From Loans to Levies: How Fiscal Recklessness Is Crushing Nigerians

 

— Reactions trail Chief CBN Onwuasoanya Ezendigbo’s intervention on tax reform

Reactions have continued to trail the recent commentary by Chief CBN Onwuasoanya Ezendigbo on Nigeria’s tax reform drive, with many OrionTimes readers echoing deep concerns about governance, accountability, and the growing financial burden on citizens.

Chief Ezendigbo, in his widely read article, questioned the rationale behind aggressive taxation in a country where borrowed funds have consistently failed to translate into visible development. His position struck a chord with readers who believe Nigeria’s fiscal challenges stem less from insufficient revenue and more from persistent mismanagement.

One reader described the intervention as “the kind of questions true statesmen should be asking,” arguing that the current government has failed to demonstrate prudence despite extensive borrowing from China, the International Monetary Fund (IMF), the World Bank, and other multilateral institutions.

According to several reactions, these foreign lenders are no longer eager to extend fresh credit, not because Nigeria lacks potential, but because past loans were allegedly squandered with little to show in infrastructure, productivity, or improved living standards. Readers believe this dwindling confidence explains the government’s increasing reliance on taxation as a fallback revenue strategy.

“After borrowing heavily and mismanaging the proceeds, the easiest option left is to tax the people — even when there is nothing concrete to show for either the loans or the new taxes,” one reader noted.

Others questioned the moral basis of expanding the tax net in an economy where basic services remain poor and trust in public institutions continues to erode. For them, taxation without visible outcomes amounts to economic coercion rather than responsible governance.

Particularly troubling to readers is the ongoing controversy surrounding the recently passed tax laws. Some pointed out that the Committee-to-Committee (CTC) copies released by the House of Representatives reportedly differ in several key areas from the versions earlier promoted by tax reform advocates, including Mr. Taiwo Oyedele.

This discrepancy, readers argue, raises serious concerns about transparency, legislative integrity, and the sincerity of the reform process itself.

“If the laws Nigerians debated are not the same laws that were passed, then the process is fundamentally flawed,” another reader reacted.

Many concluded that Nigeria’s core problem is not taxation, but leadership discipline. Without accountability, fiscal responsibility, and a clear development framework, they warn that increased taxes will only deepen public frustration and economic hardship.

As reactions continue to pour in, one message remains consistent: Nigerians are not opposed to paying taxes — but they demand clarity, honesty, and results.

Until governance improves and public trust is restored, readers insist that moving “from loans to levies” will only worsen the very crisis tax reforms claim to solve.