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Home Business & Finance Business

Bill Gates highlights Nigeria’s low tax collection and Its impact on health and education

Quadri Olaitan by Quadri Olaitan
September 4, 2024
in Business
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Nigeria’s low tax collection
At Nutrivision 2024, Bill Gates highlighted Nigeria’s low tax collection, emphasising challenges in funding health and education. He called for improved fiscal management and efficient healthcare systems.

 

[dropcap]B[/dropcap]ill Gates, co-chair of the Bill and Melinda Gates Foundation, addressed Nigeria’s low tax collection at Nutrivision 2024 in Abuja.

He emphasised that inadequate tax revenue hampers funding for essential sectors like health and education.

 

Also read: Otunba Gbenga Daniel advocates for strategic subsidies and tax reforms to revitalize Nigeria’s economy

 

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Gates explained that Nigeria needs to improve tax collection to better finance government programmes. He stressed the importance of building citizen trust in health and education systems through effective management of programme funds.

The philanthropist highlighted the necessity of an efficient primary healthcare system with well-staffed centres. He stated that credible health programmes could lead to greater fiscal flexibility, enabling Nigeria to prioritise primary healthcare funding.

Gates also expressed optimism about Nigeria’s agricultural potential. He suggested that with improved credit facilities, comprehensive soil surveys, and effective advisory services, Nigeria could transition from a net food importer to a major food exporter. This change would boost the economy and address nutrition and equity challenges.

Furthermore, Gates proposed that leveraging digital technologies and adopting better seed varieties could trigger an agricultural “miracle” in Nigeria.

This would increase agricultural productivity, especially in rural and northern areas, and enhance incomes across the country.

Quadri Olaitan
Quadri Olaitan

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