Angelfrost:


Our problem lies solely in LEADERSHIP, or the glaring lack of it.

Every serious nation with intelligent leaders have been doing this for decades.

lexy2014:

Good. That takes us back to d question: the one that they are stealing, is it little?

derecho:
I thought the title is
How Nigeria Can Lower Debt ....?

Abeg , if you saw the solutions proffered, help us sift and post here

Reference:
Just be throwing around stupid statistics and telling us the obvious to justify their ignorance and failure.
Debt to Revenue ratio will be low when the debt IS NOT INCURRED TO RAISE REVENUE, simple.

When an investor like me or you approaches a bank the primary purpose is to fund productivity which in turns creates the revenue to pay such loans back and some more for his business and himself.

The government should be borrowing only to fund productivity which will expand the tax base, pump the tax receipts and create businesses and jobs for Nigerians. Any other borrowings of whatever kind will only impoverish Nigerians the more and erode the so called tax base.

This is common sense.

But as I continually sing.
When all your borrowings are geared towards 'contractors' for projects that are not commercially viable, do not create jobs or businesses and so cannot expand the economy, the result is inflation and the impoverishment of the common man from which you hope to tax. How foolish.

Let them go to the Chinese to collect their taxes since they are the ones who are getting 'everything'.... nonsense.
No serious minded, but poor country will 'contract' out its development.

I cannot take a loan to develop my farm from bank X,Y,Z and the bank will sit on my farm and dictate to me who will till the ground, give me machines I will use to farm at their discretion and the markets I will sell my produce and I hope to develop the farm..... it will never happen.

I sincerely look forward to a government that is serious about putting Nigerians to work. A government that is attractive enough for Nigerians to invest in. We have the resources to build our infrastructure. Nigerians can build their refineries and railways, power plants and dams without borrowing IF, IF, IF, IF they are part of this development and will directly profit from their establishment.

There are 30 million unemployed, able bodied youth in Nigeria that should be building the roads, railways and power plants. Government just has to figure out how to do that because that is how it was done in the developed countries we envy today. And these folks who are running their countries are the primary ones paying the taxes.

Our youth on the other hand are busy keeping the government busy with all manner of anti-social vices of horrendous nature.... because they are essentially the devil's workshop.

subsidywise18:


Basically widen the revenue base

subsidywise18:


Let me rephrase my oroginal comment

They are stealing from the 'little'we earn.

That is why corruption is evil

lexy2014:


Still doesn't answer d question:

the one that they are stealing, is it little?

derecho:
Any specifics? Or taxation as usual?

subsidywise18:


1.Am afraid part of the answer is taxation.

Tax to gdp ratio is 8.1%. 30% of taxable Nigerians pay income tax to state and FG. VAT collection is sketchy nationwhide (which is why some governors are complaining, and want states to be in charge of VAT.)

2.Also, diversification, diversificaiton, diversification. As it is we rely on 1.4 million barrels of oil for most of our revenue. That can take care of a country like Qatar, not a country like ours with a large population.

3.Long term, the basis of our economy has to be exporting manufactured goods, not raw materials.

Answers are not popular, and no, it does not mean I apporve of our leadership either.

subsidywise18:


Well for us as Nigerians it is a lot.

But overall, it is worse because we aren't earning as much as we should be in the first place.

lexy2014:


If u are saying that what is stolen is a lot, how then can revenue be little?

subsidywise18:


It is little for a nation our size.

That is why.the stealing and corruption is bad for us.

If you don't get it, sorry.

lexy2014:


If according to you what is being stolen is a lot, how come u are still insisting that the same thing that is being stolen is little?

The money being stolen that you say is a lot, on what basis is a lot if u saying that it is little for a nation of our size?

subsidywise18:


1.Am afraid part of the answer is taxation.

Tax to gdp ratio is 8.1%. 30% of taxable Nigerians pay income tax to state and FG. VAT collection is sketchy nationwhide (which is why some governors are complaining, and want states to be in charge of VAT.)

2.Also, diversification, diversificaiton, diversification. As it is we rely on 1.4 million barrels of oil for most of our revenue. That can take care of a country like Qatar, not a country like ours with a large population.

3.Long term, the basis of our economy has to be exporting manufactured goods, not raw materials.

Answers are not popular, and no, it does not mean I apporve of our leadership either.

subsidywise18:


You are not really interested in the answer are you?

Good afternoon.

lexy2014:


You haven't answered the questions:

If according to you what is being stolen is a lot, how come u are still insisting that the same thing that is being stolen is little?

The money being stolen that you say is a lot, on what basis is a lot if u saying that it is little for a nation of our size?