Taxation, key to development – ODIRS boss

Mr Tolu Adegbite, Chairman of Ondo State Internal Revenue Service (ODIRS) says taxation is very important for the development of any country
Adegbie said this in his lecture titled “Tax, The Future and You”, at a programme organised by Elizade University Tax Club (EUTC), on Friday in Akure.

The Chairman, represented by Director, Personal Income Tax at ODIRS, Mr Segun Enikuomehin, said domestic revenue was required in any economy to provide public services.

Adegbite, who is also the patron of the club, said that taxation was important for the delivery of democratic dividends to the citizens.

“Taxation is important if any government is to get enough funds for delivery of dividends of democracy, like provision of basic needs and infrastructural development.

“There is no doubt that efficient tax system enhances revenue generating potential” he said.

Adegbie, while speaking on developing an effective tax system as done by the service, said well articulated tax restructuring, engagement of young and vibrant tax graduates and the use of technology could not be over emphasised.

“If we have to change the present narrative, we need a tax policy mix and design.

“In Ondo State, this ugly picture was about reading its ugly head in 2017 when our total tax collection was hovering around N10 billion annually.

“In 2018, the present administration took the bull by the horn and the narrative changed with the introduction of various measures as earlier highlighted.

“The resultant effect was a boost in the collection of revenue in ODIRS. Today, the collection has moved from N10billion in 2017 to over N30 billion in 2021.

“Taxing right, tax types, number of taxes, rate of taxes and base of taxes will go a long way in shaping the success or failure of the economic development of Nigeria,” he said.

The Special Adviser to Gov. Oluwarotimi Akeredolu on Education, Dr Mrs Wunmi Egbayelo, in her lecture, said Nigeria is a consumer nation, rather than a producing one and this and other factors had caused continuous economic crisis in the country.

In the lecture titled, “The role of Taxation in Resolving the Nigerian Economic Crisis”, Egbayelo stressed that taxation was one of the ways for Nigeria to get out of her many economic crises.

She said that government at all levels could not generate enough revenue without proper taxation to fund its many expenditures, adding that it could be used as a control mechanism to shape the economy.

The Founder and Coordinator of the EUTC, Mrs Anthonia Oloko ,said the club had been engaging stakeholders within and outside Elizade University to create awareness about tax payment.

The ODIRS boss, some other dignitaries and members of the club were presented with awards of recognition.