FG plans to tax 700,000 more companies

The federal government says it plans to tax 700,000 more companies as part of efforts to increase non-oil revenue and address the economic challenges facing the country.

Vice-President, YEMI OSINBAJO gave this indication during the 2016 Presidential Policy Dialogue Session, organised by the Lagos Chamber of Commerce and Industry.

OSINBAJO listed other steps taken by the Federal Government to boost the economy to include assisting states and local governments to pay workers and improving capital expenditure.

In terms of capital expenditure, the Vice President said the federal government pledged to keep capital spending in the budget at a minimum of 30 per cent.