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40 out of 70 million taxable adults pay taxes in Nigeria – Adeosun

Out of 70 million taxable adults in Nigeria, only 40 million of them pay taxes, the Minister of Finance, Mrs. Kemi Adeosun has said.

She spoke at the first annual lecture of the Lagos State Professorial Chair of Tax and Fiscal Matters held at the Ade-Ajayi Auditorium of the University of Lagos.

Mrs Adeosun who chaired the lecture, said about 13 per cent of the active tax payers have their taxes deducted at source under the Pay as You Earn (PAYE) category.

She said tax policies cannot be rigid and needed regular reviews so that many more of the 30 million defaulters pay their taxes.

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About Olaniyi Apanpa (311 Articles)
Olaniyi Apanpa is a media practitioner and sports enthusiast. Contact at greenballmedia51@gmail.com

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