How Nigeria can tackle revenue challenge - Think tank

But proffering solutions that could boost revenue, the Waziri Adio-led Agora Policy urged the government to undertake petroleum sector reforms to end petrol subsidy and check oil theft.

Others include ensuring greater compliance in remittances by revenue-generation agencies; further diversifying revenue sources for the government; increasing the tax base and improving the efficiency of tax collection; raising tax rates on luxury/’sin’ items and VAT and selling and concessions some government assets.

In tackling the negative impact on Nigeria’s productivity, investment and human welfare, the report recommends prioritising and finetuning job creation strategies, with a special focus on the SMEs; Scale up investment in education, especially technical and vocational skills training and expanding investment in critical infrastructure, including through public private partnerships.

Others are increasing coordination across tiers of government on poverty alleviation programmes; diversifying export base, especially agro-processing and light manufacturing; conducting a comprehensive review of Nigeria’s trade policy framework and replacing distortionary and inefficient non-tariff measures with import duties.

Produced with the support of the MacArthur Foundation, the report is the first of four policy papers commissioned by Agora Policy to contribute to national debate before, during and after the 2023 elections in Nigeria.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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