Nigeria Government Set To Hike Taxes After Crude Oil Price Drops

Following the downward slide of the main source of Nigeria's income, the price of crude oil on the international market, the federal government on Thursday disclosed that it had mapped out strategies to increase
taxes and other internally generated revenues (IGR) in the country.
Deputy Governor of Lagos state, Victoria Adejoke Orelope-Adefulire, stated this when she briefed State House correspondents after the National Economic Council (NEC) meeting held at the Presidential Villa.

The NEC called for a review of the proposed amendment to the Act on the harmonisation of taxes and levies across the federation.
She added that the measure was announced by the Minister of Finance, Dr. Ngozi Okonjo-Iweala.