company tax @ 10%. The man must be joking. I think d best thing is to leave it at 30%, and make special tax allowance for new and small companies . Companies dat fullfil certain cateria based on environment, investment and charity should also be given some tax allowance.

The following will always be high on my list of respectables -

OBJ
Segun Aganga
Sanusi Lamido.



Sir majority of Nigerians dont like any of those people you mentioned, are you sure you are Nigerian?

Yes indeed sir. I'm Nigerian to the marrow.

Nigerians may not like them because they say it as it is. So who do they like? Oh, let me guess. Governors, Senators, Reps? People who simply play politics with everything and relentlessly pursue self interest ALL the time. Good people are discredited by powerful forces through campaign of columny soon as they rear their heads. That is the bane of Nigeria. And we, the people, take it in, hook, line, STINKER.

Our leaders are intellectually lazy. They know that the majority of the people are gullible, a mental inertness that is the result of decades of abuse and manipulation!

That is why a confirmed thief like Atiku can boast of the audience, following and attention he's availed of today, rather than dwelling in a cold prison cell which is his rightful place!

May good God bless you you have just spoken well.




It is so amazing that someone of Atiku and IBB will even has a single person following them it is a great shock upon all their shortcoming and evil deed, wonders shall never end. I doubt if Nigeria will ever learn till heaven come.

[size=16pt]Balderdash
Let him forget it
If given the chance and he does it,it wont help the economy in any way cos he's still gonna loot whatever gains may arise therefrom[/size]

Beaf:

Poor Atiku!
Aganga really said it, dude doesn't even understand basic economics / development.

I am following this line of thought.

How can you churn out such massive policy of reducing Corporate Tax to 10% from 30% without telling us how the already under funded infrastructural development is going to survive.

I bet he doesn't even know how much is generated via Corporate tax per annum. How does he intend to finance the shortfall? You need to tell us Mr Atiku. Even if it is the lame excuse that you are going to reduce corruption.

He seems to say this reduction will occur in all sectors (in my mind including oil and gas!!!)


Reducing tax will not necessarily encourage massive Foreign Investments.

1. This is the worst piece of crap I have heard in recent time from Nigerian politicians. I guess tax exemption has spoilt Atiku's head, as President and Vice President are exempted from Nigeria income tax.

2. What did he achieve during his tenure as the vice president? I know he was not the president, but he was remunerated heavily, without tax.

3. I have never heard of any company complaining about 'high' corporation tax in Nigeria. Companies and business men in Nigeria generally complain about electricity, pipe-borne water, roads, security of their staff, police and touts extorting money from them (this is the kind of tax he should bring to 0%)

(NB: Poster, it is not Company Income Tax. You can call it Company Tax, or Corporate Tax, or Corporation Tax)

Soludo was a very poor Central Bank governor & many well-informed people in Nigeria now know that.

He certainly gets credit for requiring increased capital base for banks, but as a regulator (d most important job of a central banker), S Lamido is far superior.

Being a Prof makes u a good theorist, but most profs aren't gr8 in the real world. I'm not surprised by the lack of real-world content in Atiku's Soludo-inspired statements.

@Topic,
What a slowpoke. Hardly surprising. Atiku is a confirmed idiot.

Missy85:

Soludo was a very poor Central Bank governor & many well-informed people in Nigeria now know that.

He certainly gets credit for requiring increased capital base for banks, but as a regulator (d most important job of a central banker), S Lamido is far superior.

Being a Prof makes u a good theorist, but most profs aren't gr8 in the real world. I'm not surprised by the lack of real-world content in Atiku's Soludo-inspired statements.

Sorry for you madam!. . .Soludo put the economy on the track it was in before Sanusi came to vaporise all the jobs created.
During Soludo's tenure he managed the economy in a way that allowed the private sector to thrive. . .Same cannot be said of your sanusi

agreed that Lamido's reforms are creating short term pain, but we will come to see that he's God-sent.

The massive jobs created in the sector under Soludo were the result of a glutonuous banking sector built largely on massive fraud, manipulation of figures, declaration of non existent profits etc. It was a house of cards that was bound to collapse. And the eventual collapse would have been worse were it not for the timely intervention of a technocrat with genuine baking experience - something Soluda lacked.

kedukc:

I wish we could make 2 copies of nigeria, one for Jona, the other for Atiku,  I bet u Nigeria will grow worse under Jona by 2015. The guy cant handle his peops in the delta, he doesnt have the sense of tact required of a helmsman,  Bribes, intimidating opponents with state agencies,  People should open their eyes, Jona is not a messiah, he's just another politician, worse still, he's totally lacking experience. Like a child pushed from Pry 2 to Pry 6 he doesnt have a clue what to do if he eventually gets there.

