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Nairaland Forum / Nairaland / General / Business / Budget: FG Raises Non-oil GDP Projection To N104tn (5504 Views)
Fg Raises N7bn From Savings Bond In 10 Months / Budget: FG Targets N100bn From Islamic Bond, And / FG Raises Import Duties On Luxury Goods, Food Items That Have Local Alternatives (2) (3) (4)
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by eakenbor: 8:50am On Aug 06, 2017 |
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Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 8:58am On Aug 06, 2017 |
eakenbor: whats exactly ur point?...........cos, it seems u don't understand whats going on here. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by emmyfizzy12(m): 9:02am On Aug 06, 2017 |
nextprince:I can't even read any long epistle again...what 're they even saying? Biko is buhari back? 1 Like 1 Share |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by eakenbor: 9:08am On Aug 06, 2017 |
Oil accounts for over 70% of our GDP and not 15%. Use your brain! shervydman: |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:18am On Aug 06, 2017 |
eakenbor:NO, VERY WRONG.............oil accounts for less than 10% of our GDP.it only account for about 90% of our foreign revenue which the government want to tackle. services and agriculture actually generate the highest percentage to our GDP. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by juman(m): 9:24am On Aug 06, 2017 |
shervydman: You are funny. This is a developing country. Federal government means the president. The president represent his party. APC is a confused party that destroyed nigerian economy but does not know what to do to enliven the economy back. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:29am On Aug 06, 2017 |
juman: |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Bede2u(m): 9:30am On Aug 06, 2017 |
shervydman:money can also be generated thru taxes. No? Taxes however dont form part of GDP |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:31am On Aug 06, 2017 |
juman: .............. I take the bolded statement as a joke. I've told u to stop party politics. its more than party and positions. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:47am On Aug 06, 2017 |
Bede2u:yes.....money can be generated through taxes. but u need to understand that taxes and GDP are two parallel terms, they can never be the same. taxes are meant for financing government expenditure like building of roads and basic amenities. GDP on the other hand is the contribution of each sector/industries to the economy. taxes does not contribute to the economy but contributes to the government budget or expenditure. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by mikolo80: 9:47am On Aug 06, 2017 |
mrvitalis:I always laugh when ppl say no state is viable except Lagos. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Bede2u(m): 9:55am On Aug 06, 2017 |
shervydman:Yes u are right. But u did not specify it like dis b4 |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:57am On Aug 06, 2017 |
Bede2u:ok.....my apology. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by jaytime(m): 10:30am On Aug 06, 2017 |
Bede2u: shervydman:I think this is where you both are getting it wrong. Taxes don't fly in from heaven, they are derived from GDP. It is one of the means through which government gets income(revenue) from GDP (which is the sum total output of every economic entity) to finance its programmes and policies for the benefit of everybody that contributed to the GDP. That's why GDP and tax always change in the same direction. In this particular Nigerian case, government is invariably targeting increasing non oil revenue and tax will form a chunk of that. So they have to increase non oil income (output) first. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by OBAGADAFFI: 11:14am On Aug 06, 2017 |
Well it is a proposal |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by buffalowings: 11:14am On Aug 06, 2017 |
Wetin consign me |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 9:16pm On Aug 06, 2017 |
jaytime:tax is derived from GDP? how?...........I thought tax is derived from personal or corporate income and indirect tax is levied on goods and services? i'll like u to explain more on how its gotten from GDP. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by jaytime(m): 10:41pm On Aug 06, 2017 |
shervydman: Brother, tax is a component of GDP. Before you are taxed, you must have been involved in some economic activities and earned income; isn't it? Now that income that you earned is it not part of GDP? Then government taxes you and that your tax now forms part of government spending which is an integral part of GDP. A mere look at the later part of your question will tell you more about what I'm explaining here. Those personal, corporate income and the goods and services you are talking about, are they not components of GDP? Don't forget what you were taught in your o'level economics that GDP = C + G + I + NX; where C is all private consumption, or consumer spending in the country, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX is the country's total net exports, which is total exports minus total imports. I'm sure from that equation you can identify where direct and indirect taxes you talked about fall into. |
Re: Budget: FG Raises Non-oil GDP Projection To N104tn by Nobody: 10:50pm On Aug 06, 2017 |
jaytime: thanks....gotcha! |
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