The candidate of the Social Democratic Party (SDP) in the 2023 presidential election Adewole Adebayo has attributed low tax revenue in Nigeria to a dysfunctional taxation system.

Speaking at the 2024 annual dinner and awards of The Chartered Institute of Taxation of Nigeria, Adebayo said Nigerians should not be surprised to see a dysfunctional tax system as it is presently being operated in the country.

Adebayo made the statement in Lagos during the 2024 annual dinner and awards of The Chartered Institute of Taxation of N i g e r i a , where he was a special guest of honour.

He said it was a false narrative by the APC-controlled government that higher revenue through taxation means development. “No. It does not. “Taxation is one of the major ways the government is funded.

Tax is a government function. Unfortunately, the government had been dysfunctional over time. “In a dysfunctional governmental system, the tax system will also be dysfunctional.

They are not right in their tax policies and fiscal and monetary management. “They are not right in many aspects of social delivery. Unfortunately, this is the best they know.”