Tuesday , December 7 2021
Atiku Tasks FG on Tax Cut, Single Exchange Rate for Economic Growth

Atiku Tasks FG on Tax Cut, Single Exchange Rate for Economic Growth



Nigeria former vice president, Atiku Abubakar, has called on stakeholders and elder statesmen to intervene in the governance of Nigeria, noting that this administration lacks the capacity to address the nation’s current challenges.

He however recommended that Nigeria must move towards a single exchange rate to be determined by market forces, reduce taxes to make Nigeria more business friendly and free financial and monetary institutions from the type of political influence that resulted in the prohibition of Bitcoin and other cryptocurrencies.

He added that the government needs to act on these urgently if they want to increase capital inflow.

Atiku stated this against the backdrop of a report from Bloomberg Business on March 27, 2021 which said Nigeria is to emerge as the nation with the highest unemployment rate on Earth, at just over 33 per cent.

The former vice president who said he has never felt so bad at being proven right, said it was regrettable that repeated warnings by himself and other patriots on how to salvage the nation were scorned at.

 

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In a statement he personally signed yesterday, Atiku said, “First, Nigeria must move towards a single exchange rate to be determined by market forces. Secondly, the federal and state governments must reduce taxes, to make Nigeria more business friendly. And finally, financial and monetary institutions, like the Central Bank of Nigeria, and the Securities and Exchange Commission, must be free from the type of political influence that resulted in the prohibition of Bitcoin and other cryptocurrencies.

“We are at a precipice as a nation and the truth is that all stakeholders and elder statesmen have to speak up on time, while there is still Nigeria to save. This government obviously lacks the capacity to address our current challenges, and we must help them, not because of the government, but because of our people.’’

“In a situation where we are simultaneously the world headquarters for extreme poverty, the world capital for out of school children, and the nation with the highest unemployment rate on Earth, there is a very real and present danger that we might slip into the failed states index,” he said

 


About Bukola Olanrewaju

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