if the 3% will come from the FG’s share only.
More to follow….

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