As part of efforts to tackle revenue change in the country, the Debt Management Office (DMO) has called for the operation of an efficient and effective tax administration in Nigeria
Director-General of the agency, Ms Patience Oniha, who made the call in a statement made available to journalists, stressed on the need for Nigeria to operate such efficient tax administration system, that will tackle loopholes in revenue generation of the country.
According to her, a lot of loopholes are noticeable in the current tax system, which has given room for evasions and all sorts of sharp practices, causing hiccups in the public revenue management system.
She said revenue challenge remains one of the most critical policy issues of the Federal Government which is currently threatening the nation’s debt sustainability.
“The country needs to operate an efficient tax administration that would ensure greater compliance to remittances devoid of all forms of evasions in the system,” she said.
Recall that the current revenue problem is compounded by leakages such as an increase in oil theft and petrol subsidy, both of which have significantly reduced the revenue from oil sales that used to account for the bulk of government revenue.
Oniha noted that the outlook of both the local and international markets was becoming tighter with rising interest rate.
The DMO boss, therefore, stressed the need for the country to urgently moderate its new borrowings and ensure that public debt is sustained by accelerating its revenue base to shore up non-oil revenue and rationalising expenditure of the nation.

By: Corlins Walter