favor914:
50 Naira 3 year charges will accumulate to 1 million Naira?

That means @ least 2 million transactions of 10 thousand Naira & above must have been carried out on that account in the last 3 years?

This your maths no jive o. For charges to be N1mln, you need 20,000 (N1,000,000 /50) transactions.

Fulgur:


It is completely unlawful, almost criminal to backdate implementation when such transactions have already been conducted based on existing standards.

This government is not just hopeless, it's definitely corrupt. It is a tax regime.

Its not backdating anything. The law was in place and signed by Buhari on 1st Jan 2021!! FIRS simply didn't enforce it for the foreign currency transactions the way they did for naira!

Back dating is when you sign a law today and say it should impact transactions from 2021!!

There is no case of backdating in this one.

I can bet 99% of folks here between Jan 2021 and now who have domm account haven't received up to 30credits into that account, which is N1500!

Even if you work remotely and paid every month, max that's 36 credits in your account, which is N1, 800. Basically a charge of $1.50 for 3 years!!

Tealcrestmedia:


Laws are created by humans and you don't slam unnecessary and wicked laws in people else they will revolt. Imagine a widow or poor family in Nigeria that's been receiving support from their relatives abroad and have probably spent the money, you want to start now to back bill them? Does that make any sense?

So even if said widow received $100 a month since then, that amounts to $3600 since then. At a average rate of say $/750, in that time she has received circa N2.7mln. But she will be asked to pay N1,800. That's 0.06%!!! So N1,800 in the context of N2.7mln is the issue?

What is wicked bout N1.8k!? ($1.50)

You all want Nigeria to be like America and Britain. Common tax of N1.8k una no fit pay.

sslcrypt:
Please can someone explain this properly. So for example payment made to my company by foreign customers will be charged now, dating from 2021?

So if in Year 2021 total number of transaction was 15 with the total amount of 3 million. Does that mean 50 naira will be deducted from 15 transactions made? Because I don't understand, so what deductions were made then payments were been made then?

The answer to your question is Yes!!

Using your example if you received N3mln, why is N750 an issue?

Tealcrestmedia:
What kind of daylight robbery is this? Why not start from where your administration started from? What's the rational behind doing the charges from 2021?

That's when the law came into effect

RenaissanceGuy:
Meaning you can receive a debit running into N1m as cumulative charges from 3 years ago

Calm down na! You'd need 20,000 seperate dollar transactions to mount to N1mln. Even oil companies probably don't have, 20,000 credits in their accounts in that time.

No need to over senstionlize the matter!

kernniejay:
Truth is that federal govt workers are the most miserable in Nigeria. Banks, multinational companies, conglomerates etc have doubled the salary of their staff and everyone has moved on while govt workers are still begging for ridiculous palliative.

Which nonsense doubled. I beg say the one you know for sure. I work in a multinational and we never see a any increase yet. Though our annual pay review is ongoing now but I hear it we see 30%sef we go dey lucky.

My sister in law in zenith got like 60% from N700k to N1. 1m

dre11:
Tinubu Minimum Wage: It’s N200,000 or … NLC raises negotiation team; Labour President lists conditions


•New regime expected to take effect April



https://www.vanguardngr.com/2024/01/tinubu-minimum-wage-its-n200000-or-nlc-raises-negotiation-team-labour-president-lists-conditions/

I don't have a problem with N120k or even the N200k, but civil service and government workers need to be reduced by 30% first of all.

KingLennon:
The present tariff is even too high and you want to increase it? I think this will affect only PDP and LP supporters?

Na wa for you o. E for kuku be free

WriterNig:

If Nigerian airforce issued such a statement, people on nairaland would say it's lie, that boko haram shot it down!!

UncleKoboko:
IT'S ABSOLUTELY A LIE THAT SUBSIDY HAS BEEN ENTIRELY REMOVED.

When subsidy is fully removed, we won't have a stable price with all these inflation.

As at when subsidy was removed, 1 dollar was around 800 naira. Now 1 dollar is around 1,300 and price of fuel is still the same.
UNA DEY FOOL UNASEF.

I'm curious what Nairalanders have the bigger problm with. Is it the lie or the fact that there is still subsidy.

If it is truely a lie, how does it benefit you if they tell the 'truth' that their is subsidy. If N600 petrol is indeed a subsidized price, are you then happier to pay an unsubsidized price of N900?

By the way if diesel is N1080 using $/N1250, shouldn't NNPC's petrol be cheaper at $/N890? Of Course NNPC operates at the offical rate, not black market. Maybe not as cheap as N600, but certainly not N1200. Cos i've not seen any country I have travelled to, where petrol was more expensive than diesel.

bdon123:

Try good beach or landmark beach n tank me later.

