The Nigeria Governors’ Forum led by Governor Kayode Fayemi, has pledged to expand the country’s aggregate tax revenue by up to 200%. The governors said this during its second meeting of the year which was held on Wednesday in Abuja while deliberating on several matters of national importance.
They said members received a presentation from the Executive Chairman of the Federal Inland Service (FIRS) and Chairman of the Joint Tax Board (JTB), Mr. Muhammad M. Nami, on the national Data for Tax Initiative.
According to the governors, the Data for Tax (D4T) initiative envisages an ecosystem where financial and non-financial data on all individuals and economic transactions will be collated into a central National Tax Data Bank with the National Identification Number (NIN) as the primary unifying code.
“Members pledged their support for the project which is aimed at expanding the country’s tax net to at least 90% of all eligible taxable persons and committed to collaborating with the JTB to increase the country’s aggregate tax revenue by up to 200% as envisaged,” a communique released at the end of the meeting read in part.
They also deliberated on the establishment of farm settlement estates for groups of smallholder producers to increase the supply of farm inputs as well as access to produce at the markets.
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