Lagos State Governor, Babajide Sanwo-Olu, has urged the Nigerian government to expand the nation’s tax base by exploring innovative methods. Speaking at the 26th Annual Tax Conference organized by the Chartered Institute of Taxation of Nigeria in Abuja, Governor Sanwo-Olu emphasized the importance of making the tax system transparent and accountable to encourage voluntary compliance.
Represented by his aide on taxation and revenue, Abdul-Kabir Opeyemi Ogungbo, Sanwo-Olu highlighted the need to foster a business-friendly environment that supports economic growth. He praised recent efforts to streamline state-level taxes and integrate the growing remote workforce into the tax net as positive steps towards broadening the tax base.
“We need to explore innovative ways to expand the tax base while fostering a business environment that allows our economy to thrive,” he said. “The good news is that Nigeria is already taking positive steps in these directions.”
Sanwo-Olu stressed the necessity for citizens to see tangible benefits from their tax contributions, underscoring the critical role of taxes in funding public services and infrastructure development. He advised taxpayers to view tax payments as investments in Nigeria’s future rather than burdens.
“We must all understand the crucial role taxes play in building a better Nigeria for ourselves and for generations to come,” he stated.
The conference, themed “Sustainable Tax Culture and Economic Road Map for Nation Building,” focuses on creating a robust tax system that drives economic growth and development.
