Putinofrussia:

Continue to deceive yourself.Petty trading does not grow an economy like industries.
In Britain,the largest number of petty traders are the Pakistanis,reason they are not as rich as the Britons.
The SW is richer because they have the highest number of middle class,lawyers,professors,doctors,engineers etc.
Igbos should not depend on almost 80% petty trading the way they are doing.It makes them need a large population,makes them go into different criminal activities than the other tribes.
They have to make a little change to their economic platform and strategy.
If Nigeria breaks this moment,Igbos will have a lot of problems economically if they continue with this trajectory.

Bestmanfornow:

Some of you are dumb and blinded by hate trade contribute to Nigeria gdp than manufacturing, the disadvantage is the government make less in revenue while the trade go home with more than 98% of their profits, the guys are far richer than average salary earners in your region, stop deceiving yourself

Bestmanfornow:

States in your region make more money still dey are most indebted states, still borrow to build projects
They are using you guys brain to play ludo

Putinofrussia:

This is stale.
SW states are mostly credit worthy.
Why would they lend Ebonyi or Abia money when they are not sure of them having the ability to pay back.
USA and China are the most indebted nations in the world because of their credit worthiness.

FatherOfJesus:
Kai, this guy has turned this thing to tribalism. Shame shame shame

FatherOfJesus:
Kai, this guy has turned this thing to tribalism. Shame shame shame

Putinofrussia:

This is stale.
SW states are mostly credit worthy.
Why would they lend Ebonyi or Abia money when they are not sure of them having the ability to pay back.
USA and China are the most indebted nations in the world because of their credit worthiness.

Putinofrussia:

This is stale.
SW states are mostly credit worthy.
Why would they lend Ebonyi or Abia money when they are not sure of them having the ability to pay back.
USA and China are the most indebted nations in the world because of their credit worthiness.

Putinofrussia:

But reality and statistics say otherwise.
SW not only Lagos,has always and continue to be richer than the SE.

I can name 100 known and verified Yoruba billionaires in naira now and you will not be able to mention 40 Igbos.
You can only just spin fake and imagined fables.
Also remember that Yorubas are second in trading all over Nigeria and first in industries both in Nigeria and abroad.

FatherOfJesus:
Yes but a state like Ogun is more industrialized than Abia state.
For state like Bayelsa, the kind of tax just one oil company pays to state account alone, can amount to what Unilever, Dangote, Nigerian breweries and nestle will pay combined to Ogun state.

Ain abia, they have Unilever, ginuess, Nigeria bottling company etc but the state is not as industrialized as Ogun state. Commerce and illegal production is still the major source that drives economy

Misterone:
Oga, this your story no make sense. We have three levels of tax in Nigeria. Corporate tax collected by the FG, personal income tax collected by the state and rents collected by the LG. You pay store rent, advertisement, ground moeney, etc to the LG. If the state is not organized enough to collect PAYE, who is to blame? Don't blame others, blame your governor

FatherOfJesus:
You still can't get it.

socialmediaman:
You just need to learn how it’s done in other countries, not rocket science

Taxing businesses in Anambra and Abia states are easy with right government in place.

You just need to implement local tax policies and the right technologies.

Track imports and supply chains to enable government predict local sales revenue from businesses

Also, empower tax consultants to work with local businesses to ensure compliance

For example, if company A buys goods worth 500K and reports that in their tax filing so they could get a tax break, but you fail to report the revenue in your tax filing, there’s already a disparity that warrants invitation from government which could result in huge penalties or even imprisonment.

FatherOfJesus:
Anambra and Abia state governments will always have issues raising their IGR as fast as other states because their economy is driving by commerce, it's pure a commerce-based economy that has to do with People having to import products almost always to help fill the production deficit in the country. It's operated by an open market system that is very difficult to regulate and tax.
Unlike the service/production based economy you see in oil producing states and southwest. These economy are easier to regulate hence taxing them will not be a big issue.
Imagine a market like Ariaria and Unilever plant in Sango Otta or shell facility in Warri. It will be much easier to tax those facilities in Warri and Otta than taxing Ariaria market because there's a regulatory challenge for the latter. Because you are dealing with importers who move goods to retailers, you can only rely on tarrifs or taxing them for shop and warehouse spaces. Most of these tarrifs never get to government coffers. Tax leakage is a major problem with an open market commercial based economy.

