The Finance Minister, Kemi Adeosun, has revealed that out of an economically active base of 70 million, only 14 million Nigerians paid taxes.
She also revealed that of the 14 million, more than 95% were salary earners in the formal sector, but only 241 people paid personal income taxes amounting to about $65,500 (£50,000) in 2016, Ms Adeosun said.
As far as companies are concerned, the Finance Minister said that more than 800,000 companies in Nigeria, including government contractors, have never paid any taxes.
According to Ms. Adeosun, there was “systematic tax evasion at all levels”, and the government planned to step up efforts to increase tax collection, she added.
This would help reduce government reliance on oil revenue, Ms Adeosun said.