The Rivers State Government, which already enacted its VAT law, has also approached the Supreme Court to set aside the Appeal Court’s ruling. He argued that other states contributed to the success of Lagos and Rivers states. “The derivation factor in the distribution of VAT revenue should be much higher than what obtains presently which is a mere 20 per cent. He added, “These externalities put enormous pressure on the finances of the sub-nationals that provide the bulk of the VAT revenue. He said, “It is other parts of the country that make Lagos and Rivers states what they are.

Source: Punch October 03, 2021 00:00 UTC