Samuel Agbeluyi, President of the Chartered Institute of Taxation of Nigeria (CITN), has called for a streamlined and efficient tax system to enhance Nigeria’s revenue. Speaking at CITN’s 31st Annual General Meeting in Lagos on June 5, 2024, Agbeluyi stressed the need for fewer but better-managed taxes to support public expenditure and improve infrastructure.
Agbeluyi highlighted Nigeria’s historical over-reliance on oil revenue and the necessity of diversifying the economy through robust taxation. He commended the current government for recognizing the importance of tax reform, noting President Tinubu’s commitment to reducing the number of taxes from 65 to 9 to eliminate multiple taxation and bring order to the tax ecosystem.
The CITN President emphasized that effective taxation is crucial not just for revenue but for improving citizens’ lives. He urged state governments to align with federal efforts, advocating for a tax system characterized by fewer, well-administered taxes capable of generating higher revenue.
Agbeluyi also acknowledged the contributions of CITN’s members in driving forward these innovations and reforms within the institute.
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