₦airaland Forum

casualobserver:
perhaps you should ask for a refund from your English teachers. The subject was about revenues and I said GDP is not that important (in the context of revenues) if you cannot extract revenues from the GDP. I will give 2 examples:

You are a state with many small holder 1-2 acre farms, your GDP is high but you cannot extract much taxes from them because they are poor farmers. If anything you are the one subsidizing them with fertiliser seeds etc.
Example 2: You are a state with high turnover companies that employ very few people. The company taxes from the huge turnover (GDP) go to the federal government all you get is income taxes but if they dont employ many people you dont get much. A good example of this is oil companies. A good example of this is Oil, you will be shocked to know that for every barrel of Oil a state producues that sells for $80, a state gets less than $3 as its 13% derivation share meanwhile Oil industry does not employ many people and the GDP of that state will read $80. 13% derivation is profit X 13%, crude oil profit = is price of crude - cost of production.

Learn to read properly!

The second scenario you gave is an abnormality in a federation. That is why people argue that GDP figures of subnationals are largely unreliable because of interlinking production processes. That said, it doesn't diminish the superiority of GDP as an economic measurement index. Rather you painted a picture of monkey dey work baboon dey chop.

casualobserver:
To start with your figures are wrong. As at 2022 the total GDP of the SW excluding Lagos was N18.4trllion and The 2 states you are referring to (Anambra and IMO) had a Combined GDP of N12.82T. Nothing would have changed in the last 2 years.

https://yourbudgit.com/wp-content/uploads/2022/10/2022-State-of-states_Official.pdf

https://en.wikipedia.org/wiki/List_of_Nigerian_states_by_GDP


You don’t provide services and infrastructure with GDP. You build infrastructure with taxes aka IGR. It is how much of that GDp translates into govt revenue that matters. The main source of state IGR is individual related taxes. Income tax, property taxes, sales tax etc that are dependent on the purchasing power and income level of your residents. If the quality and earning power of your residents is low, your IGR will be low. A lawyer will charge you 5% on a transaction whether your property is worth N500m or N10m. A lawyer in a state where properties are more in the N300m-N1B category will make more money than a lawyer in a state where his clients average property value is N10-50m…..same thing with state IGR. If it didn’t dey it didn’t dey! There are numerous employees inLagos (not businessmen, not employers, just regular professionals who are employees) who pay taxes in a year more than all of those people in your video combined!

Last word as it seems you want to degenerate this into the emotional. This started as a discussion between the perceived high indebtedness of Lagos V SE states with little or no debt. You are now trying to redefine this by bringing in the SW. This is not a tribal discussion this is a factual assessment of the realities of Nigeria. Resist your temptation to turn everything into a tribal war this missing the point. The SW states of Ondo Ekiti, Osun in particular are just as bad as the SE so rest! They are equally unattractive for quality professionals and businesses just like the SE and they suffers the same IGR conundrum.

Your ability to build infrastructure is a reflection of your revenue. Your revenue is a reflection of the financial quality of your residents. The quality of your residents is a reflection of the quality of your infrastucture…..back to square one! A state will remain in that poverty trap unless it borrows to build infrastructure to attract high quality businesses and the high quality tax payers to break the cycle. In the interim the states that are building infrastructure are leaving them behind and stealing their best residents to finance their development. If a poor state is waiting for IGR to develop, it will remain poor because you cannot afford quality infrastructure and as you finish one poor quality road or school, another is dilapidating so it is forever unattractive to high quality businesses and residents.

A state’s major source of revenue is income taxes and taxes related to individuals.

If you look at the stats, as at 2022 the SE states were falling behind. Your 2 high GDP state featured in the bottom half or at the bottom of almost every metric. Only Ebonyi regularly featured in the top half. Yet Ebonyi is no4 out of 5 in terms of GDP in the SE! This is not about GDP, it is about revenue. It’s no coincidence, expenditure is a function of revenue. Revenue is a function of quality of residents. Quality residents is a function of infrastructure.

SMH...which school did you attend? I l'd have allowed you to continue capping because it's good for your health but for truth sake. GDP is the most important economic measurement index. The greatest individual economic empowerment is employment. When someone gets a good job, whether self employment or paid job, majority of his life problem is solved. Also majority of the country's economic problems such as government IGR, crime, purchasing power etc will be solved. GDP determines all these not IGR. Infact, GDP determines IGR potential
and debt repayment capability. You keep talking of the ''earning power of the residents", how do residents earn? And you used legal services and real estate as examples. Are they not under service sector of the GDP? IGR is nothing compared to GDP especially is an age where most services and amenities is comercialized. Having high GDP with low revenue is a choice but having high revenue (from debt and excessive tax) with low GDP is a time bomb.

