Imbibing A New Tax Culture Will Significantly Change Nigeria’s Economy – President Buhari

Imbibing A New Tax Culture Will Significantly Change Nigeria’s Economy – President Buhari

President Buhari today in Abuja said the Federal Government will
continue to sensitize and encourage Nigerians to cultivate the culture
of paying taxes by ensuring fair implementation policy and effective
utilisation of resources.

The President, who received the leadership of the Chartered Institute
of Taxation of Nigeria (CITN) at the State House, said the National Tax
Policy document had been reviewed with the aim of institutionalizing a
tax payment culture within the Nigerian workforce.

President Buhari said the progress made in diversifying the economy,
providing social security and securing the country can be further
improved with enhanced and expanded revenue base.

“We have made some progress in the past four years. However, a lot
more can still be done. A key step is to enhance and expand Government’s
revenue base. Today, we still rely on oil as our main source of income.
This simply is not enough to meet our infrastructure, social services
and security needs,’’ he said.

Describing Nigerians as hardworking and entrepreneurial, the
President said a deeper understanding of the effectiveness of tax on the
economy by the populace and fair administration will help in improving
government’s revenue shortfalls.