Tax experts want Nigeria to expand collections into interior parts as Lagos contributed 70% to country's revenue

Audience at the 2019 tax conference of the Chartered Institute of Taxation of Nigeria (CITN) (Twitter/CITN events)
  • Tax experts urge the government to pay attention to other parts of the country in order to broaden the nation’s tax base.
  • This is coming as Justina Okoror, the outgoing chairperson of the Society of Women in Taxation (SWIT), explains that 70% of the tax revenue generated by the country in 2018 was contributed by Lagos alone.
  • Nigeria is facing a huge fiscal challenge to meet up with infrastructural decay and rising debt level.

Tax experts have called on the Nigerian authorities to widen the country's tax collections across the country.

They made this known at the 2019 tax conference of the Chartered Institute of Taxation of Nigeria (CITN), according to a report by Guardian Nigeria.

According to the report, Justina Okoror, the outgoing chairperson of the Society of Women in Taxation (SWIT), explained that 70% of the tax revenue generated by the country in 2018 was contributed by Lagos alone.

Okoror urged the government to pay attention to other interior parts in order to broaden the nation’s tax base and increase the number of people in the tax pool.

It is worrisome that 35 states and the FCT contributed a paltry 30 per cent of the total,” the news platform quoted her.

Kudirat Abdulhamid, another tax expert and the new National Chairperson of SWIT, also queried the nation's debt at an alarming rate when other potentials are not utilised.

I agree with people complaining over government borrowing, but if citizens pay taxes and it is judiciously utilised for the provision of this service, people will be eager to pay more. But when the government borrows money without providing infrastructures, citizens would become angry,” she said.

In 2018, the Federal Inland Revenue Service, FIRS, broke the country's tax collection history with a total collection of N5.32 trillion.

Giving a breakdown of the collection, Tunde Fowler, Executive Chairman, FIRS, said the oil component generated N2.467 trillion (46.38%), while the non-oil component is N2.852 trillion (53.62%).

The FIRS Chairman said the agency is targeting N8 trillion for 2019.

Nigeria is facing a huge fiscal challenge to meet up with infrastructural decay and rising debt level. To reduce its debt burden, the IMF has also advised it to increase its revenue sources.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Sh79,000 per month jobs for Kenyans without degrees

Sh79,000 per month jobs for Kenyans without degrees

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

5 things you should never do to please a woman

5 things you should never do to please a woman

British MP claims she didn't know her flat was owned by the Kenyatta family

British MP claims she didn't know her flat was owned by the Kenyatta family

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]