Vivly:

Food stuffs are non VATable.

Nigerians are so stupid.
Seriously? I am laughing! Presently, fuel price is 105, with 10% increment, expect fuel to be around 200 naira.

Everything, even KULIKULI price will double.

Happiness87:
hahaha see your life, Nigeria is not productive, don't be deceived our revenues are used to pay allowances to political office holders, the governors steal the allocations, how many governors have increased their IGR in the last 8years??

increasing vat will not translate to any meaningful development, politicians will take their share use the remaining to pay salaries, some can't even pay salaries after removing their share every month.


stop defending blindly, government should diversify the economy and raise their revenue, tax luxury items, reinvest the revenue and build a social amenities.

how many states are paying18000 minimum wage, go and do your survey.
what kind of life will the masses live with 18000, by the time prices of goods increase by 15-35%, coupled with unemployment and depreciating value of naira.

You're so wrong about the price increment. It's going to double. Trust Nigerians, I remember vividly during OBJ regime. He quickly reversed it. My dear, VAT increment even with 1% will result in more suffering for the masses.

ttmacoy:
To date yes most revenue has been stolen or wasted, but with financial discipline and reduction in corruption which I hope Buhari brings extra revenue can then be properly spent for infrastructure.

How will the government raise revenue please tell me?
The government should not be in business but rather be focused on providing an enabling environment for for business to thrive and empty people. The government should makes its revenue from taxes as a result of the successful businesses and people using the infrastructure provide rather than the government depending on oil or other business for revenue.

I agree that prices will rise which I why I say for real change there will be pain. There I no way about it, but the important thing is with that pain and sacrifice must b the fact that the revenue raised us used properly. Raising taxes only to squandered means our sacrifice is wasted and we are in a worse position.

As I said please autobiography of the former prime minister of Singapore from Third world to First to understand the sacrifices required to take a country like Nigeria from all the issues we face to a world class developed nation.

Either we bite the bullet and make the sacrifices and with good management emerged stronger or we keep taking baby steps and remain where we are.

Same with China research on the steps taken to reinvigorate their economy over the past 30 years. It was painful at first.

With our level of development, no government should touch VAT,, in fact, they should reduce it. Instead, subsidy should be scrap. Let's buy fuel for 250 naira. Increasing VAT is wickedness. He can go generate his income elsewhere. Mansion owners should pay millions as tax, tax the richer folks higher. Leave us alone with our 200 bread and 40 naira tea

CSTR2:
Is it buhari that knows how to effectively utilize increased taxes to stimulate greater national productivity.?
omode ni e.

Ikoko ni e.

It's his job as the current chief executive.

mfm04622:
Nigerians pay the LOWEST VAT in the whole world! Go and investigate. It should go up

Don't mind them.

The same asshats will go to developed countries and pay the tax yet they expect the same level of convenience here.

SenseiX:

Even if the govt cuts all loopholes, our revenue base would still be grossly inadequate for a nation of 170 million people, Nigeria has an annual federal budget of $30billion. That's less than that of Angola($45Billion). Nigeria is the most undertaxed nation on earth, you can't run a welfare state for 179 million people on a $30 billion dollar budget, a third of which is consumed on fuel subsidy and the rest on recurrent expenditure.

You have some valid points but I still insist that tax increment in the face of brazen financial recklessness by Government tantamount to putting the cart before the horse.

Let the Government work on financial prudence first rather than increase VAT that Producers will finally pass down to consumers to bear the brunt.

dorothy111:


I am sure you don't understand the meaning of this. 50 naira gala will turn 100 naira. 11k/sec call rate will turn 22k/sec. Cement price will double, everything will double. What for? To pay salaries, and so that our legislatives will have enough to loot.

Our leaders are liars, they are not serious. They don't want to help us. They are evil. JeZzzzzz!

NIGERIANS DON'T LEARN

ehn ehm..... Who taught you Economics Please?

dorothy111:


With our level of development, no government should touch VAT,, in fact, they should reduce it. Instead, subsidy should be scrap. Let's buy fuel for 250 naira. Increasing VAT is wickedness. He can go generate his income elsewhere. Mansion owners should pay millions as tax, tax the richer folks higher. Leave us alone with our 200 bread and 40 naira tea

Oh my God, never thought I will read a comment like this on NL. My hats off to you.

The people's president PMB need to be careful of some saboteurs and eye service people in government. People like this Sunday ogunbesan and whole lots of others hiding and doing eye service should be fished out and sacked by PMB if he really mean to deliver the change he promised. PMB can diversify into other sectors of the economy apart from oil that can make this country great. An increase in VAT and its adverse multiplier effects will bring untold hardship to the people and will eventually erode the popularity and confidence in our dear president. PMB NEEDS TO WATCH OUT FOR BAD AND SELFISH ADVISERS IN OTHER NOT TO MAKE GEJ MISTAKE

In other words FG to increase price of goods in d market

Na wa

dorothy111:


I am sure you don't understand the meaning of this. 50 naira gala will turn 100 naira. 11k/sec call rate will turn 22k/sec. Cement price will double, everything will double. What for? To pay salaries, and so that our legislatives will have enough to loot.

Our leaders are liars, they are not serious. They don't want to help us. They are evil. JeZzzzzz!

NIGERIANS DON'T LEARN

I don't know the effect 100% increase in VAT will have on cost of vatable goods and services? Must you look down on people you don't know just because they hold contrary opinions to yours?
Well, I know incidence of VAT is completely borne by the final consumer but there is no way Gala or cost of call will double on price because VAT doubled! Governance is a contract between ruler and citizens. We must fulfil our part of the contract ( paying our taxes) before we can hold our leaders to account

dorothy111:



Nigerians are so stupid.
Seriously? I am laughing! Presently, fuel price is 105, with 10% increment, expect fuel to be around 200 naira.

Everything, even KULIKULI price will double.

Why don't you go read a book on taxation before writing this? You want Nigeria to be better but you don't want to make any sacrifice. How will that work out?