By Adeyinka Adeniran
An entrepreneur and Chairman, Self Reliance Economic Advancement Programme (SEAP) Holding Company, Dr Olatunde Oladokun has urged the government to factor small businesses who have at least a thousand employees for palliative as forms of tax reliefs among other benefits.
He also advised the FG to send palliatives through entrepreneurs saying the palliatives sent so far went to wrong hands.
He spoke in a remark at an event organised to celebrate his 60th birthday anniversary at the International Conference Centre, University of Ibadan, Ibadan.
The event had in attendance traditional rulers, community leaders, religious leaders, business partners, associates, friends and family members who came from both within and outside the country.
He also cried out that many private firms are loosing their staff in droves to government establishments, noting that with the recently approved minimum wage by the government is making the private companies struggle to retain their staff.
He however said, when people leave the private sector for the public sector, it has a way of affecting the turnover and input of the sector to the national economy.
Oladokun said “Taxes are very good. It develops the nation. It makes the economy to move forward. But the question is, are we really compensating people that are paying these taxes very well?
“Government is sending a lot of palliatives. Ask how many entrepreneurs are really enjoying this thing. We are not talking of entrepreneurs that is having five staff, two staff, three staff. But those who have thousands of people on their payroll.
“Even to get funding, it’s has been tough. Frequent changes in policy is killing businesses. Palliatives are going to wrong hands. Distribute the palliatives through entrepreneurs so that they can reach the downtrodden.
“They are talking about palliatives, how many entrepreneurs are really enjoying this? We are not talking about entrepreneurs that have one, two or three staff but entrepreneurs who have about 1,500 or 2,000 staff. I have tried it. They just begin to change policies. Not giving palliatives to entrepreneurs is killing businesses. Many people like me have to go to the open market and get loans.”
Oladokun, who said he has over 2,500 staff to manage his companies across the country lamented the high rate of poverty saying despite various interventions of the government, poverty is still on the high side.
“When you look at the level of poverty in the country, it is on high rate. With all the interventions of the government, you discover that poverty has not reduced. It is because those who are suppose to reach out to the people are not doing so, despite governments genuine effort.
“Now, Federal Government is talking about N70,000 minimum wage. How do they expect the private sector to pay it. They keep losing staff to government institutions.
“The government is not building the structure; it’s like there is error somewhere. What is the private sector getting in return for the taxes they pay? Look at the taxes they are paying and ask them what can we do to support your businesses so that you can employ more staff.
“Look at many states now employing people into civil service. People are leaving private sector because the sector cannot pay what the government are paying. They are destroying the private economy that is suppose to drive the nation. To eradicate poverty in this nation, we have to be sincere with ourselves. We are not sincere in this nation.”
To reduce the pressure on the government, he called on Nigerian billionaires to support the economy by establishing factories and engaging people, saying such effort will reduce the massive migration of youths from the country to developed world.
“There are many ways people can support the economy of Nigeria to grow. Most of our billionaires are hiding because of the sources of their wealth cannot be established. That’s why you find many of them building houses and hiding money there.
“No matter what the country is passing through, let every billionaire establish a business in rural areas, towns and local governments and engage people to help reduce the unemployment rate in the country. So that they won’t be coming to the city”.
“When people are engaged, criminality will reduce and the issue of Japa syndrome will be minimized. People who have ‘japaed’, it’s not that it is convenient for them; they just felt that’s the best option. If our millionaires can go to rural areas and establish gaari or palm oil factories, people will work there. So, let us think about ways to turn this nation aright.”
The electricity distribution companies, he stated, are not helping the economy as a result of their sharp practices on their consumers.
In his short sermon at the event, the National Overseer, Redeemed Christian Church of God, Pastor Sunday Akande urged the youths to fear God and also respect men of God.
He said, “Youths should fear God. They need to fear God because you see a man of 30years plus abusing a man of God of over 80 years. They should stop abusing men of God because those men of didn’t just there overnight, God took them there. Youths should also do their best. Nobody will give you what’s your own, you have to fight for it.”
