Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has described Nigeria as a poor country with significant potential for wealth.
During an interview on Channels Television’s Politics Today, Oyedele pointed out that both the Federal Government’s and states’ budgets are relatively small when compared to those of some other countries and cities.
The Federal Government has faced criticism for what some perceive as over-taxation, with recent tax law protests in Kenya reigniting these discussions among Nigerians. However, Oyedele dismissed the idea of introducing more taxes as a solution to Nigeria’s revenue challenges. He emphasized that increasing taxes would not effectively address the country’s financial issues.
He said;
“By the way, the entire budget, that’s the Federal Government’s of about N29 trillion plus all the states in Nigeria about N15 trillion – if you add it all, it comes to about N44 trillion. That’s around…
Source: Linda Ikeji
