Former Finance Minister, Dr Kwabena Duffuor, believes that leveraging on extractive natural minerals is a better alternative than introducing more taxes.
Speaking on Asempa FM’s Ekosii Sen show, Tuesday, he said the government should consider generating more revenue through natural resources.
“We should pursue our natural resources, there is so much we can tap. The bulk of revenue is in the natural resources. Government should raise revenue from our minerals,” he noted.
He noted that the government has not been managing the resources well enough to generate revenue for the country.
“We can’t allow private investors to control our resources. How different are we from Botswana? They manage their diamonds to generate three to four billion.
“We are only gaining 16% from oil while Nigeria generates 51% revenue only on oil. It is a responsibility for every citizen to pay tax, however, we need to tackle the bigger one,” he added.
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