Bill Gates, co-chair of the Bill and Melinda Gates Foundation, has criticized Nigeria’s low tax collection, highlighting its detrimental effect on the nation’s ability to fund essential sectors like health and education. Speaking at a Pan-African youth dialogue on nutrition in Abuja, Gates emphasized that Nigeria’s current tax revenues are insufficient to support the country’s development needs.
Gates pointed out that for Nigerians to have confidence in government services, particularly in healthcare, there must be effective management and sufficient funding. He noted that his foundation is working on improving the efficiency of health programs in Nigeria, which could help build public trust in these services. Gates stressed that increasing and better managing tax revenue is crucial for sustaining quality education and healthcare systems.
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This call for improved tax collection comes amid ongoing discussions about fiscal reform in Nigeria. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has proposed raising the value-added tax (VAT) rate from 7.5% to 10% starting in 2025. The proposed reform also includes a reduction in personal income and corporate tax rates to alleviate financial pressure on citizens and businesses while enhancing overall revenue.
Gates’ comments underscore the urgent need for Nigeria to address its fiscal challenges to ensure better public service delivery and support long-term development goals.
Source: Daily Trust
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