Jimoh Ibrahim, the Senator representing Ondo South Senatorial District, has called for the taxation of rich Nigerians to help address the country’s economic challenges. Speaking to the Senate Press Corps after plenary on Tuesday, December 3, Ibrahim emphasized that taxing the wealthy is a global practice during economic crises.

During the plenary, he provided insight into the report on the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Ibrahim highlighted that implementing higher taxes on affluent citizens would be a first for Nigeria and an effective way to increase the nation’s revenue.

“The rich in Nigeria are not paying enough taxes to be good jolly fellows with the poor. In other countries, taxes are paid on transactions, and the rich contribute more. Luxury taxes should be monitored and collected,” he said.

The senator also proposed the creation of a comprehensive database of taxable wealthy individuals, noting that only 18% of Nigerians currently fall within the tax net, leaving 72% untaxed.

Ibrahim urged the government to focus on transactional taxes for affluent citizens and to introduce laws ensuring effective collection of luxury and other taxes.