Even the Good beach is too small o jere. Not more than 100m width. Different people have just segmented small, small portions of that stretch to be doing beach. A real beach is one where you can walk in either direction for at least 1km and even up to 5km and stretch your legs.

ppogba:


Thank God you mentioned NYC as your example.

It's not the population that determines the provision of airports for a location. Rather, the flow of business activities, the prosperity of the inhabitants. MMA which is the foremost airport in Naija does not process as much air traffic as the airport in Jo'burg which does not have thee quarter of Lagos population.

Thank God for your commonsense! Heathrow processes circa 75mln passengers. Maybe the guy thinks the population of London is 80mln!! Let me give him a hint, its only 9mln!!!

muykem:
Lagos suppose to have 4 functional airports and 3 seaports.

4 functional airports for what? Even London has only two key airports - Heathrow and Gatwick, though Heathrow has 4 terminals.

Heathrow processes circa 75mln passengers per year. MMIA does about 7mln!!

We just need to optimize departures and arrival times better at MMIA. If the old terminal is brought back to life, MMIA T1 and T2 is okay for Lagos. Even the one in Lekki isn't really needed in my view. Governments just like to do big projects so they can steal money.

How many Nigerians really have N2mln to travel. A lot of the travel in the past 12 months has been one way travel for those japaing.

https://www.statista.com/statistics/226451/passenger-traffic-at-london-heathrow-airport/

CommonSense1967:
Flavor, kool guy.

I was sitting next time him on a flight recently. Seem very humble and very approachable.
I normally don't even care to say hi to any superstar, I don't get star-struck but I spoke with him, and he was very cool.
I sat next to Davido, Debanj, Salawa, one of the P square boys, and any others I didn't really care to have any conversation with them.

Only you abi? Bobo of the highest order!

Yestogood:


Fear. That's why. Special forces and soldiers are what you need for these operations, not the black on black uniforms.

I agree. The Level of professionalism of the officers in the video is poor. If were Tinubu I'd send 1000 of Nigeria's best to USA to be trained as special forces for one year.

When they come back, they will be divided into groups of 20 or 50. That will be 50 or 20 units. Each unit will be sent to Hotspot such as southern Kaduna, Plateau state, Ondo axis and middle belt to stop herders incursion on farms etc.

All units will be monitored by a central command center. The command center will know where all units re are with sattelite technology. All units will be backed up with armed drones that will be in the air round the clock. Extra units will be on 24hrs call at NAF bases, ready to be transported by chopper if necessary.

Each units will have 2 sharp shooter rifle handlers, that can make a kill from 1km away. Each member of the unit will have communications built into the head gear so they can communicate quietly over fairly large distances, while ll being in contact with the command center. Each unit will have the capability of stying in the bush for 2 weeks. If necessary, they will be resupplied with helicopter drops of bullets, MRE foods, water and treatment kits for local water sources etc. Each member of the unit will also have night vision goggles on their head unit so they can move ND conduct operations at night.

Each unit will have those trained in tracking and a medical person to provide stabilization of serious injuries prior to evacuation.

As C in C, my steer would be that in event of any abduction of villages, schools etc like 4 of these units should immediately be dropped in the bush in the direction of escape ND comb for the kidnappers. This is where the tracker comes in useful. The instruction will be to pursue ND recover. Constantly stay on the abductors trail. All of this will be monitored with sattelite technology from the control room, who if they spot what looks like the abductors moving through the bush will redirect the units on the ground.
If the abductors are seen ahead by the units, this is where the snipers come in handy. You can safely take them out one by one from a Distance.

When the folks know that they will lwys be pursued and chances of dieing are like 90%, they will reconsider. It's becuse currently chances of dieing are like 10%, that's why more and more people go into it.

Pierohandsome:
So they couldn't gun down any of the criminals or even arrest one? Only in naija such happens

So you expect criminals in the face of overwhelming security forces to stay there and fight and die abi? You think criminals too don't value their lives?

ogawisdom:


People or companies are governed by laws, how hard is that for you to understand? Naira is our legal tender not USD. It's illegal to conduct business in Nigeria in USD, get that into your thick skull.

Dey there. Crude is an international commodity, so there are other international laws and contracts that also govern it, not just your local laws.

Racoon:
What else does the world expect when a bunch of grab it criminals with zilch knowledge of economics are mismanaging the economy?

So what’s your own solution to the economy?

