We want to harmonize our taxes not impose new ones – FG

The Nigerian federal government has affirmed that it does not have any intentions to introduce additional taxes for its citizens. Zacchaeus Adedeji, the President’s special adviser on revenue, addressed this matter during a press briefing held at the state house. Adedeji clarified that their focus is solely on enhancing the tax collection process rather than imposing new taxes.

During the briefing, Adedeji responded to inquiries regarding a potential petroleum tax proposal. He explained that the current pricing structure for petroleum already accounts for it, and the suspension mentioned is unrelated to new taxes. He stated that the administration aims to streamline and improve the tax system to make it more business-friendly and aligned with President’s vision of boosting productivity. Their economic policy emphasizes avoiding taxing poverty and production, and instead, they seek to stimulate productive activities while taxing consumption.

“As you rightly said that there’s a plan or possibly proposal for petroleum tax, if you look at the current price templates, that has already been included, so this suspension has nothing to do with that. So the pricing structure that you have for PMS today, all those have been included, there’s no new taxes that we’re bringing in.

“Like my colleague has said, one of the key focus of this administration is to harmonise our taxes, the way we collect it.

“Mr. President actually wants to simplify and make it friendly to business, the way we operate taxes in Nigeria. As we know, when we talk about the revenue management, it’s not only in tax collection, the starting point is our economic policy because our aim is not to tax poverty.

“Our aim is not to tax production. Our aim is to increase our productive activities, capacity to produce, then we can tax our consumption and that is the direction of our economic planning and then we want to increase the trust that we have in the government.

“If you have observed what has happened in the last months that we’ve been here, we’ve kept our words, part of what we are doing today, just to increase this trust that we’re here to do what’s best for the country.

“Lastly, we have a robust plan to improve our collection management and compliance management because that is what is needed.

“So we’re not going to impose new taxes, it’s the one that we have that we’ll improve the collection, the management and the efficient use of those resources.

“That is the pledge and promise of Mr. President, which we’re here to make sure comes to reality.”