• About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, July 6, 2025
Daily Concord News
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

    Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

    Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

    Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

    Afreximbank Meetings:Nigeria Emerges As Pan-African Trade Power House As Wale Edun Charts Path To Economy Dominance

    Afreximbank Meetings:Nigeria Emerges As Pan-African Trade Power House As Wale Edun Charts Path To Economy Dominance

    Survey Report: Nigerians Say Security Has Greatly Improved on Kaduna–Abuja Expressway

    Group Calls For Whole Of Government Approach To Address Root Causes of Insecurity

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    Edun Delivers: FG Revenue Hits N6.9 Trillion in Four Months, Surges 40% Over 2024

    President Tinubu Launches 2,000 Tractors For Mechanised Farming

    President Tinubu Launches 2,000 Tractors For Mechanised Farming

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    Why Nigeria Must Manufacture Its Own Solar Panels

    Putting Nigeria First: NASENI Leads the Charge for Made-in-Nigeria Patronage

    Putting Nigeria First: NASENI Leads the Charge for Made-in-Nigeria Patronage

    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

    Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

    Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

    Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

    Afreximbank Meetings:Nigeria Emerges As Pan-African Trade Power House As Wale Edun Charts Path To Economy Dominance

    Afreximbank Meetings:Nigeria Emerges As Pan-African Trade Power House As Wale Edun Charts Path To Economy Dominance

    Survey Report: Nigerians Say Security Has Greatly Improved on Kaduna–Abuja Expressway

    Group Calls For Whole Of Government Approach To Address Root Causes of Insecurity

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    Edun Delivers: FG Revenue Hits N6.9 Trillion in Four Months, Surges 40% Over 2024

    President Tinubu Launches 2,000 Tractors For Mechanised Farming

    President Tinubu Launches 2,000 Tractors For Mechanised Farming

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    Why Nigeria Must Manufacture Its Own Solar Panels

    Putting Nigeria First: NASENI Leads the Charge for Made-in-Nigeria Patronage

    Putting Nigeria First: NASENI Leads the Charge for Made-in-Nigeria Patronage

    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
Daily Concord News
No Result
View All Result
Home News

Taxes As Key To Nigeria’s Economic Infrastructal Development

Tunde Abiola by Tunde Abiola
April 11, 2023
in News
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

By Musa Ilallah 

To begin this discussion, it is imperative that we attempt to understand what taxes are all about.Taxation is defined as the imposition of compulsory levies on individuals or entities by governments across the world.

Taxation is used primarily to raise revenue to finance government expenditures among other reasons. 

The Nigerian government is primarily reliant on taxes as they are a significant source of revenue and a major source of income to the government to discharge its responsibilities.

No one doubts the fact that the country today falls short of infrastructural development despite the unprecedented turn around on revenue generation and collection courtesy of the country’s Federal Inland Revenue Service, FIRS under the leadership of its Executive Chairman, Muhammad Nami.

The FIRS in Nigeria is the agency of the Federal Government Agency statutorily charged with the responsibility and powers to assess, collect, account and enforce payment of taxes accruable to the Government of the Federation. 

It is commonly said that taxation is a contribution individuals and corporate entities make towards national development. Many see this as their obligation under the social contract where they contribute to enable government provide social amenities, welfare services and  infrastructural development among others.

It is not in doubt that the FIRS  has been up and doing in significantly and substantially improving revenue generation and collection in the country in the last few years. In return, the country’s infrastructural development has steadily improved across the length and breadth of the country.

Since Government cannot provide these resources if citizens do not reciprocate by paying their taxes as at when due as an obligation, citizens must assist government to provide it with resources to fund development of the country.Visible and noticeable key projects government has executed with taxes across education, roads, health, power, agriculture,  and other key sectors have dotted the country. Examples abound in the construction of the Loko-Oweto Bridge; the Second Niger Bridge, construction and equipping of Primary Health Care Centres, building and equipping schools with the necessary infrastructure among many others.

Records show that TETFUND has disbursed over N2 trillion financed through the 2.5% education tax from the assessable profit of companies operating in Nigeria.

The government needs taxes as sustainable sources of funding social programmes like health, education, infrastructure and other services which are important to achieve the common goal of a prosperous, functional and orderly society and most importantly to foster the country’s economic growth and development. 

One can confidently say that governments raise revenues so as to pay for public goods and services. The commitment of the FIRS leadership in pursuing taxes generation and collection is very encouraging. 

Undoubtedly, taxes are key to Nigeria’s survival, economic and infrastructural development and FIRS is at the centre of it, while doing the country proud.

Previous Post

Africa Can Become First Truly Green Civilization – Osinbajo

Next Post

Gangs of Lagos: Lagos Govt Frown At Misrepresentation of Eyo Masquerade

Tunde Abiola

Tunde Abiola

Next Post
Gangs of Lagos: Lagos Govt Frown At Misrepresentation of Eyo Masquerade

Gangs of Lagos: Lagos Govt Frown At Misrepresentation of Eyo Masquerade

  • Trending
  • Comments
  • Latest

NIN-SIM Linkage: A Kidnappers’ Bogeyman On The Roll?

April 5, 2024 - Updated on February 9, 2025

How Atiku’s Lawyer’s Travelled To Cambridge To Confirm Buhari’s Certificate – And The Disappointment That Followed

September 6, 2019 - Updated on February 9, 2025

Vanguard Apologizes To Professor Osinbajo Over Fake News, Retracts Story

September 25, 2019 - Updated on February 9, 2025

I Will Waive my Constitutional Immunity to Clear my Name – Osinbajo

September 25, 2019 - Updated on February 9, 2025
Nigeria

Lest We Forget: Security Issues in Nigeria from 1999 to Date!

0
ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

0
Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

0
Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

0
Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

July 5, 2025
Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

July 2, 2025
Edun Showcases Nigeria’s Fiscal Reforms at UN Finance Summit in Spain

Edun Showcases Nigeria’s Fiscal Reforms at UN Finance Summit in Spain

July 1, 2025
Matawalle Charges Elite Special Forces to Defend Nigeria with Discipline and Patriotism

Matawalle Charges Elite Special Forces to Defend Nigeria with Discipline and Patriotism

July 1, 2025

Recent News

Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

July 5, 2025
Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

July 2, 2025
Edun Showcases Nigeria’s Fiscal Reforms at UN Finance Summit in Spain

Edun Showcases Nigeria’s Fiscal Reforms at UN Finance Summit in Spain

July 1, 2025
Matawalle Charges Elite Special Forces to Defend Nigeria with Discipline and Patriotism

Matawalle Charges Elite Special Forces to Defend Nigeria with Discipline and Patriotism

July 1, 2025
Daily Concord News

Bringing the most intriguing News from around the world you everyone in a positive way

Follow Us

Browse by Category

  • Africa
  • Basketball
  • Business
  • Culture
  • Economy
  • Education
  • Food
  • Football
  • Foreign Affairs
  • Gaming
  • Health
  • Health
  • Interviews
  • Lifestyle
  • local
  • News
  • Nigeria
  • Opinion
  • Politics
  • Science
  • Security
  • Sports
  • Tech
  • Uncategorized
  • World

Recent News

Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

Matawalle Hails NDA 18 Regular Course for Exemplary Unity and Continued Service to Nigeria

July 5, 2025
Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

Matawalle Flags Off CNG Vehicles for Military, Says Sustainability Now Core to Defence Strategy

July 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Daily Concord News - All Rights Reserved.

No Result
View All Result

© 2025 Daily Concord News - All Rights Reserved.