Increasing Tax Revenue - KPMG | NG
Share with your friends

Increasing Tax Revenue

Increasing Tax Revenue

According to the World Bank Group, Nigeria currently ranks 145 out of 190 economies on the ease of doing business and 171 on Paying Taxes Indicator.

Wale Ajayi

Partner, Tax, Regulatory and People Services

KPMG in Nigeria


Related content

Tax Transaction

The tax-to-GDP ratio in Nigeria is estimated at 6% compared to an average of 17% for sub-Sahara African countries. The main deduction from this low ratio is that tax revenues do not play any significant role in funding government projects.

The dire need to change this negative situation became more urgent when oil price fell from the high of USD120 per barrel to USD30 or thereabouts. Given the low revenue from oil (as a result ofshut-in production arising from the activities of Niger Delta Militants, the Government had to resort to massive borrowings to fund both recurrent and capital expenditure.

© 2019 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

Connect with us


Want to do business with KPMG?


Request for proposal