Nigeria can get over $7.5bn annually from wealth tax — Oxfam

Oct. 15, 2024 - Punch Newspapers

The Country Director of Oxfam International in Nigeria, John Makina, has said that implementing a progressive wealth tax could enable Nigeria to generate over $7.5 billion annually.

He made this remark at the launch of two reports by Oxfam in Abuja on Tuesday, which spotlighted the growing wealth inequality in the country. He said, “Implementing a progressive wealth tax could generate over $7.

5bn annually. Oxfam’s new reports, Income and Wealth Inequality in Nigeria: Trends and Drivers and Taxing the Rich: Fair Tax Monitor, expose the deepening inequality in Nigeria.

Makina highlighted that the introduction of a progressive wealth tax could help address these issues, estimating that it could generate $7.5bn annually.

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