Economist Mr. Tope Fasua advocates ending the 9-5 work culture in Nigeria, suggesting shorter workdays could attract younger citizens to public service and boost the economy. He also emphasizes the need for tax reforms to improve revenue generation for national development, amid challenges like tax evasion and public distrust of government. The overall goal is to stimulate economic growth and participation in the digital economy.
Economist and entrepreneur Mr. Tope Fasua is advocating for the abolition of the conventional 9-5 work culture in Nigeria, suggesting it could significantly enhance the nation’s economy. Fasua, who serves as a Special Adviser on Economic Affairs to the Vice President, emphasized that long working hours deter young Nigerians from pursuing public service or full-time employment. He proposed that adopting shorter workdays, such as a 3-hour workday, might better engage the younger workforce and boost public sector popularity.
During a town hall meeting focused on innovative taxation approaches, Fasua highlighted that modern employees, particularly millennials and Gen Z, prefer more flexible work conditions that allow them time to pursue personal interests and side projects. He pointed out that minimizing work hours to three could encourage young individuals to engage in activities that contribute positively to the GDP, especially in the emerging digital economy. He remarked, “You can’t hold their attention for more than three hours. For the rest of the time, let them go… That also adds to the GDP.”
Fasua also stressed the importance of embracing tax reform in Nigeria, comparing effective tax policies to those of developed nations that have used tax revenue to foster economic growth. He urged citizens to view taxes as a vital resource for national development rather than a hindrance. The Dean of Law at Veritas University, Ms. Josephine Agbonika, also commented on the need for simplified tax processes to alleviate public tax aversion and build trust in government.
The Nigerian government has introduced four tax reform bills aimed at streamlining tax administration and enhancing revenue collection. Among the proposals are the Nigeria Tax Bill 2024 and the Nigeria Revenue Service Establishment Bill, which have sparked extensive discussion among stakeholders. Overall, the country has faced substantial economic setbacks, losing approximately $310 billion in GDP over the past decade, attributed to reduced productivity and other systemic issues.
The debate surrounding Nigeria’s traditional 9-5 work culture arises from its impact on productivity and the appeal of public service jobs among younger individuals. As economic conditions evolve, the need for a flexible work environment becomes critical to attracting talent and generating engagement in various sectors. Additionally, tax reform discussions are becoming increasingly relevant as Nigeria seeks strategies to revitalize its economy and increase government revenue amidst historical issues of tax aversion among citizens.
The call to end the 9-5 work model in Nigeria, as proposed by Mr. Tope Fasua, highlights a potential shift toward shorter workdays as a means to enhance the economy by engaging the younger workforce. Along with advocating for tax reforms, these ideas aim to address public service appeal and boost GDP through increased participation in varied economic activities. With proper implementation, such reforms may pave the way for a more dynamic and productive work environment in Nigeria.
Original Source: www.legit.ng
