Nigeria has lowest tax rate globally minister insists

I think there may be some misinformation here.

According to various sources, including the World Bank and the International Monetary Fund (IMF), Nigeria's tax-to-GDP ratio is actually one of the lowest in the world. In 2020, Nigeria's tax-to-GDP ratio was estimated to be around 6.1%, which is significantly lower than the average for sub-Saharan Africa and the global average.

In fact, a report by the International Monetary Fund (IMF) in 2020 ranked Nigeria as having one of the lowest tax-to-GDP ratios in the world, alongside countries like Afghanistan, Liberia, and Sierra Leone.

It's worth noting that a low tax-to-GDP ratio can be a concern for a country's economy, as it can lead to a lack of revenue for public goods and services, and can make it difficult for the government to fund important initiatives like infrastructure development, healthcare, and education.

It's possible that the Minister may have been referring to a specific aspect of Nigeria's tax system, such as the corporate tax rate, which is around 30%. However, this is still higher than many other countries in the region.

I hope this information is helpful. Let me know if you have any further questions!