Ex-NERC Chair Criticizes Nigerian Tax Reforms, Warns of Economic Risks
Former NERC Chairman, Dr. Sam Amadi, criticized Nigeria's tax reform drive, highlighting the risks of poorly conceived taxation on economic growth and poverty levels. He emphasized the importance of taxation as a tool for governance legitimacy and cautioned against higher tax rates leading to economic depression and increased poverty.
Amadi also warned about the unintended consequences of heavy taxation on the middle class indirectly affecting the poor due to the lack of formal social security systems in Nigeria.
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