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Open Letter To The President By Temi Ajijola by savcy(m): 12:14pm On Oct 02, 2015 |
#NigeriaAt55 | An Open Letter to the President of Nigeria,
Mr. Buhari.
Mr. President,
Please accept my sincere congratulations on the
anniversary of Nigeria’s 55th Independence. I wish you and
members of your family and cabinet a Happy Independent
Day. Also, let me use this medium to congratulate you on
your recent victory and emergence as the President of
Nigeria. I wish you the very best.
Millions of Nigerians share common objective of seeing a
greater Nigeria as we start a new phase in our emerging
democracy especially with the major promises or let me
say, anticipation of greater country with the coming in of a
new administration and political party altogether at the
centre. Naturally, we expect a different approach where
things haven’t worked out well for us as a Nation and a
continuation and even higher velocity in areas where things
are working for us.
Speaking about things that is working for us or not, I will
like to quickly draw your attention to a few areas where I
believe you should now focus your attention and of course,
more resources – Wealth Creation.
When I say wealth creation, I mean empowerment of your
people to create wealth for themselves, which will
ultimately be a bigger source of revenue to Nigeria than the
conventional oil wealth we have known before now. Permit
me to share this idea with you, Sir.
Nigeria must totally move on from dependence on oil
wealth. In the most developed countries of today, oil
wealth isn’t among the top sources of income. At 55 years
old, Nigeria is overdue in taking its own place among the
committee of world’s richest countries. What is the secret?
If you carry out research on why the rich countries are truly
rich and financially independent and stable, they all have
something in common. Their citizens are rich. They have
been empowered to make money and the more money the
citizens make, the more money the government makes in
the form of tax.
Companies like Google, Microsoft, Facebook, GM, to
mention just a few, have more money than many countries
of the world today and it’s actually sad to say this Sir,
including your own country Nigeria. The annual budget of
Google for instance is much bigger in multiple folds than
that of Nigeria. Now imagine the kind of tax money Google
pays to the US Government. Sir, until you turn your
attention to the income from tax, we will continue to
struggle as a nation. Oil money must be supplementary.
Let’s come back home. How can we achieve this in
Nigeria? It is very simple sir. Do you have a record of the
number of Small & Medium Scale businesses in Nigeria? I
am not sure this information is readily available to you sir.
Do you have a record of take for instance the number of
road side mechanics we have in the entire country? Or
maybe in major cities like Lagos, Kano, Ibadan, Port
Harcourt, Abuja, etc.? I am also not sure this information
is readily available to you. I am sure you now get my point
here Sir. If we don’t have this information, it is very much
impossible to know how much wealth we generate from
SMEs.
How can we make this happen?
1. Register them
Firstly Sir, make it very very easy for SMEs to register their
businesses. Please pardon my use of the word ‘very’. I was
only trying to make you see the emphasis. In fact, if it is
logistically possible, let us get Corporate Affairs
Commission (CAC) staff to physically visit SMEs we have
in the country, starting with a pilot state or states, maybe
two or three. Take for instance, Lagos and Abuja. Get them
to register as easy and cheap as possible. In fact, I will say
for free. For the sake of example, let’s focus on Road Side
Mechanics here.
2. Screen Them
How do we screen these people? How many of them did
we register? Let’s assume we registered five thousand
(5,000) mechanics. Questions that easily come to mind
are:
a) How much do they need to operate a standard Garage?
b) How many staff will they need to run the garage?
c) How much space will each require? A plot? Two plots?
d) What kind equipment will they require to operate?
e) Etc.
All of these questions will be answered by trained
personnel or government consultants so at the end of the
day we can actually come around three thousand (3,000)
genuine businesses after much screening.
3. Establish Them
Empower the Bank of Industry or any other financial
institution approved by the government to set them up for
them a proper Car Garage business. Let’s assume each of
the 3,000 requires One Million Naira (N1m) each to start
up. The government has only invested how much now?
3,000 x N1000000 which Three Billion Naira (N3bn). This is
enough to set up three thousand SMEs (Garages) in two of
the busiest and most profitable cities in the country.
4. Control Investment
Appoint collection banks and/or agencies that will work
with, report and consult with each of the mechanics.
These people will act as cashiers and all cash payment for
services will go to them so as to help the Garage owners
from mismanaging funds. Why are we doing this? Each of
the three thousand businesses will sign agreement with
the government that every month, they pay back a fixed tax
amount into the government account for a number of
years, say 10 years after which they will be subjected to
paying standard tax rates because they will grow bigger.
5. How will the government make money?
Mr. President, let’s do a little calculation here. If they pay
back Twenty Thousand Naira (N20,000) monthly for the
next 10 years. That will be N20000 x 120months x 3000
SMEs which will give the government Seven Billion Naira
(N7bn). This is the least the government will make from
3000 local mechanics because after 10 years, 3000
garages will most definitely have multiplied by another 50%
as they will grow bigger than this. And how much did we
invest? N3bn. That is a profit of N4.2bn minimum. We are
only talking of two cities Sir.
There are other SMEs we will empower. We have Salons,
Hotels, Agriculture (Fish, Cattle, Poultry, Piggery), Plastic,
Medium Scale Manufacturing, etc. If we make N4bn in
each of these Sir, we are talking of multiple means of
income for the government from difference sources of
income.
Immediate Tangible Benefits
1. Wealth Creation
2. Multiple Job Creation
3. Higher Standard of Living
4. Economic Growth
5. Peace in the country
What more? Your government will definitely have more
time to focus on the major government business that
major on industrialization in the country and International
Businesses, Image Advancement and Security in the
region.
Mr. President, this is a little bit of my contribution to the
country at 55 years independence. I believe if you take this
blueprint and make sincere efforts to implement them, we
will experience massive growth in the economy which I
believe is one of the biggest issue and plans the
government has.
Once again, Happy Independence to Nigeria.
Respectfully,
Temitope Ajijola 1 Like |
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