The 36 states of the federation are set to receive an estimated ₦5.07trillion as their share of Value-Added Tax (VAT) in 2026, following the commencement of a new VAT sharing formula introduced under the National Tax Acts, findings have shown. This development is contained in the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) approved by the Federal Executive Council. According to the fiscal framework, the implementation of the new National Tax Acts from January 2026 will reduce the Federal Government’s VAT share from 15% to 10%, while the…
Read More₦5trillion VAT windfall for states, as new formula begins
