It was a pleasure to receive a courtesy visit from representatives of the Ibrahim Babangida University, led by the Vice Chancellor, Professor A. K. Adamu.
A major highlight of the visit, for me, was when the FIRS management was briefed that the University would be setting up a Department of Taxation to provide the much needed professional manpower for the tax industry.
It is commendable and desirable. Taxation is crucial to the subject of national development. And given the current economic realities—oil revenue to the national purse is at zero—taxation must be taken more seriously than ever before.
It is the most sustainable means of income for government. As at today, tax revenue contributes well-over 60% to the FAAC's money that is shared monthly.
The proceeds of taxes are funding our critical infrastructure: airports, roads, paying salaries and allowances to workers at the Federal, State and Local Government levels.
I urge other Universities to give the deserved relevance to the subject of taxation.
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