Our taxation system should not be extortionary, says Sanusi

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The 14th Emir of Kano and former Governor of the Central Bank of Nigeria, Sanusi Lamido, has said that government’s taxing of the citizens must be sensible and not extortionary.

He said the while giving a speech on the economy and other issues at the 2024 Rivers State Economic and Investment Summit at the Obi Wali International Conference Centre in Port Harcourt, the state capital on Thursday.

Quoting the late former British Prime Minister, Margaret Thatcher, Sanusi said that no country has ever taxed its way to prosperity.

He emphasized that taxing and having a tax net is important but it must be streamlined. He added that government must tax growth and not income.

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