Bill Gates reacts to Nigeria's fuel subsidy, electricity tarrif hike

American business Mogul and software developer, Bill Gates has aired his views on the recent decisions on the federal government in connection to fuel subsidy, electricity tariff and taxation.

The business tycoon in an interview with The Cable, noted that, there is an issue of trust deficit on the part of Nigerians towards the government, hence the complaint on rising tax rates.

Gates called on the federal government to build its credibility in the minds of the people and over time increase tax collection.

He admitted that rather than being used to better the lives of the poor, subsidies, which he described as being repressive in nature, are used to further enrich the wealthy.

He revealed: "...people always complain about taxes. But if they know the taxes are being spent on viable services, less so. A lot of government subsidies don’t go to the poorest, they end up going to the people that are well off."

The developer pointed out that with unstable oil revenues, taxes are often insufficient and "low to fund the infrastructure, education system and the health system."

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