"Nigerian Peoples' Marshall Plan", A Solution To Nigeria's Economic Woes
Dear Vice President President Muhammadu Buhari and Vice President Yemi Osinbajo,
This is a follow up to the public letter I wrote to you on a proposal for a monthly infrastructure tax of a minimum of 1% of the incomes of Nigerians worldwide. Please see the link below for the published letter:
This monthly infrastructure tax, if implemented, widely promoted, and allows for secure online payments, will provide additional funding for building the infrastructures that will accelerate the socio-economic development of Nigeria.
Some Nigerians may even choose to pay more than the minimum tax I propose.
A separate account should be set up for these payments that will serve as a supplement to the federal budget allocations for infrastructures.
This supplementary account for economic infrastructure investments(S.A.F.E account) will serve as a vehicle for engaging citizens' participation in the reconstruction and rehabilitation of the economy of the nation: a "Nigerian Peoples Marshall Plan"!
As you know, Nigerians are hardworking and enterprising people. A rough estimate of the combined annual income of 70 million Nigerians worldwide, 20 million resident overseas and 50 million living in the country, is the equivalent of N120 trillion.
One per cent of this is more than one trillion naira per year! Imagine the socioeconomic impact of an infrastructure tax revenue of over N1 trillion naira annually spent on numerous infrastructural projects in each of the six geopolitical regions of Nigeria! Nigerians worldwide may be persuaded to pay this infrastructure development tax if the following conditions are met:
1. A seven member Infrastructure Development Commission is set up that comprise persons of unassailable character, competence, and proven ability, one from each geopolitical region, and headed by Vice President Yemi Osinbajo to monitor and supervise the use of the infrastructure tax funds.
2. All governors and legislators in Abuja and nationwide follow the example that you have set by taking a significant pay cut.
3. Clear goals are set and the infrastructure projects are undertaken in all the six geopolitical regions in the country.
4. Transparency, accountability, and sustained communication with the people on the projects undertaken.
5. Transparency in the use of recovered loot from the past from corrupt persons for the provisioning of social, educational, and health services to the Nigerian people.
6. National re-orientation and civics training from primary to university and beyond with active participation and promotion by the media, educational, and civil society organizations.
Imagine the positive socio-economic impact of numerous infrastructure projects on:
1. Employment of youth: significant reduction of poverty, social vices, and crime.
2. Road and railway networks, waterways, and airports: Reversal of rural-urban migration and urban de-congestion.
Ease of transportation and the integration of the states. Agriculture and rural development and agro-industrial businesses located in the interior of Nigeria.
Ease of access to the tourist locations that are abundant in Nigeria which will promote tourism and boost employment and economic growth.
3. Boosting power supply: reduction in the cost of doing business and the cost of living of the people.
4. Boosting water supply: improvement in public sanitation and health.
5. Educational, surveillance, and Health infrastructures: human capacity development, improved security, and the promotion of public health.
Please ask Nigerians around the world to make the financial sacrifice required to build the infrastructures that will spur socio-economic growth in the country. Nigerians around the world are vociferous critics of government because they want good governance and prosperity in Nigeria.
The infrastructure tax I propose will give Nigerians a great opportunity to become partners of the government to achieve these objectives.
Thank you very much, Your Excellencies, for your service to Nigeria in these challenging times.