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Ghana Is About To Wreck Nigeria - Business - Nairaland

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Ghana Is About To Wreck Nigeria by Quorax: 2:40am On Apr 15
I know a lot of APC zombies will call this fake... but before you talk shiiit, I am in direct contact with a company that has decided to leave Nigeria for Ghana.



Cry, My Beloved Country: While Our Leaders Are Considering Increasing VAT...

I watched a most distressing video this morning. The video was forwarded to me by Eze Nwakanma. It's a video you'll watch and almost throw your hands up in hopelessness. Sincerely, I'm a very optimistic person and I believe in the potentials of this nation but one can't just but feel despondent a few times.

While our leaders are considering increasing VAT in Nigeria and companies are slammed with all sorts of funny tax liabilities (my wife's school was slammed with merriment tax for holding Christmas party for the kids in her school), our neighbour Ghana is thinking outside the box. For the benefit of all, I'll summarize what was said in this video:

Ghana has abolished VAT on real estate sales.
Ghana has abolished VAT on financial services.
Ghana has abolished capital gains tax on sales of shares on the stock exchange.
Ghana has abolished import duty on spare parts.
Ghana has abolished the 1% import levy.
Ghana has abolished VAT on domestic airline tickets.
Ghana has reduced very significantly VAT on small traders from 17.5% to 3%.
Ghana is going to abolish all import duty on raw materials and machineries imported into Ghana.

Ghana is embarking on a massive industrialization drive called One District, One Factory. And there are 216 districts in Ghana. There is now a focus on production.

Now, Ghana has two major advantages: power issues sorted out and a peaceful democracy. Ghana with a population of 28m generates 4,577MW as at 2017. Nigeria with a population of 200m generates 5,000MW. Meanwhile, Ghana is building 2 power plants- a 400MW LNG-fired plant and a 600MW plant being built by Siemens.

Ok. What are the implications for Nigeria? We don't need soothsayers to predict how factories/companies will shut down in Nigeria and move to Ghana. Nigeria will just become a mere trading post for these companies because of our population while Ghana becomes the economic hub of West Africa. Our homes will be flooded with goods made in Ghana.

Other countries are thinking. Rwanda has taken our shine. Ethiopia has put on its thinking cap. Ghana has started an upward trajectory. Nigeria sits with its giant feet of clay. Cry, my beloved country.

---Bayo Adeyinka

Source: https://web.facebook.com/ozi.okoli/posts/10158530804253986?hc_location=ufi

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Re: Ghana Is About To Wreck Nigeria by Optional09: 3:19am On Apr 15
It is what it is, we invented SARS to kill the youth so that we won’t have any need for industrialization in the future. Aren’t we doing something?

10 Likes

Re: Ghana Is About To Wreck Nigeria by davenaija: 3:32am On Apr 15
cool
Re: Ghana Is About To Wreck Nigeria by otipoju(m): 3:33am On Apr 15
When you have a hypocritical president who takes pride in being poor how will it not reflect on the country.

I swear Nigerians really dont know how bad they are really suffering until they go outside and see what a normal life is like.

3 Likes

Re: Ghana Is About To Wreck Nigeria by Blue3k2: 3:44am On Apr 15
Yup they're going to spur lots of private sector growth. The government is streamlining it tax code and generating revenue. The laffer curve is real yall. The also have one of the better tax to GDP ratios. Nigeria is not even 10%. Ghana from what I glanced 30 seconds is shifting more toward corprate and income taxes to fund government.

I do think conclusions is over blown. Alot of these same policies exist in nigeria through Free trade zones by NEPZA and OGFZA. The power productivity is nigerias Achilles heel. The tax code could be changed.

Ghana has abolished VAT on domestic airline tickets.
Ghana is going to abolish all import duty on raw materials and machineries imported into Ghana.
Ghana is embarking on a massive industrialization drive called One District, One Factory.

