By Adedapo Adesanya
The President of the African Development Bank (AfDB), Mr Akinwumi Adesina, has tasked President Bola Tinubu to develop a strategy aimed at improving Nigeria’s revenue, noting that this is key to national development.
Mr Adesina, while speaking in Abuja at the 2nd Edition of Nigeria Employers’ Summit themed Trade and Non-Oil: Changing the Narratives for Rapid National Development, said Nigeria’s revenue to Gross Domestic Product (GDP) ratio, at about eight per cent, was among the lowest globally.
He said Nigeria is currently facing huge fiscal deficits, estimated at six per cent of GDP, attributable to high public expenditures amidst dwindling revenues from crude oil exports.
The AfDB boss listed other measures that should be prioritised, including improving tax collection and tax administration, plugging leakages in tax collection and…
