Having said that, let me remind us once again that Nigeria’s problem is not that its national debt is too excessive. So, two things need to happen quickly in our debt economy if we want to get out of our present high debt service obligations and low capital budget spending. Using electronic VAT collection and remittance, for example, will increase the country’s current VAT receipts by as high as more than 500%. If we want to invest wisely and for healthy and productive citizens, we should make sure that such programmes should include rural water, public healthcare, public schools, and public transport. But to make all these possible and truly dynamic, we need to drastically reduce the current federal overbearing influence on the economy.

Source: Punch December 23, 2019 23:15 UTC