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An open letter to Dr(Mrs) Okonjo-Iweala, please ask Nigerians for ashared sacrifice of taxation to fund the federal government for a sharednational prosperity

By Abitunde Taiwo
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Dear Dr(Mrs) Okonjo-Iweala,

I thank you very much for your service to the Nigerian people. I also thank you and your family for the sacrifice you are all making through this service to the nation. May God bless you and your family for your sacrifice.

These are very difficult times in Nigeria:

1. Boko Haram has caused so many loss of lives and hostage and refugee crises.

2. There is a great insecurity of lives and property from armed robberies and kidnappings.

3. There is a very high unemployment of university graduates and others.

4. There are poor infrastructures nationwide that retard socio-economic growth in the country.

5. To make matters worse, there is an alarming and steady decline in oil revenues!

With the ongoing dramatic drop in oil prices, the clamor in the oil producing region of Nigeria for a greater share of the oil revenues, and the serious security and socio-economic problems in the country, I strongly urge you to urgently schedule a meeting with the President, the Senate President, and the Speaker to discuss the urgency and imperative of a new policy on government funding.

Please use your legendary oratorical gift to persuade President Goodluck Jonathan and the leaders of the senate and the house of representatives to adopt and implement, as soon as possible, a policy of taxation as the principal source of government revenue.

Even though 70 million Nigerians worldwide have a total yearly income of approximately one trillion US dollars, the federal budget for this is year is a paltry $30 billion US dollars, and is entirely from the sale of oil! This is incredible as global best practices support taxation as a principal revenue source!

In a nation of 165 million people, and with all the enormous challenges in the country, It is amazing that the federal government of Nigeria with oversight responsibility of 36 states, 774 local governments, and a federal capital territory continues to operate on a shoe string budget of $30 billion US dollars! It does not help matters that the distribution of this budget is a lopsided three to one ratio of recurring expenditures to capital expenditures.

A shared sacrifice of taxation is a civic responsibility that Nigerians will be persuaded to embrace with the understanding that the increased revenue from this taxation will be used to build the critical infrastructures that will promote socio-economic growth, security, and a shared prosperity in the nation.

Please see the links below that show how a revenue of $250 billion US dollars for the federal government using taxation as a principal component can be raised.

Again, I thank you very much for your service to the nation. May God bless you and your family.

Sincerely,

Abitunde Taiwo

Disclaimer: "The views/contents expressed in this article are the sole responsibility of Abitunde Taiwo and do not necessarily reflect those of The Nigerian Voice. The Nigerian Voice will not be responsible or liable for any inaccurate or incorrect statements contained in this article."