There is no better time to diversify the nation’s economy and create strings of income into federal and state’s coffers than now, says Akinwunmi Ambode, Lagos State governor.
Ambode stated this at the Chartered Institute of Taxation of Nigeria (CITN) breakfast meeting, Wednesday, in Lagos, saying the dwindling revenue from oil called for immediate action if the economy was to be sustained.
The meeting was in honour of Teju Somorin, the new president of the institute.
Represented by Ademola Olabowale, permanent secretary in the state Civil Service Pensions Office, the governor said the CITN had roles to play in successful realisation of government fiscal policy.
He said the major challenge facing government at all levels was the diversification of the revenue base due to fall in oil prices in global market.
“There is a compelling need for us to identify and develop other sustainable sources of revenue to support the economic growth and development we desire.
“Our current economic situation calls for greater commitments and contributions from all stakeholders, particularly professional bodies as yours,’’ he said.
The governor called professionals to advise and increase input in the implementation of various reforms aimed at repositioning the economy, tasking the stakeholders to imbibe good professional conducts and practices.
“For this is the way we can continue to earn respect and trust of all those who look up to us as people of honour and integrity.”
Somorin decried the unprofessionalism within the tax system in Nigeria, saying she would strive to make a difference in her tenure.
“I have clarity of purpose in pursuing a vision that is very vivid to me and beneficial to CITN and human race at large. I shall consolidate on the structures that my worthy 11 predecessors had put in place,’’ she said.
She used the occasion to unveil a five-point agenda, which included the re-branding of CITN, membership drive and acquisition of a property in Abuja for the institute.
Others would the endowment of professional chairs in the universities, continuous human capital development and staff welfare.
“Improved Information Communication Technology (ICT), funding programmes, giving of required support to Nigerian Academy of Taxation (NAT) will be pursued vigorously,” she said.
