Executive Summary
Vice President Yemi Osinbajo opened the 2018 Chartered Institute of Taxation of Nigeria (CITN) conference, announcing that Nigeria's tax net had expanded from 14 million in May 2017 to over 19 million taxpayers. Osinbajo emphasized the importance of tax compliance for good governance and accountability, highlighting that citizens are more likely to hold their governments accountable when they pay taxes. He noted the historical significance of tax revolts in Nigeria and the U.S., underscoring the link between taxation and representation. Osinbajo also mentioned the government's efforts to improve tax management, reduce corruption, and enhance transparency through initiatives like the TSA and IPPIS, which have resulted in significant savings.
- Nigeria's tax base expands to 19 million, potentially boosting government revenue and citizen accountability.
What Is Driving The Story?
- Government efforts to improve tax management.
- Increased awareness of the importance of tax compliance.