-Development expert Micheal Ale warned the Federal Government against implementing tax reforms he believes could worsen poverty in Nigeria, describing the proposed reforms as “a grossly capitalist policy.”
-Ale argued that the reforms would deepen the wealth gap, making the poor poorer and the rich richer, and would ultimately harm economic growth by burdening citizens with additional taxes.
-He emphasized that sustainable development goes beyond increased revenue, requiring attention to environmental and social factors alongside infrastructure development.
-Ale suggested a progressive tax system where individuals and businesses are taxed according to their financial capacity, and advocated for stricter corporate social responsibility measures.
-He recommended that government revenues be directed toward research, job creation, and human capital development to ensure long-term economic benefits, while promoting policies that ensure inclusivity and equity.
Peoplesmind
