Yesterday, I posted excerpts from a recently published research into the economy and some people think it was a beer parlour article.
Now, the nation’s debt profile is huge and it cannot be managed, pegged or sustained.
None of the money borrowed so far can be seen on capital projects and infrastructures. Even Fashola lamented recently that there is no money to execute capital projects and you now wonder what happened to all the money borrowed for such.
Government is not generating enough money to plug its appetite for borrowing due to their poor 18th venture economic blueprint or even lack of any.
They are borrowing money and CBN has been the one propping them up. Now, CBN knows it has to draw the line as they are at that tipping point.
One of the proposals CBN gave the FG is to find other non-oil related means to generate income from.
So since then, cashless policy, toll gates and communication tax have been thrown to the air.
The funny thing is that there are more to come.
What makes communication tax funny is that they believe you people at home talk too much. So if you are ‘taxed to talk’, you will stop talking about them. I am laughing hard here.
So people, brace up. Your govt has no money due to mismanagement. Much of what was borrowed last year was wasted on a bought and rigged election!
You can waste money to buy election and not lack money to run the government. And you they dashed money to buy your votes, welcome to reality....you are about to pay for it through all means.
In a nutshell, get ready for more tax.
Some said but we in the West pay more tax on barely everything....YES! We do!
Unfortunately, back home, you don’t have accountability and you don’t know who to hold responsible for misappropriated taxpayer’s money. That’s the difference.
We see what our tax money is being used for. I know to the last penny the percentage of my tax contribution last year that went to the military, education, health, local council and etc.
As for you, is it Nasir Danu caught at Heathrow shuttling money for your 1st Lady that you will be asked to explain how he got the cash on him? Or is it Maina or Amaechi that spent Billions on 1.6km metro rail that is inexistent that will be held accountable for any misappropriated money?
Over to you!
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