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Finance: In Nigeria, 19 million citizens are now paying taxes

Finance: In Nigeria, 19 million citizens are now paying taxes



In Nigeria, 19 million citizens are now paying taxes

Kemi Adeosun, Nigeria's minister of finance stated this at a meeting with a World Bank Mission of 10 Executive Directors led by Patrizio Pagano in Abuja.

The Nigerian government has disclosed that 19 million citizens are now paying taxes from the 65 million economically active people who "are not tax compliant".

Kemi Adeosun, Nigeria's minister of finance at a meeting with a World Bank Mission of 10 Executive Directors led by Patrizio Pagano, said the country’s taxpayers’ base has risen from 14 million in 2016 to 19 million in 2018, an additional five million people.

She noted that the government would accelerate Nigeria’s growth level and also improve the ‘Ease of Doing Business’ in the country.

The Nigerian Government is working towards accelerating the country’s growth level. The growth will be underpinned by stimulating the ‘Ease of Doing Business’ in Nigeria and improving our capital expenditure which we have done in the last two years.

“Nigerians should trust the Government to deliver on its promises of improving the economy and providing sustainable infrastructure development. We are very optimistic but we will remain vigilant,” Adeosun said.

Patrizio Pagano, leader of the World Bank Mission to Nigeria, explained that the team was in the country to acquaint itself with the government’s growth and power priorities.

"We have met with several Nigerian entrepreneurs and have seen how vibrant the private sector is. We want to understand how the power sector is evolving in Nigeria,” Pagano said.

In the first quarter of 2018, the Federal Inland Revenue Service (FIRS) made a total of N1.7 trillion tax revenue.

The sum, tax service chairman, Tunde Fowler explained, was generated from the collection of different tax types within the period in the country.

Click here to read the full text by Aderemi Ojekunle

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