Experts Tuesday agreed at National Conference on the ‘Fiscal Policy and Tax Reforms: The Challenges and Prospects,’ that the federal government should widen the tax net in order to survive the economic crunch in the country.
The experts, including Chief Blakey Ijezie whose foundation hosted the event, the chairman of the conference, Otunba Kenneth Odusanya, Professor Friday Ndubuisi of the University of Lagos; Dr Tunji Adeniyi, former Commissioner of Finance Ekiti State, all harped on the need to make the environment investment-friendly to achieve this purpose.
Speaking at the event which held at Pholax Hotel and Suites, Anthony Village, Lagos they posited that this can be accomplished via the use of technology by ameliorating corruption in government, the creation of value by saving much needed capital from wasteful spending, introducing real pro-poor policies, creating employment and fighting poverty etc.
According to Dr Adeniyi, billions of naira can easily be saved from transforming the Presidential fleet to a commercial airline or selling it off and using the proceeds for employment generating economic activity or other job creation projects.
He said that some government officials have up to 30 cars in their fleets and some of these cars if sold is enough to fight poverty among the masses, therefore he urged the government in power to go after such wastes if Nigeria is to survive its current malady.
Pastor Felix Jarikre, a Public Analyst, in his paper stated that corruption in government is a disincentive for people to pay taxes, adding that when the government in power utilizes tax by the people judiciously, the people are likely to be amenable to paying taxes.
He stressed the importance of tax payments, noting that the Christian Holy Book, the Bible, made no mention of tithes in the new testament but warned Christians to pay taxes to government. He therefore stressed that tax is not just a duty but a sacred one.
In his own summation, Prof Ndubusi said looking back on political development of Europe and the world over the centuries that tax is a social contract between the leaders and the lead and should not be betrayed by either of them, while hinting that we are witnessing state capture by politicians in Nigeria.
The Chairman of the occasion in his contribution said the problem of tax in Nigeria include multiple-taxation, lack of accountabilty of tax revenue giving instances of the missing billions in government, need for tax reform etc.
He therefore called on the Federal Government’s recently instituted Committee on Fiscal Policy and Taxation, headed by Mr Taiwo Oleyode, to do its best in the overall interest of Nigeria and its over 133 million poor.
Chief Ijezie, the host had in his address hailed the appointment of the Commiteee of Fiscal Policy andTaxation as a welcome development given the quality of standards of the individuals that make up the committee and its leadership.
