RIPPLES
The National Bureau of Statistics (NBS) has revealed in its ‘Tax-to-GDP Ratio Revised Computation (2010-2021)’ report that Nigeria’s tax revenue to gross domestic product (GDP) is 10.86%.
In a publication on its website recently, NBS revised its initial tax-to-GDP ratio of 6% to 10.86%, stating that its findings have been updated after more information was obtained from some agencies of government.
NBS said it collaborated with the Federal Inland Revenue Service (FIRS), Joint Tax Board (JTB), Nigeria Customs Service (NCS), and the Accountant General of the Federation (OAGF), amongst other government agencies in charge of revenue collection.
Despite the increase after review, the 10.86% tax-to-GDP ratio was still below the recommendation of the World Bank, which suggests a country should have at least 15%…
