Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
African Action Congress (AAC) presidential candidate Omoyele Sowore has declared that he would not introduce new taxes if elected president in 2027, arguing that Nigeria could generate substantial revenue by recovering outstanding oil royalties and improving compliance with existing tax obligations.
Sowore made the remarks during an interview on African Independent Television (AIT) on Saturday, October 10, 2026, where he discussed government revenue, taxation and how public services could be funded.
He argued that Nigeria should focus on ensuring that individuals and businesses liable to pay taxes fulfil their obligations rather than continually introducing additional tax measures that could place more pressure on citizens.
According to Sowore, expanding the tax base would involve bringing more eligible taxpayers into the system and ensuring that existing revenue obligations are met.
The activist, however, clarified on Sunday, October 11, that his proposal should not be interpreted as a plan to impose new taxes on Nigerians.
In a statement shared on his X account, he said a Sowore-led administration would have no plans to introduce new taxes, adding that Nigerians were already struggling with economic hardship.
“Our agenda is to create prosperity, not impose additional tax burdens on struggling citizens,” he said.
Sowore identified unpaid oil royalties as a major source of potential government revenue. He claimed that oil companies owed Nigeria more than $62 billion in outstanding royalties, alleging that some companies had benefited from oil blocks without paying the royalties due to the state.
He argued that recovering the money could provide funds for infrastructure development, education and other essential public services.
“Just ensure that you pay us our $62 billion. You know, we use it to do what we need to do, what we need to construct, the schools we need to build, and we cut down the cost of governance,” he said during the interview, according to TheCable.
Sowore also maintained that royalties should be considered alongside other government revenue sources when discussing taxation and public finance.
His comments come amid continuing national debate over tax reforms, the cost of living and the government’s ability to generate sufficient revenue to fund public services.
However, the $62 billion figure remains a claim made by Sowore and has not been independently established by the reports reviewed as the total amount currently recoverable by the Nigerian government. Determining the amount would require official records identifying the outstanding liabilities, the companies involved and the status of any recovery efforts.
Sowore’s proposal therefore centres on recovering alleged outstanding royalties, broadening compliance with existing tax obligations and reducing the cost of governance rather than introducing new taxes.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters News | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments