American billionaire and Microsoft co-founder, Bill Gates, has pointed out the need for improved tax collection in Nigeria, describing the current levels as “pretty low.”
News About Nigeria reports that Gates made this observation during an event in Abuja on Tuesday, September 3.
He said that better tax collection is necessary to boost government funding to support essential services like education and healthcare.
Gates pointed out that as Nigerians gain confidence in the efficient management of these programmes, they will likely support increased funding for them.
“Over time, there are plans for Nigeria to fund the government more than it does today. The actual tax collection in Nigeria is actually pretty low,” Gates noted.
He added that well-managed primary healthcare systems, where resources are optimally allocated and staff are highly effective, are crucial for gaining public trust and securing fiscal flexibility.
Gates’ comments came shortly after Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, announced a proposal to the National Assembly to increase the value-added tax (VAT) rate from 7.5% to 10%.
Additionally, Gates revealed that Nigeria receives the largest share of intervention funds from the Bill and Melinda Gates Foundation in Africa, due to its large population and needs.
He expressed satisfaction with improvements in child mortality rates but stressed that more could be done.
He said, “We spend a lot in Asia, but we spend even more in Africa. The country where we spend the most in Africa is Nigeria. That makes sense because of the population and the incredible needs that are here. That means that I’ve literally spent billions in Nigeria. I’m glad that things like the child mortality rate have come down, but we could do a lot better.”
