FG Clarifies Tax Plans as New Policy Direction Emerges

(Taiwo Oyedele. Photo by Premuim Times)

The Federal Government has clarified that it has no plans to increase taxes, stressing instead that Nigeria requires a larger pool of taxpayers.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made this known on Thursday while receiving a delegation from the Chartered Institute of Taxation of Nigeria, CITN, at his office in Abuja.

Oyedele commended the institute for introducing a National Tax Awareness Day and for its support of the Federal Government’s ongoing tax reforms.

He also charged the body to intensify its public enlightenment efforts, noting that many Nigerians continue to view taxation as a mechanism for the government to extract money from citizens rather than a civic obligation.

The minister reiterated that the government’s priority is not to raise tax rates but to widen the tax base by ensuring that all eligible taxpayers fulfil their obligations.

“We are still not getting enough revenue from taxes. It is not about increasing taxes but making sure that those who are supposed to pay tax pay.

We want to promote fairness in tax administration,” he said.