Nigeria is yet to eliminate that vat on airlines.
I guess the plan is to encourage multinationals to invest in their free trade zones.

Grandstar you'd like thread. This looks like tax policy you propose.

3 Likes

Re: Ghana Is About To Wreck Nigeria by tsdarkside(m): 3:47am On Apr 15
we already knew,una will wail for the next 4years....

we are not surprised....
Re: Ghana Is About To Wreck Nigeria by allcomage: 3:59am On Apr 15
Nigeria is a failed state. The North is an albatross on other nationalities that make up Nigeria.

2 Likes

Re: Ghana Is About To Wreck Nigeria by tsdarkside(m): 4:06am On Apr 15
allcomage:
Nigeria is a failed state. The North is an albatross on other nationalities that make up Nigeria.

that is not true....all parts are equaly important....

1 Like

Re: Ghana Is About To Wreck Nigeria by Xander85: 4:11am On Apr 15
The one that got me green with envy was the report last week that said Ghana is poised to be THE FASTEST GROWING ECONOMY IN THE WORLD IN 2019! I was furious! angry

I said it didn't i? I warned a few years back that we will be busy bragging that we're the giant of Africa; have the biggest population in Africa; have the largest GDP in Africa....we'd be wallowing in this false sense of security and superiority, and wouldn't know when little Ghana overtakes us!

Nigeria is a basket case! This is what you get when a people who are ill-equipped to govern not only insist on governing, but also insist on filling all sensitive positions with their people!

2 Likes

Re: Ghana Is About To Wreck Nigeria by Almaiga: 5:31am On Apr 15
Quorax:
I know a lot of APC zombies will call this fake... but before you talk shiiit, I am in direct contact with a company that has decided to leave Nigeria for Ghana.

Source: https://web.facebook.com/ozi.okoli/posts/10158530804253986?hc_location=ufi


The writer is biased. So because his wife's school was asked to pay their tax, he is now propagating lies against the Government.

I'm not even suprised cause the writer is an Igbo man. They will never say anything good about this Country. The writer should leave Nigeria and relocate himself and his wife's school to Ghana, they will not be missed.

This is the reason why, Igbo's will never rule this Country, Never.
Quote me anywhere.

1 Like 1 Share

Re: Ghana Is About To Wreck Nigeria by wamiikechukwu(m): 6:01am On Apr 15
Of all the countries in Africa the one that I love its policy is Rwanda.

The reason Nigeria Nigeria GDP is $400 Billion + is due to its large sales of petroleum products.

If Ghana or any other country should focus more on customer's production and later on exportation.

The might scale above the $1 trillion bench mark.

Nigerians we need to learn.

Meanwhile

Do you need an android app for your business or website, then contact me I will build one for you at an afford price.

2 Likes

Re: Ghana Is About To Wreck Nigeria by godofuck231: 6:03am On Apr 15
Quorax:
I know a lot of APC zombies will call this fake... but before you talk shiiit, I am in direct contact with a company that has decided to leave Nigeria for Ghana.

Source: https://web.facebook.com/ozi.okoli/posts/10158530804253986?hc_location=ufi
bubu has done it again, our economy now has been anally raped, hard core!

1 Like

Re: Ghana Is About To Wreck Nigeria by lordkush: 6:10am On Apr 15
Almaiga:



The writer is biased. So because his wife's school was asked to pay their tax, he is now propagating lies against the Government.

I'm not even suprised cause the writer is an Igbo man. They will never say anything good about this Country. The writer should leave Nigeria and relocate himself and his wife's school to Ghana, they will not be missed.

This is the reason why, Igbo's will never rule this Country, Never.
Quote me anywhere.
just continue.


the world is closing her borders to Nigerians.


But your problem is igbo. aii

2 Likes

Re: Ghana Is About To Wreck Nigeria by Colonelswitz101(m): 6:20am On Apr 15
Almaiga:



The writer is biased. So because his wife's school was asked to pay their tax, he is now propagating lies against the Government.

