The Federal Government has officially dismissed reports suggesting a rise in tax rates. Instead, officials emphasize that the primary objective is to register a higher volume of taxpayers to bolster revenue.
Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, addressed this issue on Thursday while hosting a group from the Chartered Institute of Taxation of Nigeria (CITN) in Abuja. During the meeting, Oyedele praised the institute for launching a National Tax Awareness Day and backing current government reform initiatives.
The minister urged the organization to intensify its public education campaigns. He noted that a significant portion of the population continues to perceive taxation as an extractive measure rather than a civic duty. Oyedele clarified that the government’s strategy focuses on expanding the current tax base through mandatory compliance rather than elevating existing rates. He concluded by asserting that the administration aims to foster a more equitable and fair tax administration system.
