FG Rules Out New Tax Hike, Says Nigeria Needs More Taxpayers, Not Higher Taxes

The Federal Government has dismissed concerns about a possible increase in tax rates, insisting that its priority is to expand Nigeria’s tax base by bringing more eligible taxpayers into the system rather than imposing additional taxes.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, made the clarification on Thursday while receiving a delegation from the Chartered Institute of Taxation of Nigeria at his office in Abuja.

Oyedele commended the institute for introducing a National Tax Awareness Day and for supporting the Federal Government’s ongoing tax reform agenda aimed at improving revenue generation and strengthening the country’s tax administration.

He urged the institute to intensify public education on taxation, noting that many Nigerians still perceive taxes as a mechanism for government to take money from citizens rather than a civic responsibility that supports national development.

According to the minister, the government’s focus is not on raising tax rates but on ensuring fairness by bringing more eligible individuals and businesses into the tax net.

“We are still not getting enough revenue from taxes,” Oyedele said.

“It is not about increasing taxes but making sure that those who are supposed to pay tax pay. We want to promote fairness in tax administration.”

The minister’s remarks come amid ongoing efforts by the Federal Government to reform Nigeria’s tax system, improve compliance, and boost non-oil revenue without placing additional financial pressure on taxpayers who already meet their tax obligations.