The third chairman of the Institute of Chartered Accountants of Nigeria, ICAN, Gwagwalada and District Society, Musa Dala, has called on government to harmonise wages for civil servants to discourage corruption.
Dala spoke during the investiture of the third chairman and inauguration of Executive Committee of ICAN Gwagwalada and District Society on Saturday in Gwagwalada, Federal Capital Territory.
He said there was need for the removal of fuel subsidy, stressing that the Nigerian economy had suffered for a very long time.
Dala also said that government should consider harmonising civil servants wages, as the disparities in the wages were not encouraging.
“Because the wages system of the country encourages corruption, if we allow this kind of wages to continue there is no way to go,” he said.
In his acceptance speech, Dala said that his team would consolidate on the achievements of his predecessor and lift ICAN Gwagwalada and District Society to a higher level.
Similarly, the guest speaker of the occasion, Prof. Obida Wafure said that the removal of fuel subsidy was a welcome development.
Speaking on the topic, “Petroleum subsidy removal and the Nigeria economy”, Wafure said that the subsidy removal would reduce government borrowing and the associated huge debt.
“It will free resources for investment to other critical sectors of the economy, such as education, health, infrastructure, security and power; reduce incentive for smuggling and associate risk. It will encourage investors into the petroleum sector to boost the economy,” he added.
On the possible solutions to fuel subsidy, Wafure said that there was need for a full deregulation of the downstream sector and complete removal of petroleum subsidy.
“Remove fuel subsidy and provide credible evidence based policies. Government should redesign the subsidy regime and direct it towards the poor.
“Increase minimum wage and increase monthly income threefold for Pay As You Earn (P.A.Y.E),” he said.
(Frontpage)