when you add the enabling infrastructure, the work being done on ease of doing business with the natural talent and entrepreneurism of our people, it… - Kemi Adeosun

When you allow people to steal brazenly, there is no text book theory needed to tell you there is a need to enhance controls and reporting or you will have problems.

The Federal Inland Revenue Service (FIRS) is doing a great job in this regard already. It is all about data and bringing people and companies into the formal sector. Firms that operate under the radar can easily avoid tax. The government is doing basic things to expedite this process, such as scanning all business cards we receive and sending them to FIRS. If a company comes looking for payment from the government to implement a project, we check them before any money is released. At the beginning of the administration’s term, we found that some firms, such as fuel marketers, were receiving subsidies from the government but were not registered for tax. By increasing the flow of information and following up on such cases, we will quickly expand the tax base.

When there are no limits and boundaries on the application of public funds, an economy cannot grow.