Bill Gates Says Tax Collection Is Very Low In Nigeria

American billionaire and philanthropist, Bill Gates has spoken about Nigeria’s agriculture and low tax collection rates.

Speaking at the Nutrivision 2024 event, a pan-African youth dialogue on nutrition in Abuja, Bill Gates was asked about potential funding strategies for large-scale public health projects in Nigeria.

The billionaire noted that Nigeria has the potential to become a net exporter of food due to its vast lands and favorable soil conditions.

He suggested that if proper credit facilities, farmer support, soil surveys, and other agricultural initiatives were implemented, Nigeria could double its food production.

He said, “In agriculture, Nigeria, today, is a net food importer given the geography, if the right credit facilities and advice to farmers, soil surveys, (and other) things are available, there’s the opportunity for Nigeria to more than double its food output which would be pretty transformative because it would mean that you’d be a net food exporter instead of having to use very scarce dollars particularly at the current exchange rate to go buy food, you’re bringing dollars in.

“Particularly, agricultural productivity is important for the incomes in the rural, more northern areas and so embracing digital approaches, better seeds to get this kind of an agricultural miracle to take place that’s going to help the country in terms of equity, in terms of women, and in terms of these nutrition issues.

“The health piece will have to be a priority. Over time, there are plans for Nigeria to fund the government more than it does today. The actual tax collection in Nigeria is pretty low.”

He also said that health should remain a top priority and that Nigeria needs to increase its government funding over time, pointing out that the country’s current tax collection is quite low.

Bill Gates explained that when citizens see effective public and private programs in education and health, they can build confidence in these sectors.

“Our foundations are involved with a lot of the examples, showing the way in terms of making sure the money is spent well, running a very efficient primary health care system where the employees are doing great work, the centres are where they should be, you don’t have under-loaded centres or overloaded centres.

“It’s exciting that we’re driving the credibility of those health programmes, and so the citizens will feel like yes primary health care is amongst the priorities that should be very funded as you get some fiscal flexibility,” he said.

KanyiDaily had reported that the Federal Government is planning to propose a law to the National Assembly to raise the value-added tax (VAT) from 7.5% to 10%.