By Abidemi Samuel
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Former Ekiti North senator, Ayo Arise, has thrown his weight behind President Bola Tinubu’s tax reform bills, emphasizing that taxation is crucial for Nigeria’s survival. In an interview with Spyronews on Monday, Arise stressed that no nation can thrive without some form of taxation, as it generates income for the country. Arise noted that Nigeria’s reliance on a single product, subsidies, is no longer sustainable. He commended President Tinubu’s efforts to diversify the country’s revenue streams, citing the increase in excise levies and exports as positive developments. According to Arise, Nigerians are now exporting more goods than ever before, including textiles, cashews, and cultural products.The former senator also highlighted his conversation with the Comptroller-General of Customs, where he learned about the significant improvement in export activities. In the past, ships would arrive with numerous imports but depart with minimal cargo. However, this trend has reversed, indicating a surge in export-oriented economic activities. Arise’s stance on taxation echoes the sentiments of other experts, who argue that taxation is essential for funding public goods and services. As Senator George Sekibo noted in 2019, Nigerians pay relatively low taxes compared to citizens of other countries. The senator emphasized that increasing tax revenue could help reduce Nigeria’s reliance on borrowing and support economic development.
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