By Akinnodi Francis, Ondo

Governments can pursue other strategies to drive economic growth and revenue generation without overburdening the citizens with taxes.

An economist, Professor Timothy Awe said this while speaking with The Hope recently.

Awe explained that taxation is not an extraordinary achievement;any government can impose taxes. The real challenge lies in efficiently managing limited resources while fostering economic growth.

“This approach, coupled with curbing corruption, inspires confidence in governance and encourages voluntary tax compliance, ultimately increasing Internally Generated Revenue (IGR) and building a robust, sustainable economy.

“However, simply creating new taxes in an environment plagued by corruption and economic hardship is a recipe for disaster, a ticking time bomb.

“Some naive supporters may applaud, claiming that citizens are content. In reality, this is merely the “silence of the graveyard,” signaling either a spontaneous revolt or a backlash at the ballot box during elections.

“Governments can pursue other strategies to drive economic growth and revenue generation without overburdening citizens with taxes. These include cutting wasteful spending, reducing public-sector corruption, encouraging investment, promoting Small and Medium-sized Enterprises (SMEs), and leveraging natural and human resources efficiently.”

According to him, ultimately, when leaders fail to learn from history and rely solely on taxation without structural reforms, they risk pushing the nation towards unrest and stagnation.

He noted that sustainable growth demands transparency, accountability, and innovation, not just taxes.