Our citizens are already more than challenged by the poverty levels occasioned by reduction in Government revenues, due to the fall of Crude Oil prices and some of the necessary corrective measures the Buhari Government has carried out in order to keep the economy afloat. It will therefore be unacceptable to add more burdens and difficulties to an already difficult situation.
What the Government must do instead is to take a bold steps to reduce, drastically the overloaded remunerations, allowances, gratuities, imprests and logistics of the Political Office Holders across all Arms of Government. These are the reasons the Government spending are being overweighed by recurrent expenditures against capital expenditures.
If this is done,the Buhari Government would have greatly succeeded beyond measures, in containing the do or die destructive spirit that has been trailing our electoral contest and the violence that results from winning at all cost in order to have access to unwarranted remunerations of the political office holders, that are constituting outrageous burdens of special privileges of profligate few in powers upon the masses and the economy.
The freed money from these bold steps will help increased investments on critical infrastructures that are capable of increasing our national levels of productivities and crystallized industrialization; where by more factories and companies will be created and economic bases expanded to creates more employment and to generate more VAT and taxes.
I have seen people brandishing the VAT rate in some other African countries as justification for increasing our VAT rate. Let me emphasize that the situations, circumstances and economic growth rates as well as poverty levels varied in those country. Our growth rate in comparison is a delicate growth rate that any slightest economic miscalculation can reversed.
The essence of Government and political Administration should and always be for the uplifting of the masses of our people out of poverty and for collective good of the people. Raising the Value Added Tax will slow down the economy that is currently growing at a very sensitive rates by drawing down the purchasing power of the people. This is not in alignment with Buhari’s commitment to lift 100 million Nigeria out of poverty!!!
God bless Nigeria
God bless Nigerians
God bless the President (PMB)