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Nigerian Government May Increase VAT To Fund New Minimum Wage - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigerian Government May Increase VAT To Fund New Minimum Wage (21458 Views)

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Nigerian Government May Increase VAT To Fund New Minimum Wage by nwakibie3(m): 5:48pm On Mar 19
"There may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced."

Senator Udoma Udo Udoma, Nigeria’s Minister of Budget and National Planning, has given indication that the government may need to increase Value Added Tax (VAT) to fund the new national minimum wage.

He stated this on Tuesday when he appeared before the Senate Committee on Finance at the hearing to deliberate on the new national minimum wage of N30,000 approved by the Senate.

The Senate had approved the new figure at its plenary on Tuesday.

Speaking before a panel led by Senator John Owan Enoh, Udoma noted that the Technical Advisory Committee on the minimum wage would submit its report to President Muhammadu Buhari during the week.

“The current minimum wage of N18,000 is really too low. It is difficult for workers to manage on that amount. The President supported a review but it is important that as we are reversing it, we should be able to fund it. It is in the light of this that we would be coming to you (Senate), because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced,” he said.


http://saharareporters.com/2019/03/19/nigerian-govt-may-increase-vat-fund-new-minimum-wage?fbclid=IwAR0c6Ibevc3OzqqbJaB4MkahAQkbt3XAVJB3dmvlayLl8GzAfRpuvoqqaYA

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Amuocha: 5:48pm On Mar 19
Great

2 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by divinehand2003(m): 5:51pm On Mar 19
Wahala dey come naija oooooo. Not only will $1 hit N500, but VAT also will increase. How do we survive 2019 -2023 ?

63 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by demolinka(m): 5:54pm On Mar 19
And the governors that can't pay should reduce their emoluments! If they truly cared about their people the governors and state assemblies would tie their own salaries to the performance of the economy of the states...let's see if they won't be forced to find other sources of finance asides oil money

16 Likes 2 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by kevoh(m): 6:04pm On Mar 19
Increase in VAT is directly proportional to the increase in the price of products! So much for #30 000 minimum wage. undecided undecided

104 Likes 3 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Optional09: 6:08pm On Mar 19
No idea dummy’s they want to increase VAT who is going to suffer the brunt

Sowore never said he will increase tax he said he will block the leackages and make sure that we collect taxes from tax invaders.

What happened to free education at all level, now that it’s obvious you’re trying to do what Sowore said he will do. Do it right let’s nigerians enjoy good life

7 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by PureMind2: 6:09pm On Mar 19
We are waiting anyway
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by DBossNG(m): 7:27pm On Mar 19
undecided
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by kingola87(m): 7:27pm On Mar 19
OKAY CONTINUE!
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by MANNABBQGRILLS: 7:28pm On Mar 19
We have written this more than once here since last year.....
Hope it can get to the right sources.

HOW NIGERIA CAN PAY MINIMUM WAGE COMFORTABLY.......... MANNABBQGRILLS


1. Abolish SECURITY VOTE in NIGERIA. Nigeria will pay N45,000 minimum wage comfortably.

2. a) Abolish CONSTITUENCY PROJECT FUNDS
b) Reduce number of ADVISERS to SENATE PRES(2), HOUSE SPEAKER(2), GOVs(4), PRESIDENT(5), VP(2)
c) Reduce current ALL Political Office Holders PAY CHEQUES by 51.5%, without exception
d) Do away with special remuneration to POLITICAL ADVISERS & PUBLIC SERVANTS e.g; Purchase of Private Vehicles, Houses, granting Govt paid Vacations, paying for 1st & Business Class Transportations, etc, etc...
e) Abolish payment of OVERSEAS MEDICAL BILLS for Political Office Holders.
f) Eliminate PRIVATE PRACTICE in public workforce
g) Eliminate participation of Public Workforce in Partisan Politics.
h) Institute EMPLOYMENT BY MERIT, and eliminate UNDEREMPLOYMENT.
i) Review and eliminate allocation of Govt paid POLITICAL AIDES & SUPPORT STAFF to Political Office Holders.

With (1) + (2) Nigeria would pay a minimum wage of N65,000 comfortably

3. Move Nigeria MORE to Private Sector Driven Economy
a) Privatise ALL MOST of Federal Govt PARASTATALS & reduce Federal Direct Funded AGENCIES to 68% of the present.
b) Privatise ALL of STATE Govt PARASTATALS & reduce State Direct Funded AGENCIES to 19% of the present.
c) Reduce current DIRECT LABOUR JOB participation by 49%
d) Encourage more Working Hours until Nigeria economic stabilizes
e) Discourage UNIONISM in Public Workforce

With (1) + (2) + (3), Nigeria would pay a minimum wage of N101,500 comfortably.


4) Institute DEATH PENALTY to proven THEFT OF PUBLIC FUNDS no matter how little, and LIFE Jail Sentences for COLLABORATORS.

With (1) + (2) + (3) & (4), Nigeria would pay a minimum wage of N203,500 comfortably.

GOD BLESS OUR PRESIDENT MUHAMMADU BUHARI.
GOD BLESS NIGERIA

60 Likes 6 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by LearnEasy(m): 7:28pm On Mar 19
The things we will see this time, let's pray and get ready.

