The Federal Government is finalizing an economy bill to enhance non- oil revenue
This was disclosed by the Minister Finance and Coordinating Minister of Economy, Wale Edun in Lagos Business School on Monday.
According to Edun, this new bill will enhance non- oil revenue and expand the tax base.
“finalizing an Emergency Economic Bill which will, in part, enhance non-oil revenue.
“Expand tax base, improve compliance, automate excise tax; review tax exemptions and duty waivers (1% of GDP); and recalibrate incentive structure e.g. post-ante,”Edun said.
According to the Nigeria Bureau of Statistics (NBS) 2023 fourth quarter GDP report, the non- oil sector contributes 95.30% to Nigeria Gross domestic product (GDP) in the last three months of 2023.
