South-South Governors Rally Behind Tax Reforms, Seek Enhanced Support for Oil-Producing States
In a recent meeting held in Yenagoa, Bayelsa State, the South-South Governors’ Forum expressed strong support for the tax reforms spearheaded by President Bola Tinubu’s administration. This assembly demonstrated the commitment of South-South governors to collaborate for the greater good of the region, emphasizing an inclusive approach towards the economic development of their oil-rich area.
The forum convened on a pivotal day as they discussed various initiatives that could pave the way for sustainable growth. During the meeting, Governor Douye Diri of Bayelsa State, who emerged as the new chair of the forum, called for the extension of Value Added Tax (VAT) sharing to include other areas of derivation, notably oil and gas. This request highlights the governors’ desire for a fairer distribution of resources, which is essential for fostering a robust local economy.
Governor Diri articulated a key point during the proceedings, referencing the existing law on oil derivation that mandates a minimum of 13% allocation to the producing states. He urged the federal government to consider increasing this percentage, thereby optimizing the financial benefits for communities directly impacted by oil extraction. Such a move could not only enhance local infrastructures but also spur socio-economic development in the South-South region.
The meeting also put a spotlight on ongoing environmental initiatives, specifically calling for the expansion of remediation efforts in Ogoni land to address other polluted areas within the region. This forward-thinking approach not only focuses on economic benefits but also emphasizes environmental sustainability, a critical balance in today’s development agenda.
In terms of infrastructure, the South-South governors lauded the commencement of the Lagos-Calabar Coastal Highway project but urged that it begin from the Calabar side. This sentiment underscores the governors’ vision for improved connectivity, which is crucial for stimulating economic activities in this vibrant region. They also thanked President Tinubu for the ongoing work on the East-West Road, stressing the need for its expedited completion to enhance mobility across states.
As Senator Diri stepped into his new role, he framed his leadership as a collective endeavor, emphasizing unity among the governors to drive meaningful changes that will cultivate a resilient economy beyond the oil sector. “This role is not for me alone, but for all governors to collectively move our region forward,” he stated, setting a constructive tone for future collaboration.
Governors from Akwa Ibom, Cross River, Delta, and Rivers States echoed their support for a unified approach, acknowledging that collaboration and solidarity are paramount to attracting attention and resources from the central government. The collective aspiration is to build a prosperous South-South region, which the governors believe can thrive beyond its oil legacy.
In summation, the South-South Governors’ Forum is taking proactive steps towards ensuring that the region harnesses its potential while responding to contemporary challenges. Their drive towards a more equitable distribution of resources and environmental responsibility reflects a promising path for the future of the region.
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