Analysis
How Africa’s Leaders Stifled Economic Growth with Fiscal Policies in 2024
Economic reforms foisted by state governments affected economies across the continent.
Favour Adeboye
December 31, 2024
Economic reforms foisted by state governments affected economies across the continent.
PoS agents are not just a convenience in Nigeria; they are the backbone of financial access for the underbanked and the unbanked. In areas where bank branches are non-existent, these agents are the last lifeline for rural dwellers.
During inflationary surges, such as the one Nigeria currently endures, additional money in workers’ pockets often serves as a stopgap measure rather than a solution to underlying issues like food insecurity.
Professor Oluwatoyin Ogundipe, Vice-Chancellor of the University of Lagos, put it succinctly: “Nigerian universities need to focus on developing skills that are relevant to the modern job market.”
In this report, MANASSEH MBACHII, a fellow of the Liberalist Centre’s Journalism for Liberty Fellowship uncovers how traders in Benue State, Middle-Belt Nigeria are forced to pay taxes and levies yet they get no benefits from the government, as they still pay more to provide the same amenities for themselves.
Apart from the fact that for the past decade, multinational firms have either exited or signaled their intention to leave the country, Nobel Prize-winning economist Angus Deaton warns that such taxes often backfire, prompting the wealthy to hoard assets, evade taxes, or relocate to friendlier jurisdictions.
Over the past eight years, 39 African countries significantly improved in their visa openness scores, indicating substantial progress in facilitating easy travel among the affected nations.
Several African countries have a similar habit of protectionism, especially the act of restricting imports in favour of local products. But this is at the detriment of consumers who could have enjoyed lower prices of goods.
One way to look at the TFTA is that it complements rather than duplicates AfCFTA efforts. This strategic approach recognises regional economic communities as building blocks for continental integration.
Thousands of Nigerian civil servants are put to the test of eternal misery when their state governors have not shown proper commitment to pay the 70,000 approved minimum wage.
A new N50 transfer levy could push millions back to cash transactions and harm fintech growth, experts warn
Nigeria’s tax reform could ease living costs, but a looming tax hike on non-essentials would sting consumers.
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