SWIT emphasises need to expand non-oil revenue sources

The Chairperson of the Society of Women in Taxation (SWIT), Abuja chapter, Mrs. Ruth Arokoyo, has emphasised the need for expanding non-oil revenue sources. Mrs. Arokoyo was speaking at the 2018 seminar of the society with the theme, “Impact of Tax Revenue on Economic Growth: Imperative of Expanding Nigeria’s Non-Oil Revenue Sources.” Arokoyon said, “Perhaps […]

The Chairperson of the Society of Women in Taxation (SWIT), Abuja chapter, Mrs. Ruth Arokoyo, has emphasised the need for expanding non-oil revenue sources.

Mrs. Arokoyo was speaking at the 2018 seminar of the society with the theme, “Impact of Tax Revenue on Economic Growth: Imperative of Expanding Nigeria’s Non-Oil Revenue Sources.”

Arokoyon said, “Perhaps one may ask why the need to expand Nigeria’s non-oil revenue sources. The unstable nature and downward trend in price of crude in the international market which has been the major source of revenue to the country has called for a serious consideration for alternative sources of revenue.  Taxation is a sustainable alternative to the dwindling oil revenue.”

The special guest of honour and Coordinator, FCT, Kogi and Nasarawa states of the Federal Inland Revenue Services (FIRS), Alhaji Salihu Alkali, said for Nigeria to get more revenue, it must redefine its goals.

Represented by the Assistant Director, Taxes, Alhaji Sani Dahiru, Alhaji Alkali said revenue from taxation was the way to go.

He said, “We have oil taxes and we have non -oil taxes. Beyond oil, we have the income tax and the non-income tax. Income tax are taxes that have to do with income.”

He further said the FIRS was partnering with the Cooperate Affairs Commission (CAC) and the Nigeria Deposit Insurance Corporation (NDIC) to encourage small businesses and stakeholders, adding that without business activity there would  be no tax.

While speaking on the topic: “Managing Family and Career to Achieve a Desired Goal” , the Auditor General of the FCT Area Councils and National Vice President of SWIT, Hajiya Kudirat Abdul-hamid, said for anyone to make input and add value in the society, it must start from the home. Hence, she said the management of the home is paramount and must not be neglected by women.