Good evening @DrJoeAbah

You asked. We raise our answer.

As you said, the FG is basically broke. This calls for a Bold Revenue Plan. The first thing we'd look to do is increase the tax base.

How would we do this? First, by increasing the revenue to GDP ratio from 8% to 14%. https://twitter.com/DrJoeAbah/status/1252855509465485317

Then, we would enact the Petroleum Industry Bill. Our crude oil production is stuck at 1.9m barrels per day for years as oil majors continue to seek out more attractive countries. Our oil taxes are some of the highest in the world at 90% compared to the global average of 60%.

We will change the oil tax rate to 70% onshore, 25% frontier, 25% for the transition fields and reverse deepwater tax from 90% to 80% to encourage investment. We will privatize both the NPDC and NLNG. By divesting 20% equity in NPDC to private ownership, we'll raise $US2.5-3.5bn

Furthermore, we will divest 20% of the 49% FGN equity stake in NLNG currently valued at about $US40bn to raise $US16bn to tackle broken critical public infrastructure and services.

While this will reduce the FGN's equity and the value of its yearly dividend, we feel it is a small price to pay in order to fix critical broken public infrastructure.

We will also increase the VAT for Luxury Goods and Services. At present, the Government raises less than 1% of GDP in VAT revenue, compared to almost 4% of GDP in our neighbouring ECOWAS countries.

To remedy this, we will redistribute wealth through an increase in VAT from 7.5% to 20% specifically for luxury goods and services. Such goods will include luxury cars, private jets, yachts, jewellery etc

We will simplify the process of taxation in the informal sector. We will publish a compendium of all legal taxes/fees payable by citizens to clarify payments that need to be made to the government, who has the power to collect and where the money is going to.

We don't want to bore you but you can follow the rest of our suggestions by reading our policy paper: A Bold Revenue Plan here: https://youthpartyng.com/wp-content/uploads/2015/10/Youth-Party-A-Bold-Revenue-Plan-16-3-20.pdf