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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged Nigerians to pay their taxes to put more money government’s coffers for the implementation of crucial developmental programmes and social services.
He made this known while speaking at the maiden edition of the Abuja Business and Investment Summit organised by the Abuja Investment Company Limited in the nation's capital on Wednesday, October 16, 2024.
The former Rivers State Governor noted that the event theme, ‘Optimising Investment Through Partnerships’, aligned with the Federal Government’s drive to deploy the power of collaboration to foster investment opportunities.
He also dispelled the notion that the government doesn't need money, describing it as incorrect and misleading.
Wike asks Nigerians to be tax compliant
Wike cited instances when the government's partnership with the private sector had gone sour, saying the government would discontinue billions of naira in investments and land allocation to investors who can't guarantee a return on investment.
“These are the kinds of things the government looks into and say how can I bring in the money and the land and at the end of the day, the government will not make a dime?
“When people say the government is not to make money, who told you that? If government is not to make money, how do we have money to provide services? The government needs money.
“That’s why the government say pay your tax; it’s very important. And so, while we provide the enabling environment, we also believe that we have to encourage you (investors) so that you get what you are supposed to get and the government gets what it is supposed to get. That way, everybody will go home smiling,” the FCT minister said.
Wike's comments followed the Federal Government’s move to reorganise the nation's tax system by seeking to impose a 25% effective tax rate on rich Nigerians earning ₦100 million and above monthly within the country.