Ogun State governor, Dapo Abiodun, says the state joined other states in the fray to collect the Value Added Tax gets a fair share from the money being generated from the system.

The governor stated this when hosting members of the Institute of Chartered Accountant of Nigeria (ICAN)  at Oke-Mosan, Abeokuta.

According to governor Abiodun, the government decided to take advantage of the VAT controversy with the view to ensure Ogun gets a fair share from the VAT money.

He explained that despite the huge revenue being generated from VAT, the state’s share does not reflect what it generates, insisting the state action on the issue was to ensure fairness.

The governor lamented that the country is spending so much to subsidize petroleum products, thus wasting fund needed to provide basic amenities which would fast-track development.

While informing the ICAN leadership that his administration was strictly adhering to all the tenets of good governance,  Abiodun said the state generated the sum of N75bn in the  last nine months and was working towards surpassing this next year.

On the State’s Accountability Index (AI) position of the the ICAN, he observed that Ogun has moved from the 29th to 19th position, expressing his administration’s desire to see the state in the first three positions next year.

Speaking earlier, the ICAN president, Mrs. Comfort Olu Eyitayo, noted the exemplary leadership style of the governor, which she said has impacted positively in the health, education, youth development and other sectors of the economy of Ogun.

She said that the Institute has made its position known on topical issues such as Value Added Tax (VAT) and the Petroleum Industry Act, adding that the Institute would soon embark on another round of Accountability Index assessment across the country.

Mrs. Eyitayo said the visit was as part of the stakeholders engagement to reposition the Institute in order to make it stand out as a foremost accounting professional body in the country.

Wale Oluokun

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