Every year, MTN Nigeria Limited makes ₦2 trillion in revenue from Nigeria. That is more money than Nigeria spends on critical infrastructures annually. Almost 100% of MTN Nigeria's profit after tax is repatriated to South Africa. Please fact-check me. The same is true for DSTV, which makes ₦300 billion annually from Nigeria.

Do you know the massive downward pressure that a combined total of almost $5 billion that MTN, DSTV, and other South African companies repatriate back home to South Africa annually from Nigeria has on the Naira? Think people. Think! That money is leaving Nigeria to support the purchasing power of the South African Rand. Actions have consequences.

Now, how many major Nigerian companies are doing business in South Africa? Please fact-check me again. Under the South African Income Tax Act, South Africa places a 28% tax on foreign companies doing business in their country.

And in addition to the 28% tax you pay, you have limits on how much of your profits you can repatriate to your home country. And even the amount you can repatriate is subject to an additional repatriation tax, different from the initial 28% tax you pay.

Nigerians must stop emoting and start reasoning. We ought to place far higher taxes on South African companies doing business in Nigeria than the taxes paid by Nigerian companies, especially where Nigerian companies are competing with those South African companies. And we should also limit their abilities to repatriate profits from Nigeria to South Africa.

This may be reduced for those South African companies doing business in areas where we have a shortage of local companies with the ability to compete, and for which there is a high need.

That is what Europe, America and Canada are doing to us. Placing serious obstacles on immigrant visas for regular Nigerians, but lowering the bar for Nigerian doctors, nurses, and teachers, because they need those Nigerian professionals due to shortages in their homelands.

What did Christ say in the Gospels?

"From whom do the kings of the earth collect duty and taxes—from their own children or from others?” “From others,” Peter answered. “Then the children are exempt,” Jesus said to him.-Matthew 17:26.

Prophet Muhammad (Sallallahu Alayhi Wasallam) also placed Jizya Tax on foreigners.

And why should we even have MTN in Nigeria when Globacom can provide the same services that MTN provides, and their revenue and profit are circulating in Nigeria? Why?

Our tax regime must work first in favour of Nigerian companies the way South Africa's tax regime works to favour South African owned businesses.

Nigeria must be run in a businesslike manner.

This is a practice in the European Union, England and the United States. Let me give an example.

The EU, UK, and the US allow African countries to export cocoa and coffee to their domains without much taxes. But if any African country attempts to refine their cocoa into chocolates or their coffee into instant coffee, they get slapped with a heavy import tax.

As a result, and please fact-check this, the whole of Africa, including Nigeria, makes a paltry $2.4 billion from chocolate imports. In comparison, Germany alone makes over €4.5 billion (Euros, not dollars) annually refining and re-exporting cocoa imported from Africa. That is double what the entire African continent makes from her sweat. How is that fair?

That only happens because sub-Saharan African countries, with perhaps the exception of South Africa, do not have reciprocal tax regimes.

The EU, UK, and US are very good at using tariffs and retaliatory actions to promote their own military-industrial complexes. We must also be alive to this and assert ourselves economically.

Let us impose exactly the same taxes that Germany and the EU impose on our cocoa and coffee on Lufthansa. We can spare Siemens because we need them to boost our power infrastructure. They cannot complain. It is economic tit for tat.

Nigeria must use her tax regime to promote and project her own military-industrial complex, the same way that Western nations do. Otherwise, we will perpetually remain a third-world nation with sluggish economic growth.

#TableShaker


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And both do not even pay their staff well.

They overwork them to achieve such enormous profits.

Hmmmm. Nigerian government has to sit up, enough of the father Christmas we have been doing to these countries st our own detriment. Tax them all and encourage our local investors. Reno has really been making alot of sense. I really hope president Tinubu is listening and reading

Wise but counter productive bcs foreign investors would be discouraged from investing in Nigeria

And the Nigerian owned telecom network is just a trash. GLO can't last a day in my phone; their service is so irritating and network speed is zero.
Airtel is a better competitor but then they are not Nigerian owned too, prolly not even African.
So I love my MTN!

The ranting Reno that has no investment anywhere in the world is jealous of another man's success. He want balablu to drive foreign companies forgetting that Twitter and Facebook that is feeding him are all foreign companies

Leave MTN alone

Why didn't you advice GEJ then?

but revenue is not profit...infact they are far far different from each other

Just rate the contributions of certain guys on this thread. You will know the stuff they're made up of - brain wise.

Reno makes lots of sense. Tax and business policy is about national interest first and foremost.

Likewise reprocity of policy to every Nation in terms of dealings be it economy, migration, defense and coalition.

Nigeria need to put South Africa in it's place.

