Why the poor stay poor: The problem is unrestrained capitalism - Vanguard News Nigeria

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Why the poor stay poor: The problem is unrestrained capitalism vanguardngr.com vanguardnews

When will we see that beyond APC or PDP our problem is the extreme form of capitalism we practice which legitimizes prioritizing the comforts, needs and financial opportunities of the rich at the expense of everyone else in society?

Discussions about restructuring our system only seem to tackle resource sharing, meaning the funds which are accessible to public officers, and not the mechanisms which are ultimately responsible for mass poverty or redistributive policies to create a fairer, more equal society.Nigerians treat equality like it’s a bad word: we prefer token charity initiatives and drop-in-the-ocean philanthropy to discussions about systemic change which could lift millions out of poverty.

Proof of this is that there is still little support for this administration’s efforts to widen the tax net: typically, in Nigeria, only civil servants pay regular taxes often because they have no choice . But who remembers former minister of finance, Okonjo-Iweala’s, 2014 report? She revealed the then federal government had lost N800 billion to tax waivers and concessions granted to various businesses between 2011 and 2013.

Femi Falana recently spoke out against the practice of allocating oil blocs to individuals and international oil companies. Indeed, the Nigerian economy, an extreme take on capitalist ideology, allows and encourages the concentration of wealth in the hands of a few. Military governments awarded our resources to their cronies and such habits are responsible for Nigeria difficulty in producing an entrepreneurial class which doesn’t rely on government favour, contracts or advantages to survive.

 

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vanguardngr Non of Nigeria State Governor can manage his State Successfully..... Too bad.

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