History is made in Lagos as the State Governor, Babajide Sanwo-Olu has signed the Value Added Tax bill (VAT) into law.
This was announced in a statement by the state Commissioner for Information and Strategy, Gbenga Omotoso on Friday.
“The Governor signed the “bill for a law to impose and charge VAT on certain goods and services” at about 11. 45am today, after returning from an official trip to Abuja.
“By this act, the Bill has now become a Law.,” the statement read.
Recalled that the State’s House of Assembly passed the VAT and Anti-Open Grazing bills yesterday after unanimous votes by the members and which the Speaker of the House, Rt(Hon) Mudashiru Obasa directed the Acting Clerk to transmit a clean copy to the governor for assent.
Lagos has become the second state to pass the VAT bill into law, with Rivers state as the first.
Governor Nyesom Wike signed the VAT Law No. 4 of 2021 on August 19, 2021.