The Special Adviser to President Bola Tinubu on Revenue, Mr. Zach Adedeji, says the government will double the country’s total annual revenue which is currently below N15trn, by deepening the nation’s revenue collection system and not by imposing extra taxes.
Speaking on Channels Television’s Politics Today programme on Monday, Mr. Adedeji also said the Federal Government will harmonise all revenue-collecting agencies.
According to him, Nigeria has a revenue problem, but the current administration is prepared to tackle the challenge through fiscal discipline and harmonisation of revenue channels using technology to view all government revenue-collecting agencies in realtime.
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Promising to formulate and implement sound economic policies and laws that will lead to prosperity for all, he added that most of the country’s tax laws are obsolete, noting that the recently established Presidential Committee on Fiscal Policy and Tax Reforms chaired by Taiwo Oyedele will review the existing laws on economy and taxation and come up with realistic laws in consonance with current economic realities.
While empathizing with Nigerians over the hardship brought on by the removal of petrol subsidy, the President’s revenue chief said the philosophy of the government is not to tax poverty and production, but prosperity and consumption.
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