Nigeria expects its non-oil revenues to double this year as Africa’s top oil producer seeks to offset a slump in oil revenues.
Statement from the presidency reveal that government expects to generate N3.38 trillion ($17 billion) this year from non-oil sources, up 87 per cent from N1.81 trillion last year.
Corporate income tax collection is expected to exceed the N700 billion generated last year, while the government also aims to recover stolen Nigerian assets stashed abroad as part of efforts to crack down corruption.
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President Muhammadu Buhari plans to squeeze informal small traders who make up almost half of GDP this year to boost tax revenues by 33 per cent.
