{"id":141799,"date":"2022-01-30T12:01:44","date_gmt":"2022-01-30T11:01:44","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=141799"},"modified":"2022-01-30T12:01:44","modified_gmt":"2022-01-30T11:01:44","slug":"pwc-explains-why-fg-should-focus-more-on-economic-growth-not-tax","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/01\/30\/pwc-explains-why-fg-should-focus-more-on-economic-growth-not-tax\/","title":{"rendered":"PwC explains why FG should focus more on economic growth not tax"},"content":{"rendered":"<p>Chief economist of PricewaterhouseCoopers (PwC), Andrew Nevin has stated that the federal government should focus more on economic growth and not just tax.<\/p>\n<p>This was disclosed on Saturday by Nevin at the Nairametrics economic outlook 2022 themed, &#8216;Your Money, the Economy and Government Policies\u2019, held virtually.<\/p>\n<p>While highlighting some measures that Nigeria needs to consider to ensure economic growth, he said there should be more on <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/10\/afreximbank-to-nipc-attract-more-foreign-direct-investments-into-nigeria\/\">investments<\/a> to\u00a0boost revenue generation.<\/p>\n<p>According to him, areas that can shape Nigeria\u2019s economy in 2022 include, harnessing the power of the diaspora, driving export growth through services, and addressing climate-related issues.<\/p>\n<p>\u201cI have never been more optimistic than I am in the past 13 years of being in Africa. The growth in the country has changed shape in five years. Our GDP growth increases but we are not pushing enough of it into investments. We need to at least invest 28 percent to 29 percent of GDP,\u201d Nevin said.<\/p>\n<p>\u201cAfrica can\u2019t be prosperous by just exporting raw materials. Africa needs to have more intra-trade to increase wealth.<\/p>\n<p>\u201cI also think Nigeria is on the right direction for initiating digital tax. However, we suggest that the government focus on money economic growth rather than tax, for it is difficult to raise tax when the country isn\u2019t growing. It is also easier for businesses to pay taxes when they are doing well.<\/p>\n<p>\u201cThe agricultural sector is a key aspect that needs to be looked into. The issue of insecurity affects food security and the exchange rate is depreciating and that increases inflation. Until we solve the issue of investments, we wouldn\u2019t solve inflation.<\/p>\n<p>\u201cWe need to attract investments to be able to close the gap.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chief economist of PricewaterhouseCoopers (PwC), Andrew Nevin has stated that the federal government should focus more on economic growth and not just tax. This was disclosed on Saturday by Nevin at the Nairametrics economic outlook 2022 themed, &#8216;Your Money, the Economy and Government Policies\u2019, held virtually. While highlighting some measures that Nigeria needs to consider [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":76900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[28840,83,12663,28839,12856],"class_list":["post-141799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-andrew-nevin","tag-insecurity","tag-investments","tag-pwc","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PwC explains why FG should focus more on economic growth not tax<\/title>\n<meta name=\"description\" content=\"Chief economist of PricewaterhouseCoopers 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