The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms in Nigeria, Taiwo Oyedele, has said that personal income tax revenue amounted to just N1.5trn, despite declared incomes totalling N15trn by Nigerians in 2023.
He said this Wednesday in Abuja at the two-day 2024 National Tax Conference organised by the Tax Justice and Government Platform comprising the Civil Society Legislative Advocacy Centre (CISLAC), ActionAid Nigeria (AAN), Oxfam in Nigeria, Centre for Democracy and Development (CDD), Christian Aid, International Budget Partnership and the NLC.
Daily Trust reports that the tax reform bills have generated heated debate and divisions across the country, with the majority of the push-backs coming from the North.
Many governors and some leaders from the North contested that the tax reform bills, (which also led to open confrontations in both chambers of the National Assembly), are meant to favour Lagos State and other narrow interests, as well as shortchange the North.
Oyedele noted that the country is only collecting about 30% of its potential tax revenue, despite efforts to address the challenge.