Just give us 5 bullet points

naijapips04:


The best thing I've read this year. Aside status, owning a house is not a good investment. For a struggling guy, grow the shit out of that 25m. 25m in a good business should give us at least 70m in a year. Rent and grow this. In , 4 years, use the residual income to buy a house. Don't go and dump all your life savings in a house.

Everybody is complaining about the economy, businesses are shuttind down and nigerians purchasing power continues to dwindle. even essentials are a struggle, yet you loosely say N25mln should turn to N70mln in a year. If it was so easy, why is everyone not doing it??

DissTroy:
His wife and kids, like Turai Yar'Adua and kids, prevented him from getting proper treatment. They prefer what his status as Governor could offer than his well-being and chose that status over his health without it.

A lesson to men. When it all comes down to it, you are nothing but a provider to the woman you labour for. Your kids are an extension of herself.

You are disposable. When you have kids with a selfish woman, every progeny she bears you would despise you or use you.

Wild and baseless assumptions. The guy was abroad in Germany for months, yet you say he didn’t get proper treatment. Na play he go do for there?

kolexy:


Are agree with your point about some know business leaders being government made. However, someone like Otedola has never traded in crude oil. He made money from importing and distribution of refined products..
Just like the other marketers.

How did he get his start in the first place!? Na beans to be governor son? Most billionaires in Nigeria are from government patronage, favour or govt corruption.

Bill gates - computers
Michael Dell - computers
Walton family - supermarkets
Mars family - chocolate
Mark Zuckerberg - software/social media
Elon Musk - space, cars, twitter

E money -?
Obi Cubana -?
Dino Melaye -?

IfnobeGod20:
1.) It's More Easier To Be A Dollar Millionaire/Billionaire In Nigeria:

You forgot to add that those making it into millionaire and billionaire list are those with chains of businesses across board and not salary earners or petty business owners. Same way many of their millionaires and billionaires have no traceable business outside their domain. Let me be precise, no business in Africa, except in America, Europe and Asia. So the issue of millionaire or billionaire is not a function of location but a function of hardwork and thinking out of the box. The Dangote's name that featured in forbe didn't feature there because he has only business in Nigeria but his chains of businesses across board.


2.) African Communal Living:

That was olden days and not now that very many members of a family or community are finding it hard to eat and to meet the daily needs. Yes, olden days, members of the family or community rally round their people in need but today they go into hiding because the load on them is unbearable and would not want to heap more on it because of another person's issue. I have catalogue of examples to buttress this and this is largely due to economy reality.


3.) There Is More Insecurity Abroad:
Is there any place there is no insecurity. Just the same way there is insecurity in the far north of Nigeria that sleeping with two eyes closed is impossible for the inhabitants of these places. There is also financial insecurity that has dealt upper blow on over 60% of the citizenry.
In the months to come there is probability that the insecurity would be more if the economy doesn't changed. Because the reality on ground is a time bomb.

4.) Easy Access To Natural Foods:

You're right here.


5.) Favourable Weather Condition Throughout The Year:

You're also correct here.

6.) No Racism:
The episode of racism in Nigeria is even more higher than any racist act anywhere. We are now experiencing what almost consumed Rwanda. We now see tribe racist again tribe in the same country. You see religion racist against religion in the same country. Every tribes are suspicious of others. Yoruba doesn't love Igbo. Igbo doesn't love Yoruba. Yoruba doesn't love Hausa. Hausa doesn't love Itsekiri. Tribal fight is now prevalent everywhere and in every forums you entered.
The only black country that racist themselves because of the tribe and religion they belong.


7.) Nigeria Better On Raising Cultured Kids:

That was olden days. Children of nowadays are the must uncultured set I have ever seen. No respect. No reverence. No cultural value any more. Abi no be same country you see youths throwing insults at their elders with contrary political ideology. When you see OBJ, Pa. Adebanjo, Soyinka, Clark, Jonathan, Tinubu, Buhari, Bode George and many you can ask them.

8.) Nigeria Better On Entertainment And Fun Activities:

That is to those that are entertainment freak. There are many that don't give a fork about side attractions.

9.) No Weird Or Crazy New Culture:
Remember that there new culture does not negatively target people but to give full right to those want to practice whatever they like. Nobody would arrest or molest you because you refused to be gay or lesbian. Their law is not like shari'a law that also target non-muslims. The negative impact of new cultures is more in Nigeria than abroad, no need hiding behind one finger.

