Mobilise Resources Aggressively to Enhance Weak Revenue, IMF Tells Nigeria Kunle Aderinokun, Chika Amanze-Nwachuku, Obinna Chima and Nume Ekeghe in Washington DC The International Monetary Fund has advised the Nigerian government to vigorously pursue strategies that would strengthen its weak revenue
base in order to develop critical infrastructure needed for the growth of the country’s economy. The Director of IMF's African Department, Mr. Abebe Selassie, said this while responding to questions at a media briefing on the sidelines of the IMF-World Bank Annual Meetings in
Washington DC. Selassie applauded the government’s effort to increase tax revenue and urged it to continue to the current tax reforms so as to raise the country's non-oil revenue. According to the IMF director, "There is going to be need for tax policy changes for Nigeria,
which has a very low level of revenue mobilisation, to improve that. Again, I come back to the point that these resources are needed to help strengthen infrastructure gap in Nigeria and many schools that have to be built and the conditions of schools as well as improving healthcare delivery.
"Now, in terms of designing tax policies, there is a way to do it. We indeed advise countries and provide technical assistance in a way that is progressive, so taxes are collected by people of the richer segment of the society. There is a lot of technical work that needs to be done. "The decision on the tax
policy changes would be the governments’ and their parliaments’, but we would be providing a lot of support on policy advice. I cannot stress again that the key remains Nigeria needs to do a lot more investments in human capital.” Continued on page 9
Runoff Increasingly Likely as Votes Counted in Liberian Election Reach 75%... Page 9 Sunday 15 October, 2017 Vol 22. No 8214
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CELEBRATING ROYALTY… L-R: Snr. Mgr. Corporate Communications, Aiteo ,Ndiana-Abasi Matthew; Group Executive Director, Legal, Andrew Onyearu; Snr. Vice President, Commercial & Gas, Victor Okoronkwo; Chief of Staff to Executive Vice Chairman, Onochie Haffner; GMD, Chike Onyejekwe; His Eminence, Amayanabo of Nembe Kingdom, King Edmond Daukoru; Chief Operating Officer, Emmanuel Ukeagbu; MD, Nembe Creek Trunk Line, Tunde Akinpelu; Regional Mgr., Port Harcourt, Chioma Alero; and Chief Financial Officer, Mitchel Uchegbulam, during the 74th birthday anniversary/courtesy visit to King Daukoru by Aiteo Eastern Exploration & Production Company Ltd management team ...yesterday
Oyegun: Akande’s Comment on APC Presidential Ticket His Personal Opinion Ex-chairman’s remark that party’s presidential ticket is open to all unsettles South-west APC Clashofinterestspolarisesparty's panel on restructuring Olawale Olaleye in Lagos and Onyebuchi Ezigbo in Abuja The National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, has said the statement credited to his predecessor, Chief Bisi Akande, that the party’s presidential ticket for 2019 election was open to all was his personal view. Although Oyegun who had declared in May that the party would give Buhari right of first refusal for the party's
presidential ticket in 2019 was unperturbed byAkande's remark when responding to a question from THISDAY on telephone last night, that was not the situation with some South-west leaders of the party, who were taken aback by the development, as they maintained that the former national chairman of the party spoke outside the agenda and resolutions of the zonal leaders’ meeting. Continued on page 9
BUILDING ENTREPRENEURS… R-L: The Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu; Vice President Yemi Osinbajo; former Ogun State Governor, Aremo Olusegun Osoba; and CEO, Nigerian Export Promotion Council, Mr. Segun Awolowo, during The Tony Elumelu Foundation Entrepreneurship Forum 2017 - the largest gathering of African entrepreneurs – supported by United Bank for Africa Plc, in Lagos ...yesterday