The finance minister, Zainab Ahmed said, Federal Government is asking for help from the International Monetary Fund(IMF), on improving tax collection, especially from the International Oil Companies(IOCs).
She told reporters about the sidelines of the ongoing 2018 International Monetary Fund(IMF) Meetings, in Bali and Indonesia, that government has to be in a position to develop tools that could help pursue taxes, especially ”from very large corporates, like international oil companies(IOCs), and the IOCs have the greatest tax potential in Nigeria.
Zainab Ahmed said, ”This is the industry that, from the Thabo Mbeki Report, shows that about 70 percent of the illicit financial flows that go out of Africa, Nigeria included, are related to the extractive industry.
Mrs. Ahmed said Nigeria’s delegation also met with investors from different parts of the world and told them ‘the Nigerian story and made it clear to them that Nigeria is a good place to do business and that the returns you get from Nigeria are high, at about 14 percent, as against about four percent, in other countries’.
She was confident that the Eurobond we are trying to raise will have a positive outcome.