FG goes after billionaires, millionaires over tax evasion

The federal government has resolved to go after tax evaders in Nigeria, the Minister of Finance, Mrs. Kemi Adeosun, disclosed on Tuesday. Adeosun, who spoke in Lagos, during a colloquium to mark the 65th birthday anniversary of former Lagos State governor, Asiwaju Bola Tinubu, also said a new tax regime was on the way. According to her, one of the strategies the administration of President Muhammadu Buhari intends to use in boosting the country’s revenue is through tax mobilisation. “It is a pity that Nigeria has one of the lowest tax regime ratio globally at six percent. “The only country that is lower than us is Oman. We have so many wealthy entrepreneurs, who have managed to develop habit of not paying tax, we need to correct that.” She recalled that “when the administration of Tinubu, as Lagos State governor, introduced a new tax regime, he became unpopular, but, today, when we see the infrastructure, I don’t think anyone will blame him for his action. “I take this opportunity to reach out to the millionaires and billionaires that you will hear from me, soon. It is a shame that we are one of the largest owners of crude oil, but, we cannot enjoy the revenue from it. “Oil has proven that it would be an unreliable source of revenue. The price is unstable…”