Nigeria needs to imbibe a progressive tax system whereby the rich and the poor get to be taxed according to their wealth, President of the Nigerian Economic Society (NES), Sarah Anyanwu, has said.
Anyanwu who is also a Professor of Development Economics, said the monthly webinar series are aimed at enlightening the public on the challenges that COVID-19 pandemic has presented.
This was amongst part of the deliberations reached at the August edition of the monthly webinar organised by NES on Thursday.
The webinar had the theme: Poverty Reduction and Social Protection during and Post-COVID-19 Pandemics.
She also said it would address strategies for government to reduce poverty and promote sustainable measure for the poor. This will in turn reduce the rate of crime, Prof. Anyanwu noted.
Panelists include Chris Azubogu, Deputy Chairman, House of Representatives Committee on Appropriation; Dr Rislanudeen Muhammad, of the Bank of Industry, and Prof. Fedelis Ogwumike, of the Department of Economics, University of Ibadan.
Prof. Ogwumike who said there was high level of inequality in the tax system, urged FG to make taxation progressive so the poor will not be over taxed.
Ogwumike said the impact of the COVID-19 pandemic government has crippled some critical sectors in the economy further declining the revenue and GDP of the country.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
