Former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, recently emphasised the importance of sensible taxation during his speech at the 2024 Rivers State Economic and Investment Summit held at the Obi Wali International Conference Centre in Port Harcourt.
Sanusi stressed that taxation should not be extortionary and should aim to promote growth rather than burden citizens.
Quoting the late former British Prime Minister Margaret Thatcher, Sanusi stated, “No country has ever taxed its way to prosperity.”
He elaborated that while taxation and a comprehensive tax net are crucial, the approach must be streamlined to avoid stifling economic growth.
He argued that the government should focus on taxing growth rather than merely targeting income.
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