Africa’s richest man, Aliko Dangote, has said that the federal government takes 52% tax on every N1 his company earn in profit in the country, highlighting the challenges of entrepreneurship in Africa.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that approximately 90% of the tax revenue deposited into the government treasury originates from just nine tax heads.
Mr. Olatunde Amolegbe has urged the Federal Government to actively promote listings on the nation's bourse, aiming to enhance capital market participation and bolster tax revenue generation.
Mr. Bode Agusto has weighed in on the tax evasion and default in payment, according to him, 200,000 wealthy Nigerians are the biggest tax evaders in the country.
A memo, purportedly written from the office of the Chief of Staff to the President Abba Kyari to the Chairman of the FIRS, Babatunde Fowler circulated around social media on Sunday.
Nigeria's IGR increased by N1 trillion up from N2.9 trillion realised last year.
