From Juliana Taiwo-Obalonye, Abuja
In a meeting with tax professionals and leaders in the capital market at the Presidential Villa, Vice President Kashim Shettima stressed government’s commitment to enhancing tax collection efficiency without increasing the burden on Nigerians.
According to a statement issued by his media aide, Stanley Nwokocha, he said the focus is on revamping the tax system to combat illegal tax collection by non-state actors across the country.
The VP highlighted the administration’s goal of improving tax collection efficiency rather than imposing additional burdens on citizens.
He stressed the importance of collaborating with the Chartered Institute of Taxation of Nigeria (CITN) to adopt global best practices and eliminate fictitious taxes that do not benefit the government.
Furthermore, Shettima urged leaders in the capital market to attract more youths by restructuring the system and implementing measures to prevent unethical practices.
He expressed the need for innovative strategies to engage young people and harness the sector’s potential for economic growth.
The CITN President, Samuel Agbeluyi, commended the government’s initiatives and pledged to support the development of a fair and transparent tax system.
He said the institute aims to provide technical advice to enhance tax efficiency, promote business ease, and ensure prudent resource utilization.
Shettima also assured the Chartered Institute of Stockbrokers (CIS) of the administration’s backing in overhauling the market and encouraging youth participation.
He stressed the importance of a vibrant stock market for economic growth and called for stakeholders’ active involvement in market activities.
The CIS President, Oluropo Dada, lauded the government’s policies and urged Nigerians to cooperate for economic progress. He highlighted the administration’s achievements in key sectors and expressed confidence in meeting and exceeding public expectations.