COVID – 19 Pandemic: NESG Boss Urges FG To Invest On Critical Infrastructure.

Co –Chairman, Nigerian Economic Summit Group (NESG) Fiscal Policy Roundtable, Dr Suleyman Ndanusa has advised the Federal Government on the need to explore economic benefits deriving from the COVID -19 global health pandemic by investing in critical infrastructure areas that are capable of guaranteeing rapid development of Nigeria;s economy.

Appearing as special guest at an online media interview aired in Lagos, Ndanusa identified such critical infrastructure needed for rapid economic development to include among other things health facilities at both federal and state levels, development of roads and rail transport systems as well agric education.

In addition, he said government needed to create enabling environment through ensuring adequate job and employment opportunities to ensure that citizens were able fulfil their tax obligations in order to boost domestic revenue drive in the country.

He stated that in the face of the current COVID – 19 pandemic, it was imperative that the government should review its current economic policies and adopt a more radical approach in its management mechanism by investing in critical infrastructure that would have long term economic impact on the country.

“Unless we seize this opportunity. It’s a baptism of fire.  We have to seize this opportunity to make some radical changes in the ways we’ve been doing our things. We have to be more transparent and more accountable”

“We must prioritize. Where we put our money is very important.  We must put our money on infrastructure that will have multiplier effect on the economy, and I suggest that we put our money in health because of the pandemic.  We have been so exposed, agric education and of core infrastructures”

Answering questions as to the imperative of improving upon the country’s domestic revenue through the instrument of taxation, the NESG boss observed that the government must ensure transparency and greater accountability in its economic management architecture and create enabling environment that would encourage Nigerians fulfil their tax obligations.

According to him, a recent survey conducted by the NESG Fiscal Roundtable showed that a lot of Nigerians were actually interested in payment of taxes rather the challenge remains that the tax administrative process was inherently complex while majority of tax payers demanded value for money.

He observed further that the average Nigerian need to earn revenue to be able to pay taxes and to that extent government should create an enabling environment so that the average Nigeria could be engaged positively and become more productive.

“It is important that enabling environment will be created and then people should be put to work either on their own or private enterprenuership and then they should be supported. There has to be credit so that they can produce. We also have to encourage people to be more enterprising and once we do that, obviously it’s from what you earn that you pay government” he noted.

“Those who are employable should become employed, and those who can be self employed should be supported so that they can become more productive because without been productive, without doing something to earn revenue it would be a burden to expect someone to pay tax for nothing”