Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, stated that expanding the tax base is the solution to Nigeria’s revenue issues, rather than raising tax rates.
During a visit by leaders from the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, Oyedele highlighted that many eligible citizens do not pay taxes due to common misconceptions regarding the nation’s tax reforms.
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He emphasized that the government aims not to raise taxes but to ensure that everyone obligated by law contributes while fostering fairness and transparency in tax administration.
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This visit coincided with the inaugural National Tax Awareness Day organized by CITN and marked one year since President Bola Tinubu enacted significant tax reform legislation in Nigeria.
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CITN President Innocent Ohagwa mentioned that the awareness campaign was intended to educate Nigerians about the reforms, pointing out that many taxpayers have misunderstandings about the changes, erroneously believing they were implemented solely to increase government revenue.
