FG TO QUADRUPLE GOVERNMENT INCOME WITHOUT RAISING TAXES, ACCORDING TO ADEDEJI, SA REVENUE

Tunji Wusu –

Zach Adedeji, a special adviser on revenue to President Bola Tinubu, has revealed that the administration intends to boost Nigeria’s revenue without raising taxes.

Adedeji also stated that the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service will be combined under Tinubu’s administration in order to collect more taxes.

Adedeji stated during a live interview with Channels TV’s “Politics Today” that the current administration needs to increase the country’s revenue not through taxation but by addressing irresponsibility in national spending and technologically monitoring revenue collection when agencies like FIRS and Nigerian customs are integrated. The nation’s annual revenue is currently less than N15 trillion.

“The law is very clear as to how to collect revenue,” says Adedeji. The Nigerian Constitution’s Section 162 makes it explicit that there must be a Federation Account, into which all government money must be sent.

“When we talk about harmonisation, we simply mean the integration of all collecting agencies so that we can track developments at NIMASA, NPA, NCC, Customs, and Federal Inland Revenue (Service) on a one platform.We’ll employ technology to stay informed about everything as it happens.

The “distortion we have in our economy” has been eliminated, he added, by eliminating the petrol subsidy and unifying foreign exchange rates. He predicted that Nigerians would soon start to experience the “windfall that I know will bring shared prosperity for all Nigerians.”