Lagos State Governor Babajide Sanwo-Olu has called on governments to widen the tax net to include more micro, small, and medium enterprises (MSMEs) and high-net-worth individuals to tackle widespread evasion and increase revenue.
Speaking at the Chartered Institute of Taxation of Nigeria's annual conference, he highlighted a proposed tax reform that exempts employees earning under ₦800,000 annually, warning it could drive businesses and wealthy individuals underground.
Represented by his Special Adviser on Taxation, Sanwo-Olu urged state governments to lead the drive—updating laws, investing in data analytics, and leveraging technology—to ensure MSMEs and start-ups comply with tax obligations.
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He pointed to Lagos State's success, which saw internally generated revenue hit ₦1 trillion in 2024, as proof that digital reforms and a taxpayer-friendly system can significantly improve voluntary compliance.
Sanwo-Olu also praised initiatives like AI-powered chatbots, integrated data platforms, and the Lagos Revenue Portal for making tax payment more convenient. He stressed that similar strategies, combined with targeted support such as the ₦10 billion MSME fund with the Bank of Industry, are essential for Nigeria to reach its goal of a $1 trillion economy.
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