Business
Wogu Advocates Increased Taxes On Luxury Goods, Lifestyle
The Minister of Labour and Productivity, Chief Emeka Wogu, has advocated an increase in taxes on ostentatious goods and lifestyle to raise funds for social security schemes, a statement said in Abuja.
The statement, issued on Monday, said Wogu made the remark at a symposium in Yaounde.
He explained that tax on such goods as golf and polo accessories, tobacco and champagne, among other ostentatious goods, could provide money for the provision of social services.
The minister said Nigeria and other African nations faced serious challenges in their effort to raise funds for the social security sector.
Wogu, who was the head of Nigeria’s delegation to the conference, noted that Africa’s growth potential could best be “harnessed from within”.