State governors yesterday expressed support for the Finance Bill, which seeks to increase Value Added Tax (VAT) from five per cent to 7.5 per cent. Vice-chairman of the Nigerian Governors Forum (NGF) and Sokoto State Governor Aminu Tambuwal disclosed this at the NGF monthly meeting in Abuja.
Lagos State Governor Babajide Sanwo-Olu yesterday said that the drive to increase the state’s Internally Generated Revenue (IGR) would not hurt the residents. He also pledged not to tamper with the autonomy enjoyed by the Lagos State Internal Revenue Service (LIRS).
Recapitalisation is a form of a corporate reorganisation, which involves making substantial changes to a company’s capital structure. It is one of the strategies companies use to improve their financial stability. Currently, the insurance industry is undergoing the process.