American billionaire and a co-founder of Microsoft, Mr. Bill Gates has said that Nigeria\u2019s current tax collection rate is relatively low, and called for a change if the country is to achieve its development goals.
\nSpeaking at the Pan-African Youth Dialogue on Nutrition in Abuja, Bill Gates, stressed the need for improved tax collection in Nigeria.
\nGates, who was in Nigeria to discuss solutions to various development challenges, emphasized that the country\u2019s low tax collection poses a significant challenge to adequately financing critical sectors such as health and education. <\/p>\n
Gates\u2019 remarks came on the heels of a proposal by the Presidential Fiscal Policy and Tax Reforms Committee to increase value-added tax from 7.5% to 10%.
\nTaiwo Oyedele, Chairman of the committee, has said that this increase is necessary to address significant issues in Nigeria\u2019s tax revenue and overall fiscal system.
\nOyedele noted that the committee\u2019s mandate includes reviewing governance structures, including borrowing and coordination within the federal government and across sub-national entities. He emphasized that Nigeria\u2019s fiscal system is in crisis, and that urgent action is needed to address these challenges.
\n Gates, in his speech, emphasized the importance of citizens having confidence in the government\u2019s ability to deliver quality healthcare, and noted that this confidence can only be built if there is a commitment to ensuring that health programs are well-funded and efficiently managed.
\n His visit to Nigeria aimed to facilitate discussions on solutions to various development challenges, including health, agriculture, poverty, and nutrition. He met with Nigerian government officials, youth, and partners to explore ways to address these challenges and improve the lives of Nigerians. <\/p>\n
Gates emphasized that improving tax collection is crucial for financing critical sectors such as healthcare and education. He noted that well-managed health programs can only be built if citizens have confidence in the government\u2019s ability to deliver quality healthcare. His advocacy for improved tax collection in Nigeria highlights the importance of fiscal sustainability in achieving development goals. As Nigeria continues to grapple with challenges in its fiscal system, it is crucial that policymakers take urgent action to address these issues and ensure that the country\u2019s resources are used effectively to benefit its citizens.<\/p>\n","protected":false},"excerpt":{"rendered":"
American billionaire and a co-founder of Microsoft, Mr. Bill Gates has said that Nigeria\u2019s current tax collection rate is relatively low, and called for a change if the country is to achieve its development goals. Speaking at the Pan-African Youth Dialogue on Nutrition in Abuja, Bill Gates, stressed the need for improved tax collection in […]<\/p>\n","protected":false},"author":2,"featured_media":5139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=6110"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6110\/revisions"}],"predecessor-version":[{"id":6111,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6110\/revisions\/6111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media\/5139"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=6110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=6110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=6110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}