Governors and Stakeholders Advocate for Transparent Tax Systems

In the quest for sustainable economic growth, the governors of Lagos, Sokoto, and Borno States are championing the call for a transparent tax system. This push was highlighted at the 26th Annual Tax Conference by the Chartered Institute of Taxation of Nigeria, focusing on ‘Sustainable Tax Culture and Economic Roadmap for Nation Building’.

Governor Babajide Sanwo-Olu of Lagos State, represented by Mr Abdul-Kabir Ogungbo, emphasized the pivotal role of transparent tax administration in fostering confidence and voluntary compliance among taxpayers. He stressed the necessity for a shift in taxpayer mindset, emphasizing the role taxes play in nation-building and social welfare.

Echoing this sentiment, Governor Babagana Zulum of Borno State, represented by Deputy Umar Kadafur, pointed out inefficiencies and corruption within the current tax administration system. He called for critical reforms to address these issues and criticized the political protection of tax evaders.

Governor Ahmad Sokoto of Sokoto State highlighted the importance of exploring innovative revenue generation methods, given the economic challenges hindering the implementation of people-oriented programs. He affirmed taxation as a crucial resource mobilization avenue and pledged collaboration with CITN to enhance Internal Generated Revenue (IGR).

Former Governor Ibikunle Amosun of Ogun State stressed the imperative of prioritizing IGR growth over reliance on borrowing to fund budgets. He emphasized that borrowing amidst economic challenges isn’t sustainable, advocating for proactive revenue generation strategies.

Mr Samuel Agbeluyi, President of the CITN Council, underscored the significance of technology and human capital investment to track revenues effectively in the digital age, including cryptocurrencies, thereby optimizing government revenue streams.

The Presidential Fiscal Policy and Tax Reforms Committee reiterated its stance against proposing tax increases, emphasizing the need for innovative revenue generation rather than burdening taxpayers further.