Open Letter To Kemi Adeosun In Reaction To Her Recommendation For The Economic Growth Of Nigeria -By Joshua Bamidele

Kemi Adeosun

“Those who have been privileged to receive education, skills and experiences and even power must be role models for the next generation of leadership” – Wangari Maathai

At a point in time when the economy of our dear country, Nigeria is greeted with a drench and drain, being an unexpected outcome from the change campaign that rocked the 2015 general elections with optimum expectation for the glory and strength of the nation across all ramifications, the statement from the (dis)honorable Minister of Finance may be referred as unexpected from an elite, educated person nor a leader in our nation.

It may not be an understatement that Nigeria, a country blessed with numerous mineral and other natural resources, a country blessed with expanse of fertile agricultural land with various soil types, atmospheric characteristics and hydrological composition across the federation to favor the fairing and growth of various plants across the nation had been a sailing boat in the hands of a microscopic few that makes a numerical minority but (an undemocratic) vocal majority who have directed affairs in the contempt of their individual selves rather than in the interest of the vast (numerical) majority. This has been a boat sailed in the corrupt interest of the leaders.

In simple terms, the Minister of Finance, having said that “Nigeria needs aggressive tax revenue generation to drive growth” seems to be a goof with either incompetence of handling the responsibilities of her office, lack of knowledge as to the problems greeting the economic state of the country or has decided to shy away from the obvious truth which has her and her cronies at the center of the fault. Tax revenue generation is the accrual by the government for the state through imposition of financial charges and other levies on tax payers either directly or indirectly, paid in money or its labor equivalent whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other names. The word ‘aggressive’ may be interpreted in literal terms to mean attacking but in this context may not be so viewed in such light but still as a stern generation of tax to which extent may not be defined but may include the increase in amount paid, improvement in tax generation facility, enforcement of laws to check tax evasions among others. However, at a point in time when the nation is greeted with poverty following the increase in price of goods and services, unemployment (of all forms), mass retrenchments, scarcity of funds for production among other economic crisis scenes.

Since the commencement of the Buhari led administration, there has been serial recovery of past loots which today has had an announced sum of ₦148,426,772,600, $217,300,000 and £2,074,000 which obviously exposes the wrath of the past administrations. Please recall that the President and the Vice President recently declared a 50% slash in their basic salary, an amount that sums up to ₦550,000 monthly thus leaving a foul puzzle as to the extent to which this will help contribute to economic growth of the nation. Howbeit that this administration fairs not better in economic terms than the past administrations where these loots soared and could be referred as the corrupt “height” of the nation?

Nonetheless, in lieu of aggressive tax revenue generation in ensuring economic growth, the federal government through the Ministry of Works, Power and Housing should ensure the improvement of infrastructure so as to aid production, encourage investments and SMEs as well as enhance productivity. Also, the Ministry of agriculture should embark on agricultural schemes and programs to aid rural production, encourage peasant farming and enhance local production of food and other agricultural resources. Other ministries and sectors such as steel and mining, transportation, health, security and others should also be brought fully in the picture to aggressively perform in order to ensure economic growth.

The impoverishment of the people through taxation of nothing is at this time no better means to solve economic crisis but just to fatten the ‘big purses’ up there. Instead, all recovered loots should be well channeled to appropriate quarters and should be prudently and transparently expended in an accountable manner.

The competence of leaders and their sanity is a function of credibility in governance thus an input necessary for a greater Nigeria. Our leaders should endeavor to serve in the interest of the people, committing all efforts, experience and knowledge in utmost good faith for the growth of the nation and the pride of her people.

ONE PEOPLE, ONE NATION
GOD BLESS NIGERIA

Joshua BAMIDELE [JayD]
Tel: 08189064205
Email: Jayd1914@gmail.com