By Ugochukwu Ifeanyi.
With the transition from an exporting/production nation in the 60s to the importing/consumption mode of Nigeria, it has become increasingly difficult to compete favourably in the global market as well as guaranteeing a better quality of life owing to the dearth of industries and SMEs between the 80s and 90s.
Now reliant on importation, importers struggle with making profits owing to the fact that the consumption of the goods relies heavily on the economic power of the Nation, which is quite low at the moment so there’s no money to shop, which means incredibly low sales coupled with the outrageous taxation at the FG, State and LG levels, which further means the importer is forced to hike the prices of the products in order to meet up
Sen Dr Ifeanyi Ubah’s motion is superb and timely especially now that the economy is languishing under the crushing effects of the pandemic, reducing the taxation on imported goods is very vital to the recovery of the economy of the Nation as it will lead to a reduction in product prices, which will attract more consumers and thus, positively drive the economy back to a healthy state. Importers can now reinvest the excess cash freed up by the reduction in taxation to other ventures or increase product importation
Sen Dr Ifeanyi Ubah remains acutely in tune with the yearnings of the people and coupled with his amazing understanding of economics, he has established himself as not just an amazing representative of the people, but also a true economic leviathan
This and more, is what Anambra State stands to enjoy between 2022 and 2031, under the administration of Sen Dr Ifeanyi Ubah! .. Prosperity, Diversity, Progress and Comprehensive Security