Day: September 7, 2019

Nigeria: Why is it struggling to meet its tax targets?

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Nigeria could be facing a fiscal crisis if it doesn't improve its ability to collect taxes, the authorities have warned.
Government expenditure has doubled and debt servicing costs have grown, but revenues have missed their targets by at least 45% a year since 2015.
Despite that, the Nigerian president's office has praised the work of the national tax body, the Federal Inland Revenue Service (FIRS), for doubling the number of taxpayers since 2015.

Skip Twitter post by @NGRPresident

It is noteworthy and highly commendable that under this administration, the number of taxable adults has increased from 10 million to 20 million with concerted efforts still on-going to bring a lot more into the tax net. //
— Presidency Nigeria (@NGRPresident) August 19, 2019

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End of Twitter post by @NGRPresident

Some online users were quick to ask if that's true, why hasn't there been an equivalent increase in government revenue, and as a re..