NIGERIA NEEDS MORE TAXPAYERS, NOT HIGHER TAXES - FINANCE MINISTER OYEDELE

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria’s revenue challenge can be solved by expanding the tax net rather than increasing tax rates.

Speaking in Abuja during a courtesy visit by the leadership of the Chartered Institute of Taxation of Nigeria (CITN), Oyedele said many eligible Nigerians still do not pay taxes due to widespread misconceptions about the country’s tax reforms.

According to him, the government’s goal is not to impose higher taxes but to ensure that everyone who is legally required to pay taxes does so, while promoting fairness and transparency in tax administration.

The visit marked the first National Tax Awareness Day organised by CITN and coincided with one year since President Bola Tinubu signed Nigeria’s landmark tax reform laws.

CITN President, Innocent Ohagwa, said the awareness campaign was designed to educate Nigerians on the reforms, noting that many taxpayers still misunderstand the changes and wrongly believe they were introduced solely to generate more government revenue.

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