A group, the Oodua Consultative Forum (OCF), has asked President Muhammadu Buhari and the National Assembly to earmark “at least 20 per cent of all Value Added Tax (VAT) accruable to the Federation Accounts from the Southwest to the infrastructural development of Yorubaland.
The President-General Worldwide, OCF, Prince Adebisi Oyemade, made this call in a statement issued in Abeokuta, Ogun State.
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The OCF, which lamented the dilapidated state of federal infrastructure in the Southwest and the helplessness of the region’s governors to tackle the problem owing to paucity of funds, suggested that “the proposed 20 per cent derivation from VAT could be routed through the proposed South West Development Commission, which the Southwest senators and House Representatives members are seeking to establish through a bill now tabled before the National Assembly.”
Oyemade said: “The 20 per cent, which should be applicable to all regions in the country from the VAT collected from each region, should be deductible as first-line charge and without prejudice to the current sharing formula of VAT revenue.”
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