10.) Cost Of Living Is Cheaper:
The idea peddling around about the cost of living higher in abroad but cheaper in Nigeria is something I don't always buy. Until we sit down and ask ourselves the comparative advantage derived in each places and what is the minimum wage in comparison to cost of living in both.
There are hundreds of Nigerians that their take home cannot even buy a bag of rice, lest they buy any other items. Some rentage now, that is a self contain is almost #300,000 to #500,000, depending on places. Tell me how would someone earning #30,000 cope?
The cost of goods and services are skyrocketing everyday in Nigeria. If you buy good for #10 today after three days, the price would have gone to #20 and non stop like as the days goes by.
The cost of living was fairer before but not now in Nigeria because of bad policies of our government. In abroad today you can so two jobs in a day that will fetch you good dollars but that can it be said in Nigeria. Your one job of less than #30,000 take home would wary you down that would not even afford you time for your immediate family

11.) No Rat Race Or Extreme Taxation In Nigeria:
But with their extreme taxing they still see money to send home while we that are not too taxed can't even feed our immediate family members well more of giving to people around us. I will be glad to live where I would be heavily taxed but still have what to throw around to help people around me.

Please whoever want to Japa kindly do so because all the points the OP raised are belated.

On points 10 and 11, it's relative to your income. If you earn.poor income in Nigeria, which unfortunately most do, then this won't make sense. But if you are one of the lucky few who works in oil industry, banking at Mgr and above, in the big 4 audit firms etc then this is relatable. If you earn N1mln a month net, you'll likely have more disposable income and saving than someone who earns $4k net.

I have lived in US and Nigeria and cost of food is cheaper in Nigeria. In US, asides junk and processed microwaveable ready food, proper food is not really cheap.

Armaggedon:
Congratulations to her
However, she neither creates wealth nor is she an entrepreneur. She is a government made billionaire and a beneficiary of the people's commonwealth like otedola, danjuma etc

We should encourage wealth creators and thinkers like Innocent Chukwuma, Cosmas maduka, Elumelu etc

Which elumelu. Elumelu that was forex round-trip per with crystal bank and standard trust before buying uba.

DesChyko:
They can see how things look after this festive period. The highest percentage of luxury goods and what-nots are purchased during this period. They can compare their books to previous years and after factoring in inflation, make their decisions.

I'm not sure what effect the plans of the Deputy Senate President will have on their books though.

The most that can be done is negotiate with the owners of the mall for significantly less rent to allow the anchor tenant to stay.

edogu:
Hadi Sirika, the former Aviation minister and the Attorney General should equally be arrested too.

These and many more yet to be unravelled contributed immensely in crippling this country economically.

And it's high time EFCC stop chasing yahoo yahoo boys and focus their attention on this 'big fish'

All criminals must pay!

Beverlyjean:
Well ...the sharp ones will make about 800k a months after calling money from sorters

Is that your definition is sharp?

pedel:
False information.
You pay 0% tax on the first £12,570. 20% basic rate tax on the part of your income which falls into the next tax bracket (£12,571 up to £50,270). This means you'll pay 20% tax on £37,700.
Anything you earn above £50,271 to £125,140, is taxed at 40%.
Your income over £125,140, is taxed at 45%.
That's why you see those footballers with fleets of expensive cars. That is where they put all their earnings to avoid paying big taxes.

Buying car doesn't remove the obligation to pay tax on the income.

Bliss62:



Cheating by lecturers earning multiple salaries from multiple university , earning as visiting lecturer, earn from private schools, earn for supervising Masters Students


Atleast they can stop their useless ASUU strike


.

Who told you its cheating? if as a seasoned professor, I am invited to be a visiting lecturer at another university, why should i not be paid for it.

Academia is not the same as regular job in a bank where you only work for one bank and cannot work for another. Doctors also operate a similar system as Professors. So if you require a heart surgery in UCH, Ibadan and the only qualified heart surgeon works for ABU Zaria, you will say he cant come to operate you in UCH abi? And if he does, won't he be paid by UCH?

Ikaeniyan0:


#1.2 trillion for capital project

Sounds like a lot, but ya'll should remember Naira devalued by 100%.

Won't be surprised in the dollar value of 5years ago capital budget is more than today's own. Meaning it will do less.

AmazingELixir:
Op where is Finidi George in that list.....Finidi achieved far more than any of them in that list.

Man was a celebrated star in Ajax Amsterdam with several league trophies and Champions league to cap things up, left for Betis in Spain and continued his onslaught, a CAF nations cup winner etc.

Finidi should be in that list ....what is super eagles and Ajax without their number 7 in his playing days.

I agree. I'd rate Finidi above Amokachi. When Finidi was hot, he was rated as the best No7 in the world.