Economic Policy Options for a Prosperous Nigeria by Paul Collier, Catherine Pattillo, Charles C. Soludo

By Paul Collier, Catherine Pattillo, Charles C. Soludo

This e-book demonstrates that there's enough facts at the Nigerian economic system and society to notify many coverage matters, and divulges the present difficulties and coverage innovations democratic Nigeria might want to debate and get to the bottom of. It provides an time table of reform as unfinished enterprise.

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This administrative burden represents one of the worst worldwide and is well beyond the best practice of 12 hours that prevails in the UAE. This administrative burden is compounded by the fact that taxes are administered by all three tiers of government. While each tier has a distinct role, there is insufficient coordination of these roles. The impact is a system of multiple taxes and a proliferation of taxes, some of which are illegal and not ratified by the appropriate legislature. In an attempt to improve revenue collection, many state governments have handed over their tax collection to private contractors, practising a system of tax farming that results in arbitrary assessments and the use of coercion (moral and physical) which all but destroys the integrity of the tax system in the eyes of individuals and businesses.

These average about 25–30 days, which is five times higher than international best practice standards. This results in severe congestion on the quays and further falls in container handling speeds due to congestion. 2 million twenty-foot equivalent units (TEU) at operational levels in line with international standards but it is only handling 350,000 TEU and with great difficulty, as evidenced by the long queues. As a result of these inefficiencies, costs of shipping spiralled upwards. The shipping lines have imposed surcharges of around $700 per TEU to cover the time ships spend waiting, adding about a third to freight rates from Europe.

Osili showed the impact of education for women on household well-being, through smaller families and healthier children. Here we see one way this came about – by providing the opportunity for more women to join the labour market. Aromolaran also estimates that implementation of Universal Basic Education (UBE) could result on close to a doubling of the labour market participation rates of women, which the other chapters in this section would suggest could have large social returns. To conclude, Nigerians confront the paradox that, despite three decades of oil revenues, the services normally provided by government are unusually bad and the scope for ordinary people to earn a decent living is unusually limited.

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