UK asks next Nigerian president to increase taxes, end fuel subsidy


By Ismail Auwal

British High Comissioner to Nigeria, Catriona Laing, has called on the next president of the country to increase taxes remove petrol subsidy.

Speaking on Tuesday in an interview on Channels Television, Laing also said the next president should address the issue of multiple exchange rates.

She added that the next president should build a “strong inclusion team” which will especially include youths and women.

“It is going to be the economy — number one — because that is holding Nigeria back. The economy failing is also causing a lot of insecurity,” she said.

“There are two or three key decisions that the incoming president has to take.

“Number one is to remove the fuel subsidy, but to do it in a way that protects the poor people.

“Secondly is to tackle the multiple exchange rates. Businesses will not invest in this country if they can’t secure their foreign exchange.

“Three, raise taxes. You have one of the lowest tax ratios in the modern world. Without raising revenue, you can’t invest in public services. And public services — infrastructure, education — are key to the future.”

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