By Chineme Okafor in Abuja
The Vice-President, Prof. Yemi Osinbajo, on Monday stated that Nigeria’s recent exit from the economic recession she got into in 2015 was timely, and that it could have been disastrous if she didn’t get out of it now.
Osinbajo also stated that rich Nigerians and top companies who hitherto were not paying to the government commensurate tax returns on their assets and incomes were now strongly responding to its Voluntary Assets and Income Declaration Scheme (VAIDS).
Speaking when he declared open a two-day national workshop on alternative sources of revenue for sustainable development organised by the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC) in Abuja, the vice-president explained that the government had within the period of the country’s economic recession, built fiscal foundations that would ensure an accelerated economic growth for the country going forward.
Osinbajo, who was represented by the Minister of Finance, Mrs. Kemi Adeosun, at the meeting, also called on states and local governments in the country to imbibe accountable revenue collection and management processes to engender improved tax revenue collection from within their territories.
“This economy has shown resilience to ensure that the recession we entered into wasn’t a prolonged one, and we thank the Nigerian people for ensuring it wasn’t a prolonged recession which would have been very disastrous for us,†said Osinbajo.
Details later…
