Why Nigeria Should Not Go Borrowing Again.

Nigeria should not go borrowing again, because we should have within Nigeria, much more than we wish to borrow. In my broadcast of April 08, 2016 titled, “Let Us Fix Nigeria Now – Part One,” I reproduced my broadcast of May 29, 2015 titled, “Nigeria Has No Business, With Indebtedness.” As we speak, we have many simple avenues to get as much money as we need, in Nigeria.

The first avenue is to ask our Central Bank to produce a list of all account holders, whose accounts total One Billion Naira, and more. Such accounts should be immediately frozen until the owners produce their proofs of earnings. If any of the owners have ever worked in the Government, it would be safe to assume that such money is a product of looted funds. But if the owners are in business, it will be safe to assume that such money is profit, and should be taxed accordingly.

And the second avenue is to tax all properties within Nigeria, starting from the Federal Capital Territory. And those Taxes are very easy to collect, if we adopt the American system of Property Taxation and collection. As once an American Property Tax payer, I know that if you fail to pay your Property Taxes, there are people standing by to pay them and later granted the right to sell those properties to get their investments plus very handsome interests.