Amid the economic hardship occasioned by the fuel subsidy removal policy, an economist and financial expert have advised President Bola Ahmed Tinubu to reduce personal and company income taxes.
An accounting and financial development Don at Lead City University, Ibadan, Prof Godwin Oyedokun disclosed this on Monday as a solution to Nigerians’ economic woes.
Recall that fuel pump prices increased to over N600 per litre upon the petrol subsidy removal by Tinubu’s government.
Consequently, June’s inflation went up to 22.79 per cent with the hike in transportation, food and service prices.
Oyedokun said the government should temporarily work towards increasing Nigerians’ disposable income by reducing personal income tax.
“I would love a situation where the government reduces personal income tax. The government cannot guarantee the salaries of private companies, but it can lower personal and company income taxes. So that companies and individuals can breathe”, he said.