The Chartered Institute of Taxation of Nigeria (CITN) has stressed the need for proper implementation of the national budget for economic growth.
The organisation made this known during its 40th Induction ceremony held in Lagos recently.
It urged the government to invest in areas such as education to help boost the 2019 budget.
The President and Chairman of Council, CITN, Mr. Cyril Ede, in his address said government needs to increase productivity by investing in education aimed on quality over quantity.
“By investing in education with emphasis on quality over quantity, it is a bold thinking that should be driving the 2019 budget, “he said.
He explained further that the budget does not align with the pulse and realities of the citizenry of Nigeria.
Ede, however, said there was need for the masses through civil engagement, to be involved in the policies of government.
“The budget should inspire hope, resting on a philosophy of progress and not only on the churn of figures”.
“The budget can do better in assuring Nigerians of the reversal in the observed gale of unemployment… More so, the budget ought to detail a plan of action beyond the statement of incomes and expenditures, “Ede said.
Ede said the economy required about five million jobs yearly in order to reverse the unemployment trend in the country over the past years.
According to him, “to achieve this, the economy needs to grow at an inclusive growth rate of between five to six per cent per annum”.
Meanwhile, the Special Guest of Honour, Mr. Gabriel Fasoto, at the event, admonished the newly inducted members to up the scale of taxation practice and administration in the country and the world at large.
He also said there was need to equip themselves technically in a bid to be up to date in tax laws, tax jurisprudence and global tax practice.
“Do not settle for less when handling a clients’ tax affairs. You are to be more driven by expanding the frontier of tax knowledge rather than only the pecuniary interest, “Fasoto said.