Nigeria’s government declared recovering of 30 billion naira ($83 million) under an amnesty program for tax defaulters, according to Adeosun the finance ministry.
The money was collected from individuals and companies under the program Voluntary Assets and Income Declaration Scheme, (VAID) the Abuja-based finance ministry said Wednesday in a statement. Those that participated will receive certificates showing they’ve complied, it said.
President Muhammadu Buhari’s administration launched the scheme to boost revenue collection in a country that has a ratio of tax to gross domestic product of around 6 percent, one of the lowest in the world. That compares with 27 percent in South Africa and 16 percent in Ghana.