Minister of the Federal Capital Territory (FCT), Nyesom Wike has urged Nigerians to pay taxes through which the government can generate revenue to provide social services.
Wike stated this on Wednesday in Abuja while speaking at the maiden edition of the Abuja Business and Investment Summit organised by the Abuja Investment Company Limited.
The minister’s remark followed the move by the Federal Government to impose a 25% effective tax rate on rich Nigerians earning N100 million and above monthly.
He emphasised that the theme of the event, ‘Optimising Investment Through Partnerships’, went in line with the Federal Government’s initiative to deploy the power of collaboration to foster investment opportunities.
The minister pointed out as fallacious the thinking that the government does not need money.
He cited the instances of the government’s partnership with the private sector that went sour, stating that the government will not continue to commit billions of naira and land to investors who cannot guarantee return on investment.
“These are the kinds of things the government looks into and say, ‘how can I bring in the money and the land, and at the end of the day, the government will not make a dime?’
“When people say the government is not to make money, who told you that? If government is not to make money, how do we have money to provide services? The government needs money.
“That’s why the government say pay your tax; it’s very important. And so, while we provide the enabling environment, we also believe that we have to encourage you (investors) so that you get what you are supposed to get and the government gets what it is supposed to get. That way, everybody will go home smiling,” he said.
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