4 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by tamonokare: 7:28pm On Mar 19
The hunger go soon enter gear two.

5 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by tamonokare: 7:28pm On Mar 19
divinehand2003:
Wahala dey come naija oooooo. Not only will $1 hit N500, but VAT also will increase. How do we survive 2019 -2023 ?

It seems you are not ready for Buhari's NEXT LEVEL ! My brother, no joke oo.

4 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by superior1: 7:29pm On Mar 19
Using Abu money to do guest welcome party for Abu

33 Likes 2 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by EVILFOREST: 7:29pm On Mar 19
MAMMY WATER GIFT

8 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by immhotep: 7:29pm On Mar 19
nwakibie3:
"There may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced."

Senator Udoma Udo Udoma, Nigeria’s Minister of Budget and National Planning, has given indication that the government may need to increase Value Added Tax (VAT) to fund the new national minimum wage.

He stated this on Tuesday when he appeared before the Senate Committee on Finance at the hearing to deliberate on the new national minimum wage of N30,000 approved by the Senate.

The Senate had approved the new figure at its plenary on Tuesday.

Speaking before a panel led by Senator John Owan Enoh, Udoma noted that the Technical Advisory Committee on the minimum wage would submit its report to President Muhammadu Buhari during the week.

“The current minimum wage of N18,000 is really too low. It is difficult for workers to manage on that amount. The President supported a review but it is important that as we are reversing it, we should be able to fund it. It is in the light of this that we would be coming to you (Senate), because there may be the need to make some changes, especially the VAT, in order to fund the minimum wage once it is announced,” he said.


http://saharareporters.com/2019/03/19/nigerian-govt-may-increase-vat-fund-new-minimum-wage?fbclid=IwAR0c6Ibevc3OzqqbJaB4MkahAQkbt3XAVJB3dmvlayLl8GzAfRpuvoqqaYA
1. Increase VAT.
2. Increase petrol price.
3. Increase diesel price.
4. Increase kerosene price.
5. Devalue Naira so that N1 = N600

Next level loading. Sai baba grin grin grin

cc lzaa sarrki pythonamaka

24 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Tomide007: 7:30pm On Mar 19
Watch me switch from using my coporate account to personal account.... Nobody will kill me..... We go hide gross income die this yr.

12 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by oyetunder(m): 7:32pm On Mar 19
anyhow...
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by traihit: 7:32pm On Mar 19
superior1:
Using Abu money to do guest welcome party for Abu

The devil doesn't gift something for free...

7 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by MChaze25(m): 7:32pm On Mar 19
Hmmm...
Wahala dey sleep, something wake am up ooo
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by NaijaRoyalty: 7:32pm On Mar 19
Na wao
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Sijo01(f): 7:32pm On Mar 19
shocked increase VAT? That means more hardship to the people!

What happened to slashing your salaries and allowances? Greedy set of entities.

14 Likes 3 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by abumeinben(m): 7:32pm On Mar 19
Smiles angry

This joke-embedded government. Inhumanity at it's peak. VAT increment due to wage increment. I can remember buhari promising to cut politicians pays. I can remember him promising to reduce number of MDAs.

Guys! Brace for HUGE electricity bills.

11 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by GeneralShepherd(m): 7:32pm On Mar 19
Reduce the salaries of politicians. Not so hard to come up with a smart solution in it?

3 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by oyetunder(m): 7:32pm On Mar 19
anyhow... though most civil servants are as idle as a new born baby.

3 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by kamez(m): 7:32pm On Mar 19
in order words, na we the masses go help pay the minimum wage.....


reminds me of how rochas okorocha declared free education up to tetiary level for all imolites, only for the public servants to later realise that part of their salary and that of all pensioners, was been used to fund the free education propaganda....


naija I hail...

7 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by RealityShot: 7:33pm On Mar 19
Wow!


Nigerians need to CRIPPLE this Senate O!


how can they suggest such?!!


the companies we are inviting will take to their heels along with those here already!


i have better ideas..


STOP all the Senator's constituency develoment fund allocation (110 * N500 million = N55 billion)..


Next, STOP payment of salary-equivalent for life to all ex-governors, senators, deputy governors, ex-state house members and cut their pension to like 10% of last salary..


Next, OPEN ONNE sea port for containers & general goods and
STOP paying N1billion demurrage to ships DAILY at Lagos sea port!!!!
(N365 billion)


NEXT, remove the N100 billion alloted to Boko haram and IDPs!!!


NEXT, remove the N40 billion alloted to militants!!


they can even pay N60k minimum wage from the above reallocation only!!!
OR create 100% new employment!

10 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Precious4real: 7:33pm On Mar 19
Na Wa ooo!! This is robbing Peter to pay Paul! ☹️☹️☹️

10 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by DMerciful(m): 7:33pm On Mar 19
Bubu who keeps getting poorer is clueless on how to generate wealth for the country! Nigerians want to get rich but keep electing the poor! A tragic irony!

6 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by gsttana: 7:33pm On Mar 19
hdhdd

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by helinues: 7:34pm On Mar 19
And non government workers would pay for that.. Hmmmm

7 Likes 1 Share

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