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Finance minister recommends more taxes to reduce Nigeria’s debt burden


The Federal Government and tax experts have insisted there is a need to bring more Nigerians under the tax net, as federal and state governments struggle to finance budgetary provisions.

 

This came amid calls for transparent and judicious use of taxes, at a time the country is wallowing in debt, harsh operating environment for taxpayers and corruption in government.

 

Speaking at the yearly conference of the Chartered Institute of Taxation of Nigeria, Minister of Finance, Budget and National Planning, Zainab Ahmed, said Nigeria’s low revenue in Gross Domestic Product (GDP) and tax ratio to GDP remains worrisome.

 

Represented by her assistant, Ahmed Bashir, the minister said effort to bring more businesses into the tax base is sacrosanct. 

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