"We plan to grow revenue by collecting new taxes, moduling the tax base and enabling strategic investment that will spur economic growth," she said.
Zainab Ahmed, Nigeria’s Minister of Finance, has told lawmakers that the government has finalised plans to introduce new taxes.
The Minister made the disclosure on Wednesday, when she spoke at the public hearing on the 2019 budget organised by the Senate and House of Representatives committees on appropriation.
She said the scheme is separated into three thematic areas and appealed for the support of the National Assembly.
She said: “The first area is sustainability in revenue generation. The focus of this is for us to build a sustainable revenue generation ecosystem by ensuring resilience and applying automising revenue streams, applying the right incentives, the right safeguards, as well as ensuring accountability and performance management systems.
“The second thematic area is to identify new and enhance the enforcement of existing revenues streams. We plan to grow revenue by collecting new taxes, moduling the tax base and enabling strategic investment that will spur economic growth. In this area, we have identified some new taxes that we’ll be coming to discuss with the National Assembly.
“We’ve also continuously been working to broaden the tax base to expand and improve the value added tax performance, while the third thematic area is achieving cohesion in the revenue ecosystem.”
Ahmed added that the government "will be working with the National Assembly to amend some laws, and we might be using some executive orders”.