I'm not even suprised cause the writer is an Igbo man. They will never say anything good about this Country. The writer should leave Nigeria and relocate himself and his wife's school to Ghana, they will not be missed.

This is the reason why, Igbo's will never rule this Country, Never.
Quote me anywhere.
Ok no vex bros, since the igbos will never say anything good about your beloved zoo sorry nizooria, can u please mention at least three economical solid foundation policies ur country is embarking on at this moment as u compare wt other Africa nations n contrast with the OP opinion...

1 Like

Re: Ghana Is About To Wreck Nigeria by tommyken(m): 7:17am On Apr 15
.

3 Likes

Re: Ghana Is About To Wreck Nigeria by Almaiga: 7:29am On Apr 15
tommyken:

You be mumu I swear

You and the writer no well. You can also relocate with him to Ghana. You won't be missed.

1 Like

Re: Ghana Is About To Wreck Nigeria by Almaiga: 7:33am On Apr 15
Colonelswitz101:

Ok no vex bros, since the igbos will never say anything good about your beloved zoo sorry nizooria, can u please[b] mention at least three economical solid foundation policies ur country is embarking on at this moment as u compare wt other Africa nations in[/b] contrast with the OP opinion...


Before I answer your question, can you tell me what your tiny underdeveloped Eastern Region contribute to the Economy?

Re: Ghana Is About To Wreck Nigeria by Almaiga: 7:35am On Apr 15
lordkush:
just continue.


the world is closing her borders to Nigerians.


But your problem is igbo. aii

cool

Re: Ghana Is About To Wreck Nigeria by Konki: 7:57am On Apr 15
tsdarkside:


that is not true....all parts are equaly important....

... But goes cap in hand to Abuja for feeding allowance since they not equally productive ba?
Re: Ghana Is About To Wreck Nigeria by Colonelswitz101(m): 7:58am On Apr 15
Almaiga:



Before I answer your question, can you tell me what your tiny underdeveloped Eastern Region contribute to the Economy?
Mstweew!!!! Intellectualy incapacitated zombies everywhere....

3 Likes

Re: Ghana Is About To Wreck Nigeria by Quorax: 9:44am On Apr 15
Almaiga:



The writer is biased. So because his wife's school was asked to pay their tax, he is now propagating lies against the Government.

I'm not even suprised cause the writer is an Igbo man. They will never say anything good about this Country. The writer should leave Nigeria and relocate himself and his wife's school to Ghana, they will not be missed.

This is the reason why, Igbo's will never rule this Country, Never.
Quote me anywhere.

Myopic dindinrin...

Your kinsmen that have ruled, how has it secured your children? Make acccident hit now and that is when u will understand what it feels like to live in a country with poor medical facilities.

Who presidency epp

1 Like

Re: Ghana Is About To Wreck Nigeria by Almaiga: 2:04pm On Apr 15
Quorax:


Myopic dindinrin...

Your kinsmen that have ruled, how has it secured your children? Make acccident hit now and that is when u will understand what it feels like to live in a country with poor medical facilities.

Who presidency epp

Na weting this dolo dey write?

Re: Ghana Is About To Wreck Nigeria by Almaiga: 2:08pm On Apr 15
Colonelswitz101:

Mstweew!!!! Intellectualy incapacitated zombies everywhere....


Eyah, your tiny Region contributes Nothing to the Economy, deal with it.

Re: Ghana Is About To Wreck Nigeria by tsdarkside(m): 3:58pm On Apr 15
Konki:


... But goes cap in hand to Abuja for feeding allowance since they not equally productive ba?

look how you dey talk....

as if southern politicians are not part of it too....

keep on fighting for a side or the other....you looser....
Re: Ghana Is About To Wreck Nigeria by Quorax: 7:20pm On Apr 15
tsdarkside:


look how you dey talk....

as if southern politicians are not part of it too....

keep on fighting for a side or the other....you looser....
their matter tire me.
Re: Ghana Is About To Wreck Nigeria by grandstar(m): 10:01pm On Apr 15
Blue3k2:
Yup they're going to spur lots of private sector growth. The government is streamlining it tax code and generating revenue. The laffer curve is real yall. The also have one of the better tax to GDP ratios. Nigeria is not even 10%. Ghana from what I glanced 30 seconds is shifting more toward corprate and income taxes to fund government.

