Taxation is the only sustainable revenue source – Obaseki

Governor Godwin Obaseki of Edo State has observed that oil revenue can no longer sustain the country and therefore stressed the need to look at alternative sources of funding government activities.

He specifically tasked the Chartered Institute of Taxation of Nigeria (CITN) to be proactive toward expanding the frontiers of taxation development in the country.

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Gov Obaseki gave the charge at CITN’s 40th anniversary dinner held in Lagos, with the theme: “Evolution of Taxation as a Profession in Nigeria: The Birth of CITN”.

The governor, who was represented by the Chairman, Tax Force on IGR, Edo State, Mr John Inegbedio, said taxation was the only sustainable source of revenue generation in a nation.

He, therefore, stressed the need for CITN to take the front seat in driving ample tax compliance in addition to being fair to taxpayers.

He said the institute should focus more on coordinating, energising and educating the general public on taxation as their civic responsibility.

President of CITN, Mr Adesina Adedayo, hailed the founding fathers of the institute who were honoured at the event for their sacrifice and doggedness to take the institute far and bring taxation into the national consciousness.

“I must confess that it has been a groundswell of positive emotions and excitement across the length and breadth of the country in celebration of the 40th anniversary of the institute,” he said.