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IMF wants Nigeria to hike taxes. Who really pays the price?

A lively street protest in Nigeria with activists waving flags and holding signs. Photo by Tope J. Asokere @Pexels
A lively street protest in Nigeria with activists waving flags and holding signs. Photo by Tope J. Asokere @Pexels
  • Nigeria’s tax-to-GDP ratio of 13.5% is among the world’s lowest
  • Economists say millions have not recovered from subsidy removal

 

ABUJA, NIGERIANigeria has just completed one of the most ambitious fiscal overhauls in its recent history. Petrol subsidies have gone. The foreign exchange market has been liberalised. New tax laws took effect in January to simplify administration and broaden the revenue base.

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