₦airaland Forum

Globally, government of sovereign states are responsible, through planning and budget, for drafting their expenditures and income for a given period usually a year. However, for the income aspect, most government resort to borrowing domestically or international in complementing internal generated revenue(IGR). Federal government of Nigeria, in recent year, is looking at the direction of taxation to generate income, meet her expenditures and service loans incurred. Though, the idea in itself is good provided is skewed towards the rich organisations and individuals that can afford it at this hard time when all developmental indices like unemployment rate, inflation rate, etc are in double digits. It is a lazy approach to increasing revenue for government whose citizens' welfare and better tomorrow is held in high esteem.

Increment of VAT to 7.2% from 5%, tax imposition on carbonated drinks, charges on cash deposit and withdrawal above five hundred thousand naira, high custom duties/ tarrifs on imported items not under prohibition list all have implicatons on government and citizens; however, final consumers would bear the burden which would increase general prices of goods and services in the country. Instead, tax levy proposition on foreign trips, medicals, unoccuppied properties and luxurious items should be given consideration.

Our policy makers know that borrowing to finance budget deficit is not the best option to becoming a progressive state. Nigeria as emerging economy, there is urgent need for government to think, strategize and work productively by annexing and engaging both human and natural resources towards creation of more wealth and development as the case of United Arab Emirate. Government expenditures on education/ research, agriculture, health, capital projects and security are more paramount towards realization of self sustained economy. The cost of governance and size of public workforce must be given reconsideration by bringing it down to the bearest minimum for effective and efficient productivity on Nigerian economy.

I applaud the fight against corruption the federal government is embarking upon but I expect more. Unnecessary allocation of funds and resources to unproductive ventures such as constituency projects, salaries to past government officials, office of the first lady, Hajj and pilgrimage commissions, grants support to other african countries, to mention few, should be abolished completely. Also, cutting down on allowances of government officials means more savings and reduction in borrowing.

I urge the government not to follow the easy-way out approach by impoverishing the poor masses with anti-people policy. A broad based tax system is necessary only when the government have fully provided basic social security and amenities with business viable environment as well as opportunities for growth mechanism. With vast natural and human resources embedded in Nigeria, I expect government to be visionary, real and highly productive to advantage of wealth creation and redistribution for all citizens irrespective of political, religious or ethnic coloration. President Buhari's government must step up action towards realization of better Nigeria.

Guy you wise I just hate anything called tax!





Why not reduce governance cost?

@ Wisefellow

In intelligent countries citizens go out on protests to get their government to do what the people want. But not Nigerians. IQ levels are too low. For Nigerians no matter what is placed upon them, it is either
1) We go manage am.
2) Make our way by hook or by CROOK abroad to go enjoy what we did not work for.

tayebest:
Guy you wise I just hate anything called tax!





Why not reduce governance cost?

Both tax levy and reduction in cost of governance are integral part of government function process. Unfortunately, the Nigerian government over the years till date are quick to adopt the former approach to the latter, fully aware the latter is key.

Goldencheese:
This is the best article that summarises the silliness or laziness of government in tackling the present revenue dryness. Two ways you can raise revenues: 1, make more money and 2, reduce wastages. Governance in Nigeria is one very expensive thing. More expensive than even developed societies that we are copying. There is so much waste at the executive, legislative and judicial levels at the federal and state levels. Just yesterday, the presidency appointed 6 aides for Aisha Buhari, a non-elected person. Six aides. It means for the next 30-something months of the life of this govt in its second term, these six aides will earn free money running errands that a typical person can do for the First Lady. And what is the work of this First Lady? And this is a govt that promised not to have an office of the First Lady. This govt is no different from the govt it replaced, not in any way different. In fact, things have gone and are going south.

I will advise Buhari not to push his luck too far, something he seems to be doing now. Nigerians are becoming irritated by the incompetence, laziness and irresponsibility of this govt.

And please, I am not for APC or PDP, I am for good governance in Nigeria!

No doubt, people are losing hope,day by day, in this government considering the level of support given and expectation.

Acting by watching!

APC govt have no time for prudence as far as governance is concerned.