Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigerians will pay more taxes.
She said this has been captured in the medium term as proposed in the Finance Bill 2021.
The minister disclosed this during a public hearing on the bill organised by the House of Representatives Committee on Finance.
She said and I quote, “While these issues may require modest increases in taxes and tariffs on certain businesses, sectors, industries and individuals over the medium term, this administration remains committed to continuous dialogue and engagement with all stakeholders and interest groups,” end of quote.
Mrs. Ahmed said Nigeria must diversify its revenues from oil to fund critical expenditures.
She said Nigeria also requires more fiscal reforms.
In his opening remark, the Speaker, Femi Gbajabiamila, who was represented by the Minority Leader, Ndudi Elumelu said the 2021 Finance Bill seeks to introduce strategic and broadminded, positive reforms that would engender best practice, statutorily check borrowing by local, states and federal governments.
