FG: No Plan to Hike Taxes, Focus Is on Widening Tax Net

The Federal Government says it has no plans to raise taxes, insisting its priority is to bring more eligible Nigerians into the tax net rather than increase existing rates.

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

Oyedele commended CITN for introducing a National Tax Awareness Day and for backing the Federal Government’s ongoing tax reform programme, which targets better tax administration and improved revenue collection.

He urged the institute to intensify public education on taxation, noting that many Nigerians still see taxes only as government taking money from citizens. There needs to be clearer understanding of why taxes are paid and what benefits they fund, he said.

According to the minister, government’s goal is not to impose new financial burdens through higher rates. The focus, he said, is on compliance — ensuring everyone legally required to pay taxes does so.

Increasing compliance, Oyedele argued, would create a fairer system where responsibility is shared by all eligible taxpayers, not just a few.

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