Wale Edun, finance minister and coordinating minister of the economy, says Nigeria’s tax-to-GDP ratio is low because citizens are not...
, finance minister and coordinating minister of the economy, says Nigeria’s tax-to-gross domestic product ratio is low because citizens are not paying their taxes.
The flurry of reforms that has dotted the incumbent administration — especially on the monetary side — also stretched to fiscal matters of the government.was created in July 2023 — two months after President Bola Tinubu took over — to harmonise taxes and coordinate revenue collection. But speaking at the forum, Edun said at 10 percent, the contribution of tax to the country’s GDP is still low.
“As I explained before, it is digitisation, and application of technologies that will take us there more than before. For instance, using an efficient process for assessing, for billing, for collection for monitoring what comes in.“So, we are comfortable that we will be able to, over the next three, four years, double tax revenue as a percentage of GDP. It’s is very low, where it is now even by our African peers.
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