Lagos - Although the government plans to generate much money
by making more people pay tax, it has no plans to raise tax.
Mr. Udoma Udo Udoma, the Minister of Budget and National
Planning, made the clarification at a public hearing of the Joint Session of
the National Assembly on the 2017 Budget.
“There is no increase in VAT, there is no increase in
company income tax, there is no increase at all in taxes, but people who are
not paying taxes must be made to pay,” the minister told the joint session
during the hearing.
Speculations had been rife that government plans to increase
taxes, a development analysts believe would further worsen the economic
fortunes of individuals and businesses.
Speaking on the Economic Recovery and Growth Plan, Udoma
said government consulted with the private sector extensively on the
development of the plan.
Also see: WATCH: Harrysong celebrates victory as he pops N300k Champagne after police arrest
According to him, government has a clear vision and is on a
determined path to get the economy out of recession.
“We are determined, thereafter, to begin to go back to the
path of growth, a more diversified growth, not depending just on crude oil.
“We want to stimulate our manufacturing sector; we want to
stimulate agriculture; so we have a coherent, cohesive plan.”
The Minister of State, Mrs Zainab Ahmed, said government was
determined to ensure that Nigerians experienced inclusive growth.
Ahmed said the government had been implementing Social
Intervention Programme (SIP) to spur inclusive growth.
“The SIP took off fully in October 2016 and all the four
components of the SIP have now been rolled out in their first Phases and we are
scaling up on a monthly basis.” she said.For
the latest on national news, politics, sport, entertainment and more follow us
on Twitter and like our Facebook page.
- News24 Nigeria