Nigerians wey dey work as market traders or informal business go dey targeted to pay Tax (VAT).

July 5, 2023

Na as much as 40 million people dey fall into dis category, according to Nigeria federal tax agency and the Market Traders Association (Matan), wey both of dem talk say dem want to expand di country tax net.

Under di plan, market traders go get digital ID with unique tax identification number (TIN), wey go dey track their turnover and remittances to Nigeria federal revenue service.

The agency talk say just over 10% of Nigeria government revenue dey come from taxes, and na one of di lowest proportions for di world, as most of the revenue dey come from crude oil sales.

For di last 30 days, Nigeria, wey be Africa largest economy, don start series of economic and fiscal reforms, wey President Bola Tinubu new administration dey hope say go fit help di country come out from di current economic crisis wey dey marked by high inflation, high cost of living, and dwindling government revenues.