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Public commentator, Mahdi Shehu, has blamed anti-people government policies, as he described them, for the worsening economic hardship in Nigeria.
Shehu made the remarks in a post he shared on Tuesday, where he criticised what he called policies driven mainly by revenue generation without looking at their impact on the citizens.
‘There is no meaningful progress in any society with such policies,’ he said.
“Bad government policies, unpopular government policies, anti-people government policies, anti-progress government policies,” he said.
“When government policies lean more toward revenue than the welfare of the citizens, the economy and society suffer,” he said.
“You will not see progress anywhere policies are skewed to get more revenue without considering the consequences and the burden of those taxes on the lives of citizens,” he said.
Shehu also criticised what he called a growing culture of over-consumption and borrowing among citizens, saying it erodes economic stability.
A society can’t grow when the people spend more than they make and go into debt, he said.
“It is impossible to build a healthy society where people are aspiring to spend ostentatiously, spending more than they earn and pushing themselves into a debt trap,” he said.
The commentator added that Nigeria’s heavy reliance on imports is also affecting economic growth.
“Any country that’s based on importation for its consumption, that country cannot grow,” he said.
He warned that a society with little or no capacity to save and invest cannot achieve sustainable development.
“Where you can’t save, where you can’t invest, where you consume everything, your name is a spectator,” he said.
Shehu called for a change in the economic mindset, advocating policies that would promote production, savings and investment rather than over-reliance on consumption and importation.
