Business Post reports that some Nigerians still find it difficult to pay tax to government because of issue of transparency on the part of government. Citizens provide virtually every basis things for themselves, including water, electricity, shelter, food, sometimes roads and others.

Truth234:
Still below the 15% target

Bifwoli:
Tax revenues of only 7% of GDP is shamefully low especially in a country with a giant population and so many needs for improved facilities and services.

Truth234:
Still way below the 15% target. Despite all the noise about improved revenue generation policy and the surge in customs revenue in 2018, the administration only recorded 1 percent increase in revenue from the old 6 percent. The 7 percent is even lower than the old 6 percent when the economy was growing at 7 percent (GDP $523 billion).

It is impossible to up revenue to GDP ratio when earnings are poor, unemployment jumped to 23.1 percent, interest rate remained unchanged at 14 percent, youth unemployment and underemployment (55.4%) higher than national average of 43.3 percent.

It is practically impossible to improve revenue when the economy is now growing at 1.81 percent, down from an average of 6-7 percent. Affordable loans will stimulate growth and enhance economic productivity.

In fact, in the 2019 proposed budget, non-oil revenue is expected to tick up by just 0.1 percent from the 2018, yet recurrent expenditure will account for 71.3 percent of the budget, 18.1 percent higher than 2018. Still, revenue generation is not reflecting those spendings.

Until local players are empowered and supported to create jobs and compete effectively, we won't grow our earnings. Damn inflation, knock down the high interest rate and create massive jobs, enhance wage growth and consumer spending, but no, the CBN knows we are nothing without foreign capital inflow, hence, the high interest rate to lure foreign investors at the expense of real growth. The whole policy is just wrong!

Truth234:
Still way below the 15% target. Despite all the noise about improved revenue generation policy and the surge in customs revenue in 2018, the administration only recorded 1 percent increase in revenue from the old 6 percent. The 7 percent is even lower than the old 6 percent when the economy was growing at 7 percent (GDP $523 billion).

It is impossible to up revenue to GDP ratio when earnings are poor, unemployment jumped to 23.1 percent, interest rate remained unchanged at 14 percent, youth unemployment and underemployment (55.4%) higher than national average of 43.3 percent.

It is practically impossible to improve revenue when the economy is now growing at 1.81 percent, down from an average of 6-7 percent. Affordable loans will stimulate growth and enhance economic productivity.

In fact, in the 2019 proposed budget, non-oil revenue is expected to tick up by just 0.1 percent from the 2018, yet recurrent expenditure will account for 71.3 percent of the budget, 18.1 percent higher than 2018. Still, revenue generation is not reflecting those spendings.

Until local players are empowered and supported to create jobs and compete effectively, we won't grow our earnings. Damn inflation, knock down the high interest rate and create massive jobs, enhance wage growth and consumer spending, but no, the CBN knows we are nothing without foreign capital inflow, hence, the high interest rate to lure foreign investors at the expense of real growth. The whole policy is just wrong!

Stalwert:


The main issue is Nigeria's economy is largely INFORMAL hence many people are not captured in the tax net not this story you are saying.