Former vice-presidential candidate Peter Obi has given out what can be described as a pathway to economic recovery, Igbere TV reports.

Mr Obi, who spoke on Arise TV on Monday, agreed that the recent recession which affected about 40 countries around the world was as a result of the COVID-19 pandemic.

He however warned that the recession would bite harder on Nigeria because the country already had ‘underlying economic conditions’ ranging from extreme poverty to high unemployment rate, high number of out-of-school children, highest infant mortality rate and soaring incidences drug abuse, among others.

Obi explained that unlike the previous recession where Nigeria recklessly borrowed its way out, this present recession demands fiscal discipline for the country to scale through.

Igbere TV reports that he argued that the COVID-19 fiscal stimulus of about $5 billion provided by the Federal Government to recover the economy, was too low.

Comparing Nigeria with nations like India, Obi said they were spending around $300 billion to help them exit the recession, out of which $50 billion is for supporting small businesses. He further said that what was more worrisome, was the fact that even the little fiscal stimulus provided in Nigeria, was not getting to the right people and are not well accounted for too.

“When government supports and empowers small businesses, there will be greater productivity which will reduce unemployment, generate more revenues for the government and increase development in the country. China, for example, finances most of their budgets with taxes from small businesses, because they have a strong MSME sector that contributes greatly to their economy,” he explained.

https://www.youtube.com/watch?v=PHWr_OSpvDY

Obi also suggested a private sector driven economy that would lift many financial burdens from the government.

https://twitter.com/ARISEtv/status/1333356202093391890?s=19

Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

Peter Obi the Chinese Governor

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

tax who?

the system is the issue, how can you be governing someone in a village all the way from Abuja?

ona know say the Unitary system isn't making sense, but because it encouraged corruption and failed leadership, laziness ona dey form ignorance kwantinue.

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

[color=#006600][/color]

It seems you are benefiting from this messed system of goverment. Have you checked the amount of money being spent in running government and its agencies? They keep buying latest models of operational vehicles and majority of those agencies don't generate revenue for the government. If the government tax the citizens they will use the proceeds from those tax to support their lavish life style and also use it during election period. Most of those people in government are criminals, thugs and heartless individuals who don't care about the citizens. Very wicked set of people.

They can all see Nigeria problem from far iffa Lie Ask..


Mr Fashola: Electricity is not a Rocket Science

Mr Osinbajo: Changing mouth on restructuring after adding restructure to there campaign manifesto....


Mr President: we will Crush Boko Haram within 6 Month


They're all bunch of scammers...

Obi is right. Reduce NASS Salaries and Allowances by 50%.

9japride:
[color=#006600][/color]

It seems you are benefiting from this messed system of goverment. Have you checked the amount of money being spent in running government and its agencies? They keep buying latest models of operational vehicles and majority of those agencies don't generate revenue for the government. If the government tax the citizens they will use the proceeds from those tax to support their lavish life style and also use it during election period. Most of those people in government are criminals, thugs and heartless individuals who don't care about the citizens. Very wicked set of people.

Yes I have checked ...it's nothing ..infact we need to spend more

Elvictor:

tax who?

The 10% that own 90% of our GDP

uptimum123:
Peter Obi the Chinese Governor

Is it not better, same Chinese we run to for loan.Hope you are enjoying the so called Nigerian government

We need to introduce the mortgage system into the middle class real quick for faster trickle to the lower income.. that can easily take us away from recession, poverty capital and expand the middle class bracket while reducing unemployment and corruption.

Comparing Nigeria with nations like India, Obi said they were spending around $300 billion to help them exit the recession, out of which $50 billion is for supporting small businesses.

This sounds so good to the ears for real.
But,
If India past 2 presidents were named OBJ and a certain Jonathan, along with a certain former minister of Petroleum (Madam Opolo eyes) they won't have all these BILLIONS of DOLLARS to fall back on and make life easier for their citizens, just like the stimulus package Trump gave some eligible Americans months ago,
It would have been looted dry by their past 2 presidents and their cronies.
#BitterTruth.
May God punish every politicians that have stolen from our national treasury.
No matter the party they are or keep jumping from.
They will all never end well for destroying the foundation of our nation.

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

No doubt tax revenues have to be increased in fact I support it but it doesn't make sense if we generate more tax revenues and then it goes into the pockets of greedy politicians without have any impact on the common man

Nice.. But the truth is that if the government should do the RIGHT thing to end the recession and boost the economy to first-tier level, there'll be massive protests across the country before the plans even kick off..

Nigerians want the government to turn Nigeria into New York overnight, but they want a tax-free and all-subsidized society..

LOL, Nigerians gave President Mohammadu Buhari 5000 naira to purchase iPhone 11 Pro Max and still bring back change.. It doesn't work that way, my brothers and sisters...

The problem is with us, Nigerians... Unless we change, we shouldn't expect change.. Even our younger ones.. You collect 15k from your struggling parents to buy a textbook that's actually worth 1k, then you pocket the remaining 14k.. That's Introduction to Corruption 101..

May God help us all.

They won't
The senate already said those advocating for such are not ok..
Everything is wrong with this country

If only they would agree.

Check my signature below for our products and services.

When Nigerians are ready for this country to work, we will give to Peter Obi to arrange for us.

Until then, let's continue fooling around.

uptimum123:
Peter Obi the Chinese Governor

He is better than anything you have in the APC from top to bottom.

Keep talking nonsense.

Peter Obi my man

This man will do very well as president.

ARE THEY JUST WAKING UP?...GREEDY PEOPLE

sure we need to cut cost of governance and APC needs you

Someone above me suggested taxes be increased, and I'm wondering.
I'm a freelance writer and this government has never supported me in any way.
No electricity, no good network, I spend more than 15k on data per month.

Yet, they use other people's taxes to fund SARS and oppress us.
The Police and Army who fuel their vehicles with our taxes are our greatest night mares.
Children of politicians are funded with our taxes to travel abroad, study and come home to work on CBN, NNPC, FRSC and every other big organization.

No good healthcare, data is very expensive, no roads, nothing.
And you want taxes increased? So the dancing senator can get another Ferrari? That's pathetic bro

We need more than that

same story

k

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

You cannot tax poverty.

Nigerians are poor.

They need money to grow the economy.

Countries usually reduce taxes to increase disposable income and stimulate the economy.

Cut waste, use the excess funds and grow from there.

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

Tax revenue that the senators and their co travellers will spend on exotic Jeep's and the balance embezzled?! Tax revenue that ministers and their co travellers will embezzle through inflated contracts only to start fainting on the day of accountability?!

Igbochief001:
Sir I know we must cut cost of governance but for me that's not the problem

Effective taxing system can easily give Nigeria $100 billion a year from tax

By barely looking at banks published revenue and profit ...I was able to see Nigeria is short changed by banks to the tune of over 1 trillion naira year ...

Not to talk about the oil sector .

Or transport sector

Effective taxing is the key sir

Who are u taxing and who will use d tax that has been taxed? Where's d result of all d taxed taxes?