10 DANGER SIGNS THAT MAY AFFECT THE PROSPERITY OF NIGERIA IN 2020 BY DR.GBENGA ADEOYE. - THE BUSINESS PACKAGE

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Thursday, January 23, 2020

10 DANGER SIGNS THAT MAY AFFECT THE PROSPERITY OF NIGERIA IN 2020 BY DR.GBENGA ADEOYE.



1. We practice Unitary System and not Federal System .

That is the real issue.Until we reduce the central power and empower the states.

Thank God for the autonomy of Local Government.I commend the FGN for seeing it through.

2. Security problem is now at a  ridiculous state.Almost Every states now doubt the police capacity to secure their people. 

A situation where  someone sit down in Abuja and tells me what to do at Lemo Compound...Erunwon, Ake Abeokuta or at Owojo Village, Oyebola..Erunwon, Ajebo, Alapako or Obafemi or Owode is just the height of deception .

I can walk through some path within compounds  from Ibara to  Omida up to our house at Erunwon passing Ijemo or Sodeke side.

Same apply to moving inside bushes from Ajebo to Abatan and then to Erinle and Owojo and then to Ijemo, Olugbo and Odeda.

If I know such routes simply because I grew up here in Egbaland...Then it is foolish to send one man from Adamawa or Kano or from Warri to be a police man in my own area.

That is where we are missing things.We all know but we don't want to accept the reality that our  conscience is affirming  daily.

3.We need to discuss Nigeria again.This is very vital.How can you be avoiding the major cause of your crisis.? Imagine if you have problem with a particular food and you refuse to tell your wife to eliminate it from your menu, you will continue to suffer.

4.Meanwhile,discussing the Unity and way forward for Nigeria is the most reasonable thing to do. it will lead to prosperity if we go into regional system .

States will think out of the box.

5. How can a state full of wilderness and no serious effort on IGR  be collecting money that Lagos ( State of stress and traumatic  traffic ), Ogun, Oyo, Kano and Rivers are sweating to provide through taxes ? Does it make sense ? Let us be sincere ooo.

6.Tax derivation is very important now.Time is also of essence .If we don't act now, things may get worst.

My worry is that people who spoke in favour of regional system before are not talking anymore.

The reason is very simple..The selfish ones enjoying the wealth of the nation are trully  selfish and they are not thinking of the coming generation .

7. When you look at the security situation in Nigeria; it is a systemic problem.How can you have all sorts of security outfits in  different states as we do now when we have the Police, the army and so on.

Almost all estates and communities have their own private security arrangement. Is that right.?

Amotekun in South West has now shown that almost all the state has something similar.That shows a systemic failure .


8. I will end with this proverb in Yoruba...which means when you concentrate your effort on the wrong side, you will waste your resources and energy..

(Eni to doju odo bole to fe gunyan fun gbogbo ile Yio Kan Laagun lasan ni..Atun fisu sofo lai gunyan to nilaari. ( Personal Proverb )

We are just wasting our so called  efforts.

9. Imagine you claim to have removed VAT from Income that is less than N25m a year. These categories are the highest number of tax payers.

You talk of informal sector..They are so many in the category of less than 25m a year.How do we bring the culture to majority of the people of our country and make Tax Compliance part of everybody.

It is never to late to review the laws.

It should be noted that 2020 may be the worst in absolute terms of tax collection.( My projection) 

10 You want to kill the few  big companies that are paying instead of widening the tax base and net.

These big ones making 25m and above and for Company Tax those with  100m and above as turnover are not stupid to react.

Policy made by people who do not consult properly with experts and also lack the  understanding of Economics or too busy to cross the t's and dot the i's .

You have more tax payers..existing and potential within a threshold and that is the group you are exempting ...(I laugh in  French.) 

We just need to discuss this country sha.

If we must move forward we must stop pretending that all is well.

Dr. Gbenga Adeoye.

Dr. Adeoye is a Fellow of ICAN, Fellow of CITN, 

Fellow of The Chartered Institute of Management Consultants,
 He is an Arbitrator of UK and Nigeria. 

He holds a Diploma in Criminology and  Security Studies .

He is a Good Governance and African Economic Analyst.

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