Federal Government Assures Nigerians: No New Taxes, Focus on Improving Tax Collection
Zacchaeus Adedeji, the special adviser to the president on revenue, reaffirmed the federal government’s commitment to not imposing additional taxes on Nigerians. Speaking at a media briefing held at the presidential villa in Abuja, Adedeji emphasized that the government’s primary objective is to enhance the collection of existing taxes rather than introduce new ones.
This announcement comes in the wake of President Bola Tinubu signing four executive orders, including the suspension of the 5% excise tax on telecommunication services and the escalation of excise duties on locally manufactured products. Adedeji clarified that these executive orders do not impact petroleum tax or involve the introduction of new taxes.
In his statement, Adedeji highlighted the government’s focus on streamlining tax collection processes and making them more business-friendly. The administration aims to stimulate productive activities, increase production capacity, and subsequently levy taxes on consumption rather than burdening the citizens with taxes on poverty or production. This approach aligns with the government’s economic planning, which aims to foster growth while instilling trust in the government’s management of resources.
Furthermore, Adedeji outlined a comprehensive plan to improve tax collection management and compliance. The government’s goal is to optimize the utilization of existing resources through efficient collection practices, without burdening the public with additional taxes. Adedeji emphasized President’s commitment to fulfilling these promises and ensuring their realization for the benefit of the country.
With this assurance from the federal government, Nigerians can expect a focus on enhancing tax collection methods and promoting a business-friendly environment, rather than facing the imposition of new taxes. The government aims to foster economic growth and build trust among its citizens by managing resources effectively and prioritizing the interests of the nation.
