• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Tuesday, October 7, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Taxation important to countries’ development

Tax

The Matters Press by The Matters Press
August 19, 2022
Reading Time: 2 mins read
0
2020 Finance Bill prescribes tax incentives

[ File # csp5324016, License # 2715984 ] Licensed through http://www.canstockphoto.com in accordance with the End User License Agreement (http://www.canstockphoto.com/legal.php) (c) Can Stock Photo Inc. / gunnar3000

The Chairman of Ondo State Internal Revenue Service (ODIRS), Mr Tolu Adegbie, says taxation is very important for the development of any country.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Adegbie, stated this in his lecture titled “Tax, The Future and You” ,at a programme organised by Elizade University Tax Club (EUTC), on Friday in Akure,

The Chairman, represented by Director, Personal Income Tax at ODIRS, Mr Segun Enikuomehin, said domestic revenue was required in any economy to provide public services.

He, who is also the patron of the club, said that taxation was relevant for the delivery of democratic dividends to the citizens.

“Taxation is sin qua non if any government is to get enough fund for delivery of dividends of democracy like provision of basic needs and infrastructural development.

“There is no doubt that efficient tax system enhances revenue generating potentials,” he said.

Adegbie, while speaking on developing am effective tax system as done by the service, said well-articulated tax restructuring, engagement of young and vibrant tax graduates and the use of technology could not be over emphasised.

“If we have to change the present narratives, we need a tax policy mix and design.

“In Ondo State, this ugly picture was about reading its ugly head in 2017 when our total tax collection was hovering around N10 billion annually.

“In 2018, the present administration took the bull by the horn and the narratives changed with the introduction of various measures as earlier highlighted.

“The resultant effect was a boost in the collection of revenue in ODIRS. Today, the collection has moved from 10b in 2017 to over N30 billion in 2021.

“Taxing right, tax types, number of taxes, rate of taxes and base of taxes will go a long way in shaping the success or failure of our dear future in the economic development of Nigeria,” he said.

The Special Adviser to Governor Oluwarotimi Akeredolu on Education, Dr Mrs Wunmi Egbayelo, in her lecture said Nigeria is a consumer nation, rather than a producing one and this and other factors had caused continuous economic crisis in the country.

In the lecture titled, “The role of Taxation in Resolving the Nigerian Economic Crisis,” Egbayelo stressed that taxation is one of the leeway for Nigeria to get out of her many economic crises.

She said that government at all levels could not generate enough revenue without proper taxation to fund its many expenditures, adding that it could be used as a control mechanism to shape the economy.

The Founder and Coordinator of the EUTC, Mrs Anthonia Oloko ,said the club had been engaging stakeholders within and outside Elizade University to create awareness about tax payment.

The ODIRS boss, some other dignitaries and members of the club were presented with awards of recognition.

Tags: Tax
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
Edo unveils plans for investment desks

BPE, group partner on investment opportunities in Nigeria

Sovereign investment authority records N160bn growth

Nigeria commends performance of sovereign investment

Recommended Stories

NBS reports increase in Inflation

Coronation Merchant Bank projects 22.2% rise in inflation

September 14, 2022
Obasanjo campaigns for AfCFTA

Why Nigeria must add value to its cashew nuts — Obasanjo

September 15, 2022
Nigeria gets AfDB’s $14m as member of ATI

African Development Fund approves $4.3m grant to Somalia for Statistics Development

February 17, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us