- Speaker Abass highlights Nigeria’s low VAT collection efficiency in Africa
- Low tax revenue and dependency on oil revenue pose risks to Nigeria’s fiscal sustainability
- Urgent need for Nigeria to diversify revenue base and enhance fiscal management
- Legislative role in shaping economic transformation and development
- Concerns raised about Nigeria’s dependence on volatile oil revenue
- Potential reasons for low VAT collection include informal sector, weak tax administration, and tax evasion
- Consequences of low VAT collection limit government’s ability to fund critical public services
Source: ripplesnigeria.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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