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Nigerian Government May Increase VAT To Fund New Minimum Wage - Politics (4) - Nairaland

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Bola Tinubu Asks Osinbajo And FG Not To Increase VAT, Widen Tax Bracket Instead / FG May Increase VAT Rate By 2.5% In 2021 / You Can’t Increase VAT, Tinubu Tells FG (2) (3) (4)

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Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Nobody: 8:56pm On Mar 19, 2019
Mariangeles:
Why will you be banned for saying the truth ??
The mods could be funny.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Tianamen1: 8:56pm On Mar 19, 2019
The stupidest part of this policy is that it would lead to the economy contracting and may even push Nigeria towards another recession.

Do taxes need to go up? Yes. But increases MUST be focused on the RICH and not the general population. Increases should also not be focused on businesses but on people's property and assets. This is the only way to go.

Udo udoma is a lawyer so he has no business being minister of national planning. May God help Nigeria.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by SheikhMuniru(m): 8:58pm On Mar 19, 2019
NLC IS THE MOST MUMU, SILLY, STUPID, BASTARD, GROUP I'VE SEEN IN LIFE. INSTEAD TO FIGHT FOR DECREASE IN PRICE OF PRODUCTS THEY ARE FIGHTING FOR MINIMUM WAGE...
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by lawani: 9:02pm On Mar 19, 2019
justtoodark:


you think its easy to pay tax....??...and if you tax the rich too much,they would just pack and leave....
90 percent of the economy is informal and that is wrong. To formalize everything is not that difficult.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by MANNABBQGRILLS: 9:04pm On Mar 19, 2019
bilulu:

You forgot to add that we should stop supporting mediocre..... you ve d ideas but keep praising someone who's bereft of positive ideas.
We respect your political affiliation ma'm by voting for Atiku.
Kindly RESPECT ours also.
Enjoy the rest of your day!

1 Like 2 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by zoomman(m): 9:05pm On Mar 19, 2019
Instead of increasing vat, why not reduce the cost of governance cut across all phases, it will go a long way.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by jconsulting(f): 9:06pm On Mar 19, 2019
Time to blame PDP

1 Like

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by justtoodark: 9:08pm On Mar 19, 2019
lawani:
90 percent of the economy is informal and that is wrong. To formalize everything is not that difficult.

western nations are going through the same wahala too incase you dont know....thats why they count more on productivity than on tax....

look how cheap chinese are selling their stuff....you think because they love the world population so much is why they sell their stuffs so cheap....??
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by justtoodark: 9:11pm On Mar 19, 2019
post=76807121:

We respect your political affiliation ma'm by voting for Atiku.
Kindly RESPECT ours also.
Enjoy the rest of your day!

this is what many of them fail to understand....our matter don pass which party is in charge now....

3 Likes 2 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by MANNABBQGRILLS: 9:12pm On Mar 19, 2019
justtoodark:


this is what many of them fail to understand....our matter don pass which party is in charge now....
Thank you for this sir!
They will learn with time.

1 Like 2 Shares

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by bilulu(m): 9:12pm On Mar 19, 2019
AZeD1:
I am not surprised. A lot of reasonable people said the new minimum wage is unrealistic but Nigerians being emotional rather than logical would not listen.

If VAT is increased, the workers would be poorer than they currently are even though they earn more.

To increase the standard of living , we need to reduce costs(cost of food, housing, et al) which would increase the purchasing power of the common man without increasing the wage bill and we need to be more productive. Anything outside this two is going in circles.
and why has the government not been thinking in dat direction
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by kiix(m): 9:17pm On Mar 19, 2019
My people, please help me complete 3 questions about an international oil company in France? It is for an academic work.

https://www.surveymonkey.com/r/ioc-brand

I appreciate una!
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by almarthins(m): 9:18pm On Mar 19, 2019
We re locked in a vicious cycle of nonsense. Them use right hand give us smtin, dem use left hand take collect am with cunning.

1 Like

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by justtoodark: 9:19pm On Mar 19, 2019
post=76807328:

Thank you for this sir!
They will learn with time.

they will have to....or they will keep on trying over and over again with the same results....

we changed jonathan because he failed to defend his territory....how can you allow a group of fanatics take over local goverment areas and wait short before elections to do something....??
how can you turn a blind eye when your people were stealin like no tommorow....??

well,na them sabi....

something is changin....saraki gone,okorocha byebye,ganduje playing ceremonies on construction sites,onnoghen in trouble....
things are happening....
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Nobody: 9:30pm On Mar 19, 2019
kevoh:
Increase in VAT is directly proportional to the increase in the price of products! So much for #30 000 minimum wage. undecided undecided
More like robbing Peter to pay Paul
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by ayenienterprise(m): 9:31pm On Mar 19, 2019
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
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by sunbreaker: 9:35pm On Mar 19, 2019
That means the #30,000 is useless and of no value

1 Like

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by grandstar(m): 9:41pm On Mar 19, 2019
FlintGuevara:


Some fine propositions by you, but most of the proposals herein are utopian and impracticable. I will respond to just paragraph a of proposal number 3.
First, you can't privatise all gov't parastatals. Let's take the Corporate Affairs Commission for example, who steps in to fill the vacuum created by a privatisation of the CAC? A private firm? How then do we balance the conflict of interest that's bound to arise in the event that your proposed privatisation is carried out? Again, who carries out the duties of parastatals like NERC, NAFDAC and other sector based regulators? How do you tackle the risk of conflict of interest associated with leaving such agencies at the hands of private corporate entities? A cursory look at my submissions would show that your argument on privatisation caves in upon itself at the slightest critical assessment.
Oh... on a lighter note and for the sake of a little banter, shey na your Baba be President and your party dey majority for legislature, make you reach out to them see whether them go try implement your point on emoluments.