I do think conclusions is over blown. Alot of these same policies exist in nigeria through Free trade zones by NEPZA and OGFZA. The power productivity is nigerias Achilles heel. The tax code could be changed.



Nigeria is yet to eliminate that vat on airlines.
I guess the plan is to encourage multinationals to invest in their free trade zones.

Grandstar you'd like thread. This looks like tax policy you propose.


Thanks blue3k2! This is fantastic news. I'm a fan of low taxes and lean and mean government.

Ghana is however yet to slash company tax to less than 20% which it should

Though I've never been a fan of VAT, I also recognize it as a necessary evil. If a government can balance it's books without it, cool.

Thumbs up to Ghana! I see average growth rates of 8% or more annually for at least the next 10 years. Within 20 years it will be well within high middle income levels. They now even have the cockiness to boot out Nigerians grin

2 Likes

Re: Ghana Is About To Wreck Nigeria by grandstar(m): 11:30pm On Apr 15
Blue3k2:
Yup they're going to spur lots of private sector growth. The government is streamlining it tax code and generating revenue. The laffer curve is real yall. The also have one of the better tax to GDP ratios. Nigeria is not even 10%. Ghana from what I glanced 30 seconds is shifting more toward corprate and income taxes to fund government.

I do think conclusions is over blown. Alot of these same policies exist in nigeria through Free trade zones by NEPZA and OGFZA. The power productivity is nigerias Achilles heel. The tax code could be changed.



Nigeria is yet to eliminate that vat on airlines.
I guess the plan is to encourage multinationals to invest in their free trade zones.

Grandstar you'd like thread. This looks like tax policy you propose.


The best on the list are the lifting of all import duties on raw materials and spare parts. This will definitely boost investments and make their goods very competitive.
This
Ghana however needs to put its fiscal house in order. Because elections in Ghana has been free and fair, since the incumbent can't win by rigging, they resort to expensive preelection spending such as fattening salaries of civil servants which leads to high inflation and a fall in the Cedi.

This has been a recurring decimal and needs to be checked by introducing a Fiscal Responsibility Bill. The recklessness has led to a fall in the Cedi from parity to the dollar to a quarter of its value today

2 Likes

Re: Ghana Is About To Wreck Nigeria by Hofbrauhaus: 12:26am On Apr 16
Nigeria is cursed. Even if we want to think of a way forward one fool like Almaiga would come and use tribalism to scatter everything. So this foolish Almaiga is happy with Nigeria like this��? Some people are hopelessly useless..

1 Like

Re: Ghana Is About To Wreck Nigeria by Almaiga: 4:51am On Apr 16
Hofbrauhaus:
Nigeria is cursed. Even if we want to think of a way forward one fool like Almaiga would come and use tribalism to scatter everything. So this foolish Almaiga is happy with Nigeria like this��? Some people are hopelessly useless..

You are one of those lazy Youths Buhari talked about. People like you do not want to stress themselves, all they want is to make money. Millionaires are made daily while lazy Boys like you keep complaining. You wasted your life playing Baba Ijebu, nairabet and Yahoo without success.

Keep complaining, while hard working Nigerians like myself continue to Excell in this same Country.

Re: Ghana Is About To Wreck Nigeria by Konki: 8:10am On Apr 16
tsdarkside:


look how you dey talk....

as if southern politicians are not part of it too....

keep on fighting for a side or the other....you looser....

Southern states that are feeding the entire country ba?

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