Nigeria to generate more revenues from taxes –Adeosun Featured

Written by  May 11, 2018

The Minister of Finance, Mrs. Kemi Adeosun, disclosed yesterday that the Federal Government would mobilise more revenues to drive its growth plan for the economy.The Minister made this known in Abuja at a meeting with a World Bank Mission of 10 Executive Directors led by Mr. Patrizio Pagano.

She stated that the government would accelerate Nigeria’s growth level and also improve the Ease of Doing Business.

“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 infrastructural development. We are very optimistic but we will remain vigilant,” Adeosun said.  The Minister revealed that the country’s taxpayers’ base had risen from 14 million in 2016 to 19 million in 2018, grossing additional five million taxpayers into the system.

“By 2019, the growth will be stronger than the present level in 2018. We are optimistic in sustaining Nigeria’s economic growth. That is why we are driving the mobilisation of more revenues.

“We have been able to grow the taxpayers’ base to 19 million in two years from the 65 million economically active people who are not tax compliant,” she added.

The leader of the World Bank Mission to Nigeria, Patrizio Pagano, explained that the team was in the country to acquaint itself of 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.

The World Bank officials had earlier met with the Organised Private Sector (OPS)in Lagos and undertaken a tour of LAPO Microfinance projects in Lagos.

 The 10 World Bank Executive Directors, representing 96 countries, are expected to inspect the Azura Power Plant in Edo State in the course of their three-day visit to Nigeria.

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