Nigeria’s emerging business entrepreneur Victor Kalu has stressed the need for Nigerians in the informal sector to pay taxes for infrastructural development.
Speaking at FiBOP’s workshop at the weekend in Lagos Kalu said the informal sector controls more funds outside the banking system which government can’t tax for the development of the country.
“Available data shows that over three trillion Naira exits in the informal sector and this money is out of the Banking system, tell me how could Government cope when it doesn’t have available funds to finance projects the masses need to better their lives.”.
He alluded to the fact that lapses exists in the system where people that pay tax hardly see what the authorities are doing with it, however the sole duty of citizens to Government is to pay their tax and leave government with devepement of roads, health care, Schools etc.
Kalu who is also saddled with the Delta State revenue collection duties, insisted that only 20% of over 200 million people in Nigeria pay tax regularly which he said is grossly inadequate for a country that desire to progress.
Market women don’t understand why they should pay taxes. But she forgot that, the road that runs through her shop, the security in her neighbourhood, health center happened because of tax payment.
More awareness is needed in Nigeria to hammer home the need for payment of taxes.
The Chairman/CEO of Zend Technology didn’t agree that Nigeria authorities in the oil sector are not aware of the number of litres of petrol used in the country daily.
THe said every petrol depot knows how many litres of products it dispenses on daily bases, adding that the public don’t ask questions about products movement and data to buttress certain claims