Learn From Canada Prime Minister, Peter Obi Advises Tinubu And State Governors

Learn From Canada Prime Minister, Peter Obi Advises Tinubu And State Governors....KINDLY READ THE FULL STORY HERE▶

Former presidential candidate of the Labour Party, Peter Obi, has called on the federal government led by President Bola Tinubu and state governors to take a cue from Canadian Prime Minister Justin Trudeau on supporting Small and Medium Enterprises (SMEs). Obi highlighted excessive taxation on Nigerian Micro, Small, and Medium Enterprises (MSMEs) as a key factor hindering economic growth and Gross Domestic Product (GDP) expansion…….. CONTINUE READING

In a video shared on his social media handle on Saturday, Obi emphasized the importance of leadership in fostering an environment that encourages and inspires small business owners, citing Trudeau’s recent visit to the African Small Business Event in Toronto as an example.

“Leadership is about doing the right things, encouraging citizens, especially the youth involved in MSMEs, which are crucial for economic growth,” Obi remarked. “Just yesterday, Prime Minister Justin Trudeau was seen at the event, visiting various business stands and offering encouragement.”

Reflecting on a video showing Trudeau engaging with a Nigerian entrepreneur, Jacinta Obinugwu, who runs a candle business in Canada, Obi contrasted this with the challenges faced by small business owners in Nigeria, including harassment by revenue collectors.

“If Jacinta were in Nigeria, she would likely face harassment from various revenue agents demanding extortionate levies. Small business owners here rarely receive visits from government officials unless it involves revenue collection,” Obi lamented.

Obi stressed that Nigeria’s MSMEs grapple with heavy taxation, limited access to funding, high production costs, and economic instability, all contributing to dwindling sales and hardship.

“A committed government should ease the tax burden on small businesses and prioritize economic growth through investment and support for the poor,” Obi advocated.

Recalling comments from the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, Obi echoed the sentiment that Africa’s informal sector should be nurtured for long-term inclusive development rather than subjected to immediate tax extraction.

“Small businesses should be seen as seeds for inclusive development, not just short-term revenue sources,” Oyedele had stated.

Obi’s call underscores the need for strategic policies that support and empower MSMEs, aiming for sustainable economic growth and prosperity.

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