The Chairman of the Senate Committee on Inter-Parliamentary Affairs, Jimoh Ibrahim, yesterday accused rich people in Nigeria of not paying adequate taxes to government.

Ibrahim who represents Ondo South, said this while contributing to a debate on the 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) during plenary.

He noted that despite generating employment, such people need to pay taxes on their luxurious assets.

Addressing reporters after plenary, Ibrahim said: “They (the rich) need to pay more. It is comfortable for them to pay. I know they say they generate employment, but they need to pay more on their luxury assets.

“This is the area we should develop. I am looking at laws that will actually police transactional cost.

“Government provides incentives for your business. What we are looking at is profit from your investment. The gross domestic product (GDP) to tax ratio is 18 per cent; about 72 per cent is left out of the tax net. We should be worried that 72 per cent (of taxable citizens) are not in the tax net.

“I am not saying we should go and tax the poor population, but the rich needs to do more in these difficult times.”

Ibrahim suggested that the Federal and state governments distribute food vouchers of N100,000.00 each to 30 million poor Nigerians monthly.

The Ondo South senator said this would cushion the effect of high cost of goods and services and associated hardship in the country.

He said noted that the implementation of his suggestion would reduce pressure on the naira since the vouchers are mere paper. (The Nation)