FG dismisses tax hike reports, says focus is on expanding tax base

The Federal Government has dismissed reports suggesting it plans to increase taxes, insisting that its priority is expanding the country’s tax base by bringing more eligible Nigerians into the tax net rather than raising tax rates.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this 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 supporting the Federal Government’s ongoing tax reform agenda.

He urged the institute to intensify public enlightenment campaigns, noting that many Nigerians still perceive taxation as a mechanism for the government to take money from citizens instead of a civic responsibility that supports national development.

According to the minister, the government’s objective is to improve tax compliance by ensuring that individuals and businesses that are legally required to pay taxes fulfil their obligations.

“We are still not getting enough revenue from taxes,” Oyedele said.

“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 stressed that broadening the tax base would improve government revenue while ensuring a more equitable tax system, rather than placing additional tax burdens on compliant taxpayers.