In a significant move aimed at revitalizing Nigeria’s economy and addressing widespread tax evasion, the Federal Government is embarking on an ambitious plan to overhaul the nation’s tax system. The primary objectives of this reform are to shift a greater tax burden onto wealthy citizens while simultaneously reducing corporate taxes. This transformative endeavor is part of President Bola Tinubu’s broader economic reforms designed to steer the nation toward financial stability.

The central goal of this tax overhaul is to increase Nigeria’s tax revenue from its current 11% of Gross Domestic Product (GDP) to 18% within.....

https://ratecaptain.com/fg-to-shift-tax-burden-to-wealthy-citizens-and-cut-corporate-taxes/

Kindly explain how this will affect the current economy.