The Sharp Rise In Cost Of Living

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Highlights of the 2022 Multidimensional Poverty Index survey by NBS and others revealed that 63% of persons living within Nigeria are multidimensionally poor. This is another way of saying that 133 million people are either unemployed or under employed. It is therefore essential that we increase production in the country so that more people can be employed.Without reducing importation, local production cannot thrive.

Many leaders in Nigeria seem to have forgotten that education is a major promoter of productivity and increases in economic wellbeing of nations. Better skills and training enable workers to exploit their talents and abilities and produces higher quality labour. Multiple taxations manifest in many ways: Various unlawful compulsory payments are collected by the local and state governments without appropriate legal backing through intimidation and harassment of the payers. Collection of it is characterized by the use of stickers, mounting of roadblocks, and use of revenue agents/consultants including motor-park touts; situations where a taxpayer faces demands from two or more different levels of government either for the same or similar taxes.

 

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