GEJ is the hand of God;even IBB,OBJ couldnot stop him,with all due respect Atiku does not know where he stands, with all his followers,they are confused

To hell with your 0%. paper work is what you guys are found of with your deadly deceit

This ladies and gents is the prime reason we Africans and most importantly, Nigerians are not taken seriously, as we tend to talk with lots of emotion and most of the time have no f, ing clue as to what the true issues are. First and foremost, how does he then plan to fund the gap (66% less) that will be caused by this reduction? He probably thinks he will attract more companies, well he will need to attract 200% more just to get back to where he was. When other countries are looking at being fiscally prudent in these hard times, we are in a giving spirit ( Xmas maybe, LOL). In his discussion with foreign and sovereign countries they told him that the biggest problem was the tax rate? Let me guess, HE DIDNT DISCUSS WITH THEM. Now our leaders can read minds. Excuse Mr President aspirant, let me help you as to why companies have a hard time doing business in Nigeria:

Infrastructure (Electricity, Water, Roads etc)
Corruption
Banking conditions

Need I continue. Its not because we dont have educated trained staff. Enough graduates and the people of Nigeria are hard working, its the government that is a laughing shame. Shame on him for once again making us look silly. He probably doesn't know that in terms of growth Nigeria ranks consistently in the top 5 within emerging economies, BUT THE COST OF DOING BUSINESS IS APPROX 60% which is the highest within our peers.

The worst part, I can picture him saying this with full pride and confidence only to have those present ( business school students, professors and entrepreneurs) have a good laugh when he leaves, saying look at this foolish African. You know if a stupid person may seem intelligent if he says nothing and simply nods and smiles every now and then. GOOD GRIEF !!

Atiku should think well before talking all in the name of winning election.

Absolute poppycock. . .

Nigeria is the only place such gibberish is uttered and no one challenges. The average Nigerian knows zilch about public finance. While I am not claiming to be an expert on these issues, I sure understand some basics.

Exempting every single company from paying 20% corporation tax will result in huge loss of revenue for the government. Where does the money come from? Who pays for it? It's not enough to just spew nonsense in public, back it up with figures.

Is he then going to raise income tax rates to plug the deficit? Is he going to levy importations? Unless we just discovered staggering levels of oil and mineral reserves, I can understand where he is coming from.

I can bet my life that even he (Atiku) doesn't know the meaning of that utterance. .

Atiku doesn't understand simple English. There have been write-ups in various business journals that the cost of doing business in Nigeria is very high. So the fat-bellied Atiku quickly concluded that costs of doing business and favourable business environment means 66.67% reduction in corporation tax.  Shame on him!!

1. Roads are to a country what veins are to the human body.
2. Fuel/Petrol is to a country what blood is to a human being.
3. Electricity/Power is the heart of an economy
4. I won't say a president is to a country what brain is to human, otherwise it will seem as if Nigeria is already dead.

In terms of veins, I will say Nigeria's veins are weak,  torn here and there and not enough to supply the needed blood. Though the blood is not always available as Nigeria depends on external supply of blood. No one knows when she will be discharged from her hospital bed because the heart beat is going from bad to worse.

And then one man who has never been of any good to Nigeria wakes up one day to say he is the messiah

Atiku may be gr8

what administration is he talkting about, could it be the unforseen one.

The president does not have the power to do so. if he says my party (as part of the manifesto) will reduce Tax to 10% i can understand that. We run a democratic government and as such it has to be passed by the House. The party he runs under even has to have a majority in the house before he can start dreaming of such. Why can't the so called Nigeria leaders apply some common sense before coming out with empty promises?

lol!!! se demm, if it was jonathan that wrote this one on facebook u ppl go dey haill and haill!!!,

if u ppl think of the huge cost this companies are incurring in doing business in Nigeria, den u would see the neccecity. But first of all if that is to be done, den they would need to enforce tax and make the system transparent because loads of companies dont pay tax in Nigeria

Election is on d way

And come to think of it, it is good for employment because most of this companies are not producing at full capacaity due to  loadss of cost they incure. Reducing coporation tax  would in a way reduce cost.

