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Business tycoon and software developer, Bill Gate has bared his mind on the issue of fuel subsidy, the new electricity tariff and taxation in Nigeria.
During an interview with The Cable, the American businessman said the complaints about taxation in Nigeria was borne out of trust deficit on the part of Nigerians towards the government adding that subsidies are used to enrich the wealthy rather than using it to better the lives of the masses.
He, however, urged the federal government to build its credibility in the minds of the people and thus increase tax collection.
According to him, Nigerians won’t have reasons to complain about taxes if they know that the taxes are being spent on viable services and not enriching the wealthy Nigerians.
Gate suggested that the Nigerian government should establish a good dialogue with the masses and be open with their policies noting that the subsidy is not the most effective way to do that.
However, many Nigerians have kicked against the decision of the federal government to increase the price of fuel and the electricity tariff at a time when many people are trying to recover from the adverse effects of the Coronavirus pandemic.
Also, there have been protests by some unions noting that the removal of fuel subsidy and the hike in electricity tariff is coming at a time when the federal government should rather provide palliatives for Nigerians.