Residents have been reassured by Governor Seyi Makinde that his administration will not impose new taxes, citing the state’s more than six years without doing so.
In an interview with Channels TV, the governor clarified that his administration has instead concentrated on increasing the number of people who are subject to the current tax system.
He referred to the strategy as a “chicken-and-egg” situation, raising concerns about whether it is preferable to increase taxes first or foster an atmosphere that is favorable to economic expansion.
“You build a productive economy when you create a living environment that allows individuals and businesses to increase production.” You won’t be able to successfully increase revenue until then, according to Makinde.
The governor underlined that the administration’s top goal is to promote economic expansion in order to provide a stable and equitable tax system for the people of the state.