Buhari is a leftist populist and anti-market and many of your proposals will not see the light of day.

Increasing salaries to such ridiculous levels will eat up the entire budget and more. Even Buhari as leftist as he is, counteroffered with 27,000 which indicates that Government could not afford the increase.

2 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by NigeriaDecides: 9:42pm On Mar 19, 2019
Next Level
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Whitelite: 10:00pm On Mar 19, 2019
post=76804463:
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..........


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

This guy is wise...

1 Like 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by nwadiuko1(m): 10:21pm On Mar 19, 2019
post=76804463:
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..........


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
you've got points

2 Likes 1 Share

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by NaijaFXboi: 10:25pm On Mar 19, 2019
demolinka:
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

GBAM!

Them want do wetin dem nah get brain to implement. The worst democratic government naija ever had!!! No initiative. They reason like children. Why have they not cut their own irrelevant allowances and humongous salaries? Animal farm of a country. Mtchew
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by dollyj1996(m): 10:45pm On Mar 19, 2019
as expected
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by nkemjacob2(m): 11:15pm On Mar 19, 2019
kevoh:
Increase in VAT is directly proportional to the increase in the price of products! So much for #30 000 minimum wage. undecided undecided
so wat is the essence of increasing the minimum wage. This gvt actually know how to take money back from the citizen
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by tunize(m): 11:17pm On Mar 19, 2019
This our country lacks direction and ppl are shouting and smiling ovef the 30k okay we're here rice go soon sell for 30k soon increament of VAT the adverse effect na increament of commodities las las.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Dpopsman123(m): 11:20pm On Mar 19, 2019
This isn't too good economic/financial policy... The value of naira will be at serious stake with this.. Where in the world does this work.

1 Like

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by BrokenCock: 11:51pm On Mar 19, 2019
post=76804463:
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..........


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


Thunder fire half of ya lips for that nos 3e.
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by BrokenCock: 11:53pm On Mar 19, 2019
nkemjacob2:
so wat is the essence of increasing the minimum wage. This gvt actually know how to take money back from the citizen
na plenty lucifers dey rule naija nau! What do u expect?
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by RealityShot: 12:01am On Mar 20, 2019
enm:


Is it only the legislature? What about the executive too ?
NO!


executive have limited tenure, don't they, so what are you talking about?


is it not senators that openly earn over N1 billion each every year? Do you hear that about the exec?


is it not senators that go to work once or twice or ZERO a month and collect N13+ million basic salary?


is it not this same senate that PADDED THE BUDGET with over N250 billion last year?


Where did they expect the exec to get that from?


LET THEM GET THE N150 billion for minimum wage from there too!


massive inflation loadng this year!!!
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by biztip: 12:12am On Mar 20, 2019
months before d elections I stopped commenting non political matters here. after elections some people were rejoicing that their tribesman won and I pity them. why? BC when incompetence and ignorance starts to affect d Nigerian economy na everyone go suffer am. this fg does not understand economy. instead of bringing guys who sabi una just dey dey think na tribal supremacy war we dey. me I dn prepare my self with good strategies and ready for the worst . many Nigerians na them go cry

2 Likes

Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by Nobody: 1:25am On Mar 20, 2019
Next level things
Re: Nigerian Government May Increase VAT To Fund New Minimum Wage by enm(m): 1:48am On Mar 20, 2019
RealityShot:
NO!


executive have limited tenure, don't they, so what are you talking about?


is it not senators that openly earn over N1 billion each every year? Do you hear that about the exec?


is it not senators that go to work once or twice or ZERO a month and collect N13+ million basic salary?


is it not this same senate that PADDED THE BUDGET with over N250 billion last year?


Where did they expect the exec to get that from?


LET THEM GET THE N150 billion for minimum wage from there too!


massive inflation loadng this year!!!

1 - Tenure has nothing to do with sourcing for money to fund budget

2 - According to you or your source each senator openly earned over 1 billionaire every year, because nobody is beaming their searchlight on the executive that doesn't mean they the president and his vice earn lesser that a senator. Have you seen where a MD of a company earn less than the directors in the company?

3 - well you have point here but how many time have you and me query them for not being at their duty post? 13+ million basic is too much for the executive, if a senator is earning that how much do you think the executive is earning?

4 - It takes two to tangle. In otherword the executive arm of government have their own share of the blame because the executive were ahead of the legislature in controlling the narative the whole blame was put on the legislative arm of government.

5 - If by cutting and blocking the avenues by which these senators are getting their money from the national purse will solve the problem am all for it but we must not exempt the executive too, stop all security vote, stop the distribution of money to party members and also stop receiving and pestering politicians for money whenever we come in contact with them because they hold a political office.

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