Abuja, Nigeria — Political reformer and advocate for economic sustainability, Jonah Ubanmhen has called on the National Assembly to prioritize the passing of a Digital Broadcast Revenue Act aimed at mitigating the growing risks associated with Nigeria’s national debt and preventing future fiscal crises. In a statement released today, Jonah emphasized the need for comprehensive legislation that would strategically increase national revenue while ensuring sustainable management of public finances.
Jonah, a well-known advocate for economic reform and good governance, argued that the current trajectory of Nigeria’s debt accumulation could undermine the nation’s financial independence, put a burden on public services, and increase inflationary pressures. He pointed out that the digital broadcast sector has vast untapped potential in terms of revenue generation, especially when it comes to clearly regulating and taxing digital platforms.
The proposed Digital Broadcast Revenue Act, according to Jonah, would establish a framework for improving Nigeria’s ability to generate revenue, lowering reliance on borrowing, and promoting economic diversification. He also recommended that the legislation should focus on increasing non-oil revenue streams and encouraging fiscal responsibility in public spending.
“Nigeria’s capacity for innovation and modernisation will determine its future, but we must do it properly. For the country to thrive sustainably, legislation that advances the digital broadcast sector while reducing the dangers associated with national debt is much needed. Jonah stated
The political reformer also called on policymakers to consider the implications of the debt on the country’s vulnerable populations and the potential for rising inflation. He urged the government to explore alternative funding mechanisms, such as digital economy taxes or partnerships with international development organizations, in order to ease the financial burden while simultaneously promoting technical advancement.
While some experts have expressed concerns about the potential costs and implications of new regulations, Jonah is optimistic that the overall benefits will outweigh the challenges. “This is not a punitive measure,” he stated. “It’s a strategic step toward ensuring that Nigeria’s economy becomes more resilient and that future generations are not burdened by the weight of unsustainable debt.”
The success of this initiative could have far-reaching implications for Nigeria’s economic future, potentially serving as a model for other developing countries dealing with comparable debt issues in the digital era.
