It has become quite obvious that Nigeria is headed for a very serious financial crises that could lead to the collapse of the country. Both the federal and state governments are struggling to pay salaries and there is no hope in sight.

Oil prices aren't going to rebound anytime soon.

Foreign lenders are no longer eager to give Nigeria loans anymore since they have realized we are incapable of paying back.

The federal government is already panicking and taking very desperate and dangerous measures by printing more paper currency to share. When currency is printed recklessly without commensurate value creation supporting it, it always ends in disaster. Venezuela and Zimbabwe are recent examples of the horrors this can cause.

I have confidence that if there is any region that can survive this coming crises, it would definitely be the South East considering that the region has the least government presence and also the fact that the people rely more on remmitances and commerce. However, SE governors need to make a very significant move that will massively boost its IGR.

By this, I'm not talking about taxing businesses that are already at their wits end, rather SE state governments need to start taxing landlords at least 5% of whatever they get as annual rents.

This would be a game changer for us because this move alone will triple or quadruple our IGR. Also, it is important to note that landlords mostly belong to the top or middle class in the society, so they won't feel the effect of it too much.

Desperate times calls for desperate measures. By taxing landlords, states like Anambra, Abia, Imo and Enugu will be able turn the tides considering the high level of estate development in those places. Again, this would make our people to become more concious of how our governors spend money and follow them up accordingly.

Ndi Ara!

Landlords on their own would realize how powerful they are considering their massive contribution to their state economies. Therefore, it won't be out of place for them to form unions pressure groups that would be following up on the government as per how it spends money and also to be warry of embezzlement. After all, he who pays the Piper dictates the tune.

So, the landlords Union or association should mandate the state government to publish its monthly and annual income and expenditure which they would always scrutinize forensically to know if their money is being judiciously spent. This move would help engender good governance and citizen participation.

Citizens would become more responsible and issues like ghost workers, embezzlement, theft or destruction of government properties since the people will see it as a direct attack on them.

Op your brain is working well. Very good points..

Short term sources of revenues for the south east governors

1) Real estate: Includes land sales taxes, building taxes and rental taxes

2) Trades: Small fixed taxes on SME and Large businesses

3) Diaspora fund: Funding from the Igbo diaspora to fund critical infrastructures.

You’re buying war equipments to deliver to boko haram you guys are crazy

This gadmn must divide scum

booscy:
Eziokwu?

Then after taxing Landlords 5% of their annual rent, gini wee mezie?

This is even where wahala will kuku burst.

The governments failure to get creative and invest in ventures that will yield lootable money is their headache.

M I Okpara under few years developed the whole eastern region industrially to be the fastest growing economy in the world, he didn't tax any landlord.

He set up cement companies, breweries, cash crop plantations, obudu cattle ranch for beef production, trans amadi industrial cluster, expanded the seaport in Port Harcourt, built the best hospitals etc.

The seeds of Dura Percifera breed of Palm tree which Malaysia came to borrow from South East Nigeria is what Malaysia built it's economy with.

Our government Nationwide is a cliché of lazy thieves who only want to share oil money

They don't know that oil prices will never rise again, everyone is developing cleaner energy alternatives even the middle East oil Giants are going green.

Only Aba and Nnewi can feed the whole South East Nigeria, Mega industrial clusters there and technology hubs that the government instead of investing in is over taxing and stifling

Go and see made in Aba machines, go and see Nnewi technological wonders.
Even the Nigerian Military relies on South East.

The Innoson Vehicles alone out perform the Toyota hiluxes in the operational theatre of the Nigerian Army.

Nigerian Airforce alpha jets are being maintained with spare parts from Nnewi.

Let me say no further, taxing south eatern Landlords is not the solution to the impending economic crisis.

These buffons should get creative. There are many things to invest in with the little remaining loot.

I'm not disputing the points you made about how the government of Michael Okpara made massive developmental strides. However, you must understand that during the first republic, the regions were semi autonomous. Whatever was generated in the regions stays in the regions except some taxes and royalties they paid to the central government. Nigeria is currently robbing Peter to pay Paul. There is nothing we can do about that until the country is either restructured or balkanized. But in the meantime, we really need to look inward and develop out of the box strategy that would help us to turn the tides in our favour.

Most of our states get around 3 to 4 billion naira monthly from the federation account at best. This paltry figure even without embezzlement is nothing in real terms. Worse still, the funds are no longer guaranteed going forward.

Once landlords become a huge contributor to state revenue, I can assure you that embezzlement of public funds will drastically reduce. Because a good number of house owners in Igboland are our diaspora population and they can't be sacrificing their hard-earned money only to see our governors buying houses abroad, sending their kids to the best universities while those in their state rot away. No, they will revolt and challenge those governors.

A landlord union that is responsible for a significant proportion of government revenue can go to court and stop the state government from doing any project they consider as waste of resources.

I would gladly allow the government to have 5% of my annual rent money if it will help to turn our soceity around.