The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr Babatunde Fowler, has reiterated the call on eligible citizens to ensure adequate payment of tax to the government for enhanced revenue generation.
Fowler gave the advice during the 6th Edition of the Nigerian Youth Leadership Summit themed ‘Mentoring and Building Leadership Capacity for Good Governance’ in Abuja.
Represented by Mr Ahmed Buba, FIRS Deputy Director Training, Fowler said that taxation was a social contract between the government and taxpayers where citizens played significant roles in raising revenue for the government.
“By paying taxes, the government will similarly have a strong motivation to account for revenues collected and utilization of such revenues.
“Voluntary compliance by the taxpayer will ensure that revenue is made available for improving on the provision of social amenities and services,” he said.
According to him, while the amount generated may be significant, it was grossly inadequate to tackle infrastructural and technological needs of the country.
He said that the amount was inadequate when compared to the amount actually needed for government development.
Fowler said that he was glad the non-oil sector of the economy made up 53.62 per cent of the 5.3 trillion generated in 2018.
“In the past, it used to be more money coming from the oil sector but today we are happy to say we have more money coming from the non-oil sector of the economy.
“This is a reflection of the efforts of the government to reduce oil dependency,” he said.
Dele Omoyeni, Convener of the event said that the aim of the summit was to examine the effect and importance of being mentored in order to effectively lead.
The Nigerian Youth Leadership Summit is an initiative that takes place once every year and had been in existence since 2014.