FG set for new tax drive

New executive order will boost revenue generation – Presidency

*Wealthy Nigerians targetted

The Presidency has said it is finalizing arrangements to embark on an aggressive drive to widen the nation’s tax net to reduce the dependence of the economy on oil revenue.

Finance minister, Kemi Adeosun, speaking at a colloquium to mark the sixty fifth birthday of Asiwaju Bola Tinubu in Lagos, said the proposed tax drive will target several people, especially wealthy Nigerians, who she accused of developing a habit of not paying tax.

She explained that the ratio of Nigeria’s tax regime which she puts at Six percent, is one of the World’s lowest.

The minister recalled that when Tinubu as a Governor of Lagos state, started widening the tax net of the state, which then made him very unpopular.

Today, the minister said  the internally generated revenue of Lagos state is largely financing its ambitious infrastructural projects.

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