For those shouting Glo and Airtel are not good enough. If you know how MTN use to frustrate every new entrants into the communication business you will credit those that survived the onslaughts. MTN will deliberately not allowed other network connect to it's line. My main line is MTN which I bought at 18k in early 2003. With over 20years of using that network it's good but with negative competitive policy same goes to DSTV

whizzler:
Hmmmm. Nigerian government has to sit up, enough of the father Christmas we have been doing to these countries st our own detriment. Tax them all and encourage our local investors. Reno has really been making alot of sense. I really hope president Tinubu is listening and reading

How's Nigeria doing father Christmas to MTN? Is it MTN fault Glo is useless and has failed to compete with MTN?

Housing:
Reno makes lots of sense. Tax and business policy is about national interest first and foremost.

Likewise reprocity of policy to every Nation in terms of dealings be it economy, migration, defense and coalition.

Nigeria need to put South Africa in it's place.

For those shouting Glo and Airtel are not good enough. If you know how MTN use to frustrate every new entrants into the communication business you will credit those that survived the onslaughts. MTN will deliberately not allowed other network connect to it's line. My main line is MTN which I bought at 18k in early 2003. With over 20years of using that network it's good but with negative competitive policy same goes to DSTV

You guys are just jealous of MTN because they know how to run thier business. What Reno is asking for is not feasible. MTN has done their job right, so they deserve to be at the top.

Nah this type of corporate Nigeria need to tax more

Victory662:
And the Nigerian owned telecom network is just a trash. GLO can't last a day in my phone; their service is so irritating and network speed is zero.
Airtel is a better competitor but then they are not Nigerian owned too, prolly not even African.
So I love my MTN!

I love MTN too, I only use MTN and Airtel. Is no one's fault Glo have choosen not to improve all this while.

If Dangote is in charge of Glo, Glo would be at the top right now. Adenuga Glo is not interested in competing with Airtel and MTN, he's comfortable with the market share he controls and not ready to level up.

Throwback:
And both do not even pay their staff well.

They overwork them to achieve such enormous profits.

Are you working in MTN or you know who's working there?

MTN knows how to run a business. Glo should sit up instead of people attacking MTN. People have been complaining about Glo network issue all this while and there have been a little improvement on the issue.

Ikaeniyan0:
I love MTN too, I only use MTN and Airtel. Is no one's fault Glo have choosen not to improve all this while.

If Dangote is in charge of Glo, Glo would be at the top right now. Adenuga Glo is not interested in competing with Airtel and MTN, he's comfortable with the market share he controls and not ready to level up.

Exactly

For the first time this man is making sense and seem he didnt sniff his powder today

Ikaeniyan0:
How's Nigeria doing father Christmas to MTN? Is it MTN fault Glo is useless and has failed to compete with MTN?

We need to encourage our own to grow. Then if the foreign companies (not particular to any pls) are to renain they should he taxed as they taxed heavily especially as regards funds dent to their countries. President Tinubu should surround himself with people who have the foresight to explore avenues to grow this economy.

Serious issue I

whizzler:


We need to encourage our own to grow. Then if the foreign companies (not particular to any pls) are to renain they should he taxed as they taxed heavily especially as regards funds dent to their countries. President Tinubu should surround himself with people who have the foresight to explore avenues to grow this economy.

Government has been taxing MTN or do you want the FG to overtax them? Glo should sit up and compete against mtn. I wish Dangote is the owner of Glo, I can bet my money Glo would have floor MTN by now

Ikaeniyan0:
Government has been taxing MTN or do you want the FG to overtax them? Glo should sit up and compete against mtn. I wish Dangote is the owner of Glo, I can bet my money Glo would have floor MTN by now

Bro why are u particular about MTN? Like I said it should be across board over all sectors of the economy. If overtaxing them will make our own grow sef why not. Why do countries ban certain products and services? Chinese govt encourage their companies not just to grow but to even explore other countries. We are not too small for that my brother

Such a naive and disjointed tax proposals from the Op.

None of the things he said is practiced anywhere in Europe or America. He doesn't understand the tax practices in those places.

Soth Africa has not stopped Nigeria companies from entering and competing in their market. Nigeria simply donesn't have the products, or technology that can do well in SA at this point.

But tat can change in the future.

As someone mentioned above, the government can look at enthroning better competition by forcing MTN to open its network for use by other telecom companies at a price that works for all sides.

This is funny after misfired attacks on the igbo race , they have channeled their arsenal on multinational corporations .

First they came for the socialists, and I did not speak out—because I was not a socialist.

Then they came for the trade unionists, and I did not speak out—because I was not a trade unionist.

Then they came for the Jews, and I did not speak out—because I was not a Jew.

Then they came for me—and there was no one left to speak for me.