The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigerians will pay more taxes.
She said this has been captured in the medium term as proposed in the Finance Bill 2021.
The minister disclosed this yesterday during a public hearing on the bill organized by the House of Representatives Committee on Finance.
Ahmed said Nigeria must diversify its revenues from oil to fund critical expenditures.
She said Nigeria also requires more fiscal reforms.
In his opening remark, the Speaker, Femi Gbajabiamila, who was represented by the Minority Leader, Ndudi Elumelu, said the 2021 Finance Bill seeks to introduce strategic and broadminded, positive reforms that would engender best practice, statutorily check borrowing by local, states and federal governments.