Those markets actually make a lot of money but these monies remain in the hands of citizens instead of the government because it's hard to properly tax such forms of transactions. Imagine Onitsha market, it's like a major commercial centre for neighboring states like Enugu, Kogi, Benue, Delta, rivers, Akwa Ibom, Ondo and even Edo state and even beyond. It means that people in these states, especially the oil producing states will need to get the funds from oil, take those funds to Aba or onitsha to buy goods from importers to service the needs in their various states but at the end of the day, it becomes a problem for Abia state and Anambra to tax these transactions.
At the end of the day, funds will flow from other parts of the country to these states. Most of the funds will remain with the traders and importers because of the nature of their economy and then government will be left with the little it managed to collect.

In service and production based economy like in southwest and Southsouth, you know all the companies you will tax, they will file their returns and do the needful without stress. All you have to do is keep proper records and prosecute those who evade these taxes. Some of the money that would have been in the hands of individuals will go to the government.

This is why CBN included Abia and anambra alongside Rivers, Lagos and FCT as states with the largest cash flows in the country. The money is available because they are a major commercial hub for neighboring states but their state governments are unable to tax them.

FatherOfJesus:
Anambra and Abia state governments will always have issues raising their IGR as fast as other states because their economy is driving by commerce, it's pure a commerce-based economy that has to do with People having to import products almost always to help fill the production deficit in the country. It's operated by an open market system that is very difficult to regulate and tax.
Unlike the service/production based economy you see in oil producing states and southwest. These economy are easier to regulate hence taxing them will not be a big issue.
Imagine a market like Ariaria and Unilever plant in Sango Otta or shell facility in Warri. It will be much easier to tax those facilities in Warri and Otta than taxing Ariaria market because there's a regulatory challenge for the latter. Because you are dealing with importers who move goods to retailers, you can only rely on tarrifs or taxing them for shop and warehouse spaces. Most of these tarrifs never get to government coffers. Tax leakage is a major problem with an open market commercial based economy.

Those markets actually make a lot of money but these monies remain in the hands of citizens instead of the government because it's hard to properly tax such forms of transactions. Imagine Onitsha market, it's like a major commercial centre for neighboring states like Enugu, Kogi, Benue, Delta, rivers, Akwa Ibom, Ondo and even Edo state and even beyond. It means that people in these states, especially the oil producing states will need to get the funds from oil, take those funds to Aba or onitsha to buy goods from importers to service the needs in their various states but at the end of the day, it becomes a problem for Abia state and Anambra to tax these transactions.
At the end of the day, funds will flow from other parts of the country to these states. Most of the funds will remain with the traders and importers because of the nature of their economy and then government will be left with the little it managed to collect.

In service and production based economy like in southwest and Southsouth, you know all the companies you will tax, they will file their returns and do the needful without stress. All you have to do is keep proper records and prosecute those who evade these taxes. Some of the money that would have been in the hands of individuals will go to the government.

This is why CBN included Abia and anambra alongside Rivers, Lagos and FCT as states with the largest cash flows in the country. The money is available because they are a major commercial hub for neighboring states but their state governments are unable to tax them.

Bestmanfornow:

Empty ewedu brain

rippa:

Which kind foolish writeup be this🙄
Which one is production based economy like the SW 🤣🤣
What is Ekiti or ondo or osun producing?
Just say Lagos and stop making it look like SW starts and end in Lagos

Bridget95:
Each shop at Ariaria International Market,Aba are meant to pay 18,000 each no matter how small the shop is every year.This is a very huge tax for them