Kogi State Commissioner of Finance to Discuss Fiscal Reforms and Economic Development on BudgIT
By Julius Abel
The Kogi State Commissioner of Finance, Budget, and Economic Planning, Hon Asiwaju Asiru Idris has announced invitation to join him in the next edition of State of States: The Series, hosted by BudgIT, to discuss fiscal reforms and economic development in Kogi State.
Event Details
- Date: Friday, June 20, 2025
- Time: 5:00 PM
- Venue: X Spaces
Discussion Focus
The Commissioner, in the statement released, said the conversation will centre on fiscal strategies shaping Kogi’s economic future, providing insights into the state’s development plans and potential impact of tax reforms on its economy.
Background
He added that the recent tax reform bills proposed by the Nigerian Senate aim to overhaul the nation’s tax structure, potentially empowering states like Kogi to drive their own development and enhance local governance with key provisions which includes:
- Increased VAT Revenue Allocation: Raising the state share of VAT to 55% from the current 15%, which would significantly boost Kogi’s revenue base, supporting critical infrastructure projects, healthcare, and education systems.
- Fiscal Federalism: Allocating taxes based on economic activity location rather than corporate headquarters could lead to substantial revenue inflows for Kogi, promoting fiscal independence.
- Simplification of Taxation: Reducing double taxation and unnecessary levies would remove barriers to growth, attracting investors and stimulating economic activities.
Importance of the Discussion
Hon. Idris said the conversation is crucial in understanding how Kogi State plans to leverage these reforms to drive economic growth and development. With the potential benefits of tax reforms, including eased burdens on small businesses and increased revenue allocation and how Kogi State is poised to unlock its vast economic potential.