The inauguration took place on Wednesday at the Onne Port, where the Vice President was represented by his Personal Assistant on Subnational Infrastructure, Mr. Musaddiq Mustapha.

on a project of this magnitude.

pandax:
Thank God for Ekiti and Ondo States!, it would have been 6/6 for SW

those guys are something else. Ogun just incurred more debts with the Chinese firm seizing FG properties abroad.

Good. Thanks for bringing the true picture. What of Okowa?

chopnaira:
He endorsed Anioma state creation like most Ika people, but he is against having it in the SE.

2nd paragraph. 👇


Even Ned is already changing mouth, and saying it could also be in the South South.

can you show me anywhere in quotes where he rejected Anioma as southeast? That is how to recognize misinformation. The quoted words will be different from reported ones. Ned has always stated that Anioma can be in the south-east or south south for obvious reasons.

Codepain:
Everything is fake as long as it doesn't suit your interest.
Igbos are isolated even their kins don't want to be associated with the tribe

Igbophobia has blinded you. There is no part of the article where the dein of agbor mentioned south east in quotes.

Fake

Unfortunately their indigenes are on nairaland scouting for negative bedroom news to share about Anambra and the East.

Some people will convulse

Onyeka will continue to remain "at large" for the simple reason that he doesn't exist.

Hasty conclusion

Lol

FreeStuffsNG:
Smh. Ignorance is bliss. I can't give you the education and teach you polite manners you should have received from home. Go and read about Starlink Global and its thousands of hectares of functional cash crops plantations now earning Nigeria hard earned forex up to over 30% of non-oil exports. Only empty barrels make the loudest noise.

I didn't put up the post to attract hatred from your ilk but to celebrate Nigeria and inspire those patriotic Nigerians out there to continue to give their best. In due season, they too shall reap blessings from the land if they don't give up. Starlink Global is our own and it reinforce the belief that only Nigerians can develop Nigeria!

May God bless Nigeria for ever!

yea. When you are caught you resort to insults.

FreeStuffsNG:
I hope the naysayers can now see that Nigerian indigenous companies are the real deal! This little known company earns a revenue of over $1 billion annually from Nigeria.
The Founder is a High Chief from Ode Omu, Osun state. Silent achiever with no noise

you are ascribing export revenue to a marketing firm? This is how lunatics in the NBS put up deceptive statistics that service ethnic ego instead providing accurate national information.

Op is correct to a reasonable extent. It all boils down to the power of human resources and value addition. People who have the knowledge naturally rule over others. When you process and export, your currency gains, giving you economic leverage over foreign countries' natural resources. When you can afford to import cheap natural resources overseas, why exploiting your own if you have it. It makes economic sense to save it. When people say Africa is rich, it's more like saying African resources are cheap because of lack of skills to use them solve domestic problems.

Ok

Guestlander:
Most of the armed robbers and kidnappers in SW are from across the Niger.

you choose to believe this one when it favours you.

He is loosing the small grip he has on the party and frustration is setting in.

opamoses1:
Voting has now concluded. Ufa Dania, representing Kwara State, has emerged as the winner of Miss Universe Nigeria Online vote. Congratulations to her!

Miss Chidimma Adetshina came 2nd.

unfortunately, it's the judges that will decide not votes.

Russia air defence is a hoax because of a picture of a building on fire.

It's a loan. Not everyone will apply.

You go explain tire

They think that they'll be spared in an even of an ethnic crisis. They'll end up in disgrace.

Typing:
Why not drop link to proof your claims. Since there is no Igbo company that made the list, you want to smuggle one Igbo man company that have less than 100 staff.

Fidelity, Access, zenith and Uba are Igbo companies.

Odua4life:
my teacher uses to say silence is the best answer for a ........ irrespective of his age.

you didn't learn well. Next time just remain silent.

Odua4life:
My igbo brothers here is your chance to self determination and resource control. It doesn't come better than this. Now will you support a move that will lead to your freedom and self determination?. And ultimately national integration without suspicion.

inferiority complex is a strong thing. From the presidency to all institution is filled with Yorubas yet you can't conceive any idea without mentioning Igbos.

FG setting themselves up for a disgrace once again.

trutharena:
All hands are on deck to resolve the issue.

Mr bot. The supply of gas should never have been an issue.