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Tax Waivers: Nigeria Loses $2.9b Annually – OXFAM

An international non-governmental organisation, Oxfam in Nigeria, has made a revelation that Nigeria as a country, is losing not less than $2.9b annually to tax waivers.

The organisation equally stated that about 30 percent of companies operating in Nigeria evade tax while 25 percent of registered companies in the country are not paying tax.

The group particularly argued that Nigeria loses about $2.9billion or N580billion yearly to tax waivers granted to multinational companies.

Oxfam made this known through its Country Director, Constant Tchona, at the official unveiling of two reports: Fair Tax Monitor Index and the Commitment to Reducing Inequality Index, to the public.

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