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Nairaland Forum / Nairaland / General / Politics / VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years (197 Views)
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VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years by BrandNewsDay: 7:21pm On Sep 14, 2021 |
It's no more news that a couple of states have refused to continue to go begging Aso rock for monthly stipends coming largely from their states. This spells more trouble for a Federal Government suffering a chronic financial haemorrhage, as FG stands to lose about 3.9Trn in the next few years. But I agree with Lagos and other states on the disruption of the status quo and here are the why's. From a governance viewpoint, places with higher commercial activities tend to rake in higher government revenues which also implies higher government responsibilities as well as various problems bordering on mitigating effects of industrial pollution and rapid population growth among a plethora of others. So, states revenue contribution ought to be clearly proportional to states "stipends" from the FG. But our reality is far from the ideal. Secondly, what drives a state to be more economically viable when in the end, they'll get about the same monthly stipends whether they put in the effort or they just sleep all through the month? If we know that the more we produce as a state, the more stipends we get from FG, why then wouldn't we struggle to get more from FG? If state governors have their destinies in their hands, they definitely would be far more responsible and triggered to find ways to solve their economic problems and that would translate to more employed people in the country, and of course, more happy people, right? Meanwhile, the FG sits on the bulk of the proceeds without much to show for it and with debts mounting at an unprecedentedly fast pace, leaving the state government with fewer resources to serve the faces behind the revenue numbers effectively. Another perspective to this would be that of the dwellers in some of the economically unproductive states. Unfortunately, the status quo is not benefitting most residents of the impoverished states because they have governors who are not motivated to make their states economically viable which would, in turn, translate to more jobs and prosperity for individual residents. And the little largess they (governors) get still find its way into their and their cronies' private pockets. But ethnic jingoism and bigotry would continue to leave the greater number of Nigerians myopic about issues like this. From a personal viewpoint, residents living in states with higher returns somehow suffer this blessing turned curse. As a Lagosian working a government job, I'm far poorer than someone From Osun working a similar job at the same level. This is obvious because what I pay for a bedroom apartment is more than what they pay for a three-bedroom apartment in Osun. Mind you, Osun is just a random example of the very many economically sick states. READ; https://brandnewsday.com/2021/09/14/vat-collection-why-fg-stands-to-lose-about-n3-9-trillion-in-the-next-few-years-by-kazeem-abiodun-kareem/
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Re: VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years by SLAP44: 7:25pm On Sep 14, 2021 |
That's music to our ears |
Re: VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years by BrandNewsDay: 7:31pm On Sep 14, 2021 |
SLAP44: Fellow Nigerian... Let us be patriotic citizens ooo |
Re: VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years by Goldbw122(m): 7:42pm On Sep 14, 2021 |
Is like they imported this FG to come and governor an unknown country, THEY ARE JUST STEPING ON THE COUNTRY HEAD.. NOTHING IS WORKING IN NIGERIA. 1 Like |
Re: VAT Collection: Why FG Stands To Lose About N3.9 Trillion In The Next Few Years by SLAP44: 8:01pm On Sep 14, 2021 |
BrandNewsDay: Patriotism my left bumbum, what nonsense patriotism is the army showing in the south east where they are killing innocent people? |
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