A New Dawn.

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I just finished reading the new tax reforms, and I am a little relieved because I have read several hot takes, which didn't make sense to me. The bottom line is low-income earners, who are usually within the highest threshold of about a million Naira annually, are exempted, and also people who do small trades and earn little profits in crypto not up to five hundred thousand Naira are also exempted from being taxed a percentage of their profit.

So unless you are a whale or a company's executive, these new tax reforms should not bother you. It's almost like for the first time in decades or since independence, the government actually considered poor people or low-income earners when making economic policies.

Before now, low income earners were made to contribute to government expenditure but thankfully these new tax reforms has changed all that.

While the new tax law is a welcome development, I think the threshold should have increased to 5 million Naira annually due to the high standard of living. Basically with the threshold at 1.6million Naira annually, there will not be much left to work with after taxing 21%.

Regardless, Nigerians are highly resilient, and I'm sure they will cope or, as always, find a way around the whole tax palava.

You know sometimes I wonder if we will ever get it right collectively as Nigerians because every year as we get older as a nation; my heart bleeds because there is almost nothing worth celebrating. Looking at the economic situation of things, it's clear that the nation is deteriorating, and as an economist, I think that it is a miracle that Nigeria still stands.

I'm guessing every year it's this miracle of existing together as a nation that we celebrate; despite the effective use of tribalism and religious cards by politicians to divide and rule.

In my family, we celebrate independence not for Nigeria aging but for the fact that we all got lucky to exist together from one blood line. About 62 years ago, my maternal grandfather had just married my grandmother. It was Independence Day, and like it used to be, it was a very colorful event.

However, tragedy almost struck on my grandparents first independence together. On the said day, my grandmother was cooking for a feast while my grandfather had gone to the stadium to celebrate with friends.

Suddenly a celebration of laughter turned into panic when my grandfather collapsed. Luckily there was a timely medical intervention, and while he fought for his life, my grandmother was sent for. She was barely 15 years old and there really wasn't much that she could do but thankfully my grandfather pulled through as he was revived.

My mom would always share this story but I didn't pay much attention until last week. It was independence day and her sister had called to wish her well. I could hear my aunt from the other end and the excitement from her voice could not be missed then she made a remarkable statement; She reminded my mom how they got lucky that their father survived his near death experience otherwise they just might not be alive today. They won't be siblings and their lineage would have been wiped.

In that moment I looked at my daughter who was by my mom, I also went to the standing mirror in my room and stared at my reflection. The thought that I wouldn't have been in existence as well as my daughter unsettled me.

I pondered on the whole experience and somehow I felt a shift. I started to see life differently and appreciate it even more. Humans are magnificent, we are beautiful creatures and it's amazing how a death of one can lead to the annihilation of an entire generation.

It is me now looking above the frustrations of Nigeria government. Their actions really doesn't matter to me anymore. Fact is that I am a survivor and being alive is a miracle worth celebrating. And like my aunt who prepared a feast of pounded yam with Egusi peppersoup, and shared with us, I will be planning for the celebration next year and more years to come.

Happy independence day Nigeria; as where there is life, there is hope 💚