Oyedele Says Nigeria Needs More Taxpayers, Not Higher Taxes

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says Nigeria’s tax reform push is aimed at expanding the tax net rather than raising tax rates.

He made the remarks while receiving a delegation from the Chartered Institute of Taxation of Nigeria in Abuja.

Vanguard reported that Oyedele said Nigeria would record stronger development if the country gets its tax system right.

Punch framed the minister’s message as a call for more taxpayers, not higher taxes, to improve revenue and compliance.

Daily Post also reported the federal government’s clarification that the reform is not designed to increase taxes.

Oyedele said the government wants a fairer system in which people and businesses that should pay taxes are brought into the formal tax base.

The tax reform debate has become a major economic issue as the federal government seeks higher revenue without putting additional pressure on compliant taxpayers.

Sources: Vanguard; Punch; Daily Post