And come to think of it, it is good for employment because most of this companies are not producing at full capacaity due to loadss of cost they incure. Reducing coporation tax would in a way reduce cost

DUDE if you don't know common economics just relax, go check the corporate tax rate of other well developed countries which boast of the necessary infrastructure, you don't just reduce tax with no conducive environment for business growth.

this is a man without ideas. we are talking of tax invasion and he is talking of reducing tax by 10%. is this what the economy needs to thrive. which village does he come from? atiefku, you are going no where.

babasoty:

DUDE if you don't know common economics just relax, go check the corporate tax rate of other well developed countries which boast of the necessary infrastructure, you don't just reduce tax with no conducive environment for business growth.

i GET UR POINT THE PROPER ENVIRONMENT IS NOT THERE, TRU SAI

am i the only one that noticed that the poster mentioned the 30% to 10% rate but failed to mention where Atiku quoted the statement unlike how he quoted the clearing of imported goods within 48 hours?

That said, even if he said it but wasn't quoted, i think he's just displaying his ignorance. all in the name of wanting to sound as though he has the best plans/programme when elected. the guy should go and sit down, and enjoy his stolen/looted funds jare. Or better still, let him think harder on viable ways Nigeria's problems can be solved, not promising heaven because he thinks we're gullible.

@Malabite,
                 The poster got it right,its called company income tax and not company tax.The law that provides the basis for this particular imposed charge is the company income tax act, hope that is clear?
                 I honestly feel Atiku made that statement just to cajole people and institutions in corporate Nigeria.Nigeria as it is today,is seriously battling with serious shortfalls in her revenue projections,hence,Atiku's recipe is gonna have serious implications on the health of the economy and as such,is unrealistic and simply not feasible.
                 To those who take delight in riddiculing Charles Soludo, figures and facts dont lie,Nigeria's economy four years ago can simply not be compared with what we have today.Forget the sanusi's theatrics,the economy under him has taken a terrible turn,unemployment is at a record high,many businesses have gone aground,inflation is on the high side,interest rate is so high,retail loans have completely disappeared etc.Being the central bank governor goes way beyond blowing alarms,you must be competent and vast enough to know the multiplier effects of all your actions, REAL WATCHERS OF THE ECONOMY WILL TELL YOU ANYDAY THAT SOLUDO DESPITE HIS SHORTCOMINGS AND FLAWS DID A BETTER JOB THAN SANUSI LAMIDO.

30% is Ok for an economy like Nigeria. The reason why you need to make it 30% in nigeria , is because you want to force companies to expand. So you give them three option. This way , when business see that they have to pay 30% to taxes, they would decide to pick with the option to expand or charity

three option are

1. pay 30% taxes
2. Pay part to charity
3. use it for expansion of your business.


Either you pay 30% taxes or you use part( 40%) of your taxes to expand.

If the taxes are too low business would have no need to expand.

Good government around the world have created this system to make the economy to grow. If not you would have a standstill economy for a long time.

Another reason why if I was president, the taxes would be this high is because of employment of the youth of Nigeria. Without expansion, there is no new employment. What it mean is the unemployment figures are going to increase each month. amd many companies would close down.

Look even while Dangote or Otedola or Mike Adenuga may not like my idea. But over all it is good for thier business. This way their business over a 10 years period would have growth rate of over 300%

What it means  let say Dangote or Adenuga made 100 million this years. And adenuga is suppose to give back 30 million as taxes, I give adenuga the option to use his 30 million to expand his business.  or to put it in a charity.

So what adenuga would have had if he pays his taxes would have 70 million. while 30 % he paid to taxes.
But now Adenuga I have made Adenuga to keep 85 million while he pays only 15%. He uses the 15 million extra to expand his business for the years 2011. While he create employment for youth. But Adenuga can also decide he want to pay the whole 30% too, if he want.

How what it means is adenuga business as increase by 15% in value over a space of 10 years.

Atiku/Soludo taxes would not work for a modern day economy like this.

This is the taxes system I would put in place, if I was president of Nigeria. You give business the option to decided what they want thier taxes to be uses for.

The reason why you also want to give Adenuga or dangote the option of putting it in a charity is because government can not carry the burden of development of the society allow. Go to ijebu igbo Adenuga town, there is nothing there. It is shame to Adenuga if he decided to invite his friend from abroad to see the place. But if he had that option of been able to  determine, where his taxes money are spend. He would not complain about the system, because he can use his taxes by himself to make that change. samething goes for Dangote.

That is if I was  president.