The Executive Commissioner for Stakeholder Management at the Nigerian Communications Commission (NCC), Adeleke Adewolu has emphasized the detrimental impact of multiple taxes on Nigeria’s economic growth.
Adewolu expressed concern about the presence of numerous taxes, often referred to as “nuisance taxes” by the World Bank, which are hindering the country’s development.
Speaking during a regional stakeholders’ workshop in Ibadan, Oyo State, he raised the question of how taxation, intended to foster economic growth, has become an obstacle to development. Adewolu stressed that taxation is a crucial instrument for sustainable and equitable growth.
He pointed out that the National Tax Policy of 2017 underscores the importance of eradicating multiple taxations across all levels of government and ensuring that taxes similar to those collected by one level of government are not introduced by another.
Adewolu assured stakeholders that the NCC is dedicated to addressing the issue of multiple taxations, which impedes national progress. He highlighted collaborative efforts between federal, state, and local governments to harmonize tax policies and eliminate redundant taxes. The commitment of President Bola Tinubu in signing Executive Orders and establishing the Committee on Fiscal Policy and Tax Reforms was mentioned as a positive step toward creating a more favorable investment environment for both domestic and foreign investors.
