Prince Adewole Adebayo, the Social Democratic Party (SDP) Presidential candidate from the previous election, recently voiced his concerns about the current administration’s emphasis on taxation over productivity. Speaking to reporters in Abuja, Adebayo highlighted the importance of prioritizing production for the long-term benefit of the country.
Adebayo expressed the view that while tax collection is essential, the government should not solely focus on this aspect. He stressed the significance of investing in key areas that have a multiplier effect on the economy. For instance, providing access to essentials like water, food, and the internet can significantly impact healthcare, productivity, creativity, and national security.
According to Adebayo, there is a need for a shift in mindset within the government, starting from the president to the economic team and all the way down to the cabinet. He emphasized the importance of reorienting leaders to understand that true progress lies in creating an environment that allows people to thrive and contribute meaningfully to society.
The Importance of Productivity over Taxation
Adebayo criticized the government’s current approach, where taxation has taken precedence over productivity. He argued that a myopic focus on tax collection could hinder overall economic growth and development. Adebayo highlighted the distinction between microeconomics, which focuses on individual transactions, and macroeconomics, which considers the broader impact on society as a whole.
In his view, the government should be more concerned with creating conditions that foster innovation, entrepreneurship, and the export of intellectual property. This requires investing in infrastructure, such as reliable electricity, affordable housing, and efficient transportation systems. Adebayo pointed out the challenges faced by transporters due to high fuel costs, leading to overloading of vehicles and subsequent accidents and delays.
Building a Future for Nigeria
Adebayo underscored the importance of laying the foundation for a sustainable future by prioritizing productivity over taxation. He emphasized the need for a holistic approach that considers the well-being of the population at large, rather than just focusing on revenue generation. Adebayo’s vision for Nigeria includes a thriving economy where individuals can harness their potential and contribute to national growth.
In conclusion, Prince Adewole Adebayo’s call for a shift towards productivity-driven policies resonates with the need for a balanced approach to governance. By investing in key sectors that have a multiplier effect on the economy, Nigeria can pave the way for sustainable development and prosperity for all its citizens. Adebayo’s insights serve as a reminder that true progress lies in creating an enabling environment where innovation, creativity, and productivity can flourish.
