Fowler: Grants and loans are NOT reliable revenue sources — taxes are

Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says taxation is the country’s lifeline for economic development.

Fowler made this known on Tuesday night in Abuja at the investiture of Kudirat Abdul-Hamid as the third national chairperson of Society of Women in Taxation (SWIT).

Fowler was represented by Abiodun Aina, an official of the FIRS.

He said aids, grants and loans were not reliable revenue sources to ensure the development of any economy.

Charging SWIT under Abdul-Hamid’s leadership to continue to educate Nigerians on why they should pay tax for economic and national development, the FIRS while the service will continue to work to reduce the burden of taxation.

Although Fowler noted that Nigerians were not convinced that their taxes were being judiciously used, he said the federal government has been more prudent in utilization of generated revenue from taxation.

According to Fowler, revenue generated from taxation is currently being utilised by the government to improve the country’s infrastructure, electricity as well as create employment.

In her remarks, Abdul-Hamid assured that she would not let Nigerians and members of SWIT down.

“We shall ensure global best practices, value creation and addition; we hope to bring more women on board, including those operating in isolation,” she said.

“We will remain resolute in not just talking taxation, but working to ensure that Nigerians pay their taxes.”

NAN reports that Abdul-Hamid is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation (CIT) and a member of Nigerian Institute of Management, is presently the auditor-general for federal capital territory (FCT) area councils.