The Executive Chairman, Lagos State Internal Revenue Service, Mr. Olufolarin Ogunsanwo, says taxation is the future of Nigeria following the drop in oil prices.

He made the declaration in a keynote address at a symposium on taxation organised by the Lagos chapter of the Society of Women in Taxation, an arm of the Chartered Institute of Taxation of Nigeria.

The forum was tagged, 'Tax education/career development for secondary school students in Lagos State.'

Ogunsanwo said, "Many states in Nigeria can no longer pay salaries as a result of over dependence on oil; It is therefore not out of place to say taxation is the future of Nigeria."