HOW NIGERIA CAN INCREASE IT’S REVENUE WITHOUT NEW TAX

Taiwo Oyedele, the head of Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee, asserted that the country can increase revenue substantially without enacting additional taxes.

In an interview on Channel Television’s “Politics Today,” he revealed this on Friday. He claims that in order to close Nigeria’s anticipated N20 trillion revenue shortfall, technology may be used to improve tax administration.

He underlined that his group had conducted a great deal of in-depth and comprehensive work, including extensive consultations with stakeholders in the primary sector, federal tax services, and governors. In response to a question on raising revenue without raising taxes, Oyedele showed hope.

He said, “Despite having over 60 different taxes and levies, we haven’t raised enough money
to properly fund
infrastructure like roads.”

“We support combining and harmonising current taxes rather than enacting new ones,” he continued.