₦airaland Forum

The GDP of the entire nation of Nigeria, the largest economy by far in Africa, currently is about N130 trillion naira(about $594 billion US dollars)(Wikipedia, list of African countries by GDP(nominal)). The Southwest, one of the six geopolitical regions of Nigeria, has an estimated GDP of about N67 trillion naira( about $305 billion US dollars), more than half of the GDP of the nation.

By my estimates, the Southwest region was the third largest economy in the continent of Africa n 2014! This must be a shock or a pleasant surprise to many people!

But the governors in the region have not adopted a robust revenue generating strategy to tap into the resource base of the region. Taxation of the poor and lower middle-class people is a bad strategy which does not reflect a global best practice. The poor have a greater propensity to spend than the rich, so a taxation of the poor is counter-productive as it eliminates the boost to the economy that their spending provides.

Taxation of the rich, middle-class, and upper middle-class, but not the poor, is a global best strategy to raise revenues for the operation of government, the provisioning of infrastructures, robust security apparatus, and social security services that benefit everyone: the rich, the poor, and the disadvantaged in society. Fortunately, there are millions of rich people living in the Southwest: naira millionaires, multi-millionaires, billionaires, and trillionaires available to be taxed.

If the governors of the Southwest had adopted a comprehensive income taxation for revenue as their strategy in 2014, they could have raised N13 trillion naira from a progressive income tax range of 0% for the poor, to up to 30% for the rich: ten times more than the N1.3 trillion naira raised last year!

The combined budget-to-GDP ratio of the states in the Southwest in 2014 was abysmally low, about 2% compared to about 40% in many advanced nations of the world. For the sake of argument, a budget that is 40% of the GDP of the Southwest is approximately N25 trillion naira. This is about twice the budget realizable from using a progressive tax bracket of 0% to 30%.

If the enhanced income-tax-based revenues are spent appropriately, the Southwest will become a prosperous region with robust infrastructures, full employment, improved security, and a world-class social security service.

It is widely accepted (on nairaland) that many governors of the Southwest have reasonably performed well. If they had tapped the hidden resources of the region, their performance would have been elevated to outstanding and transformational! We wonder why policies that would have made a difference in the lives of the majority of the people, such as progressive income taxation, had not been vigorously pursued and implemented. Income taxation will also diminish godfatherism and empower the people while swelling the coffers of governments in the region.

With abundant revenues through income taxation, the Southwest will be in a position to stop accepting monthly oil revenue distributions from the center, but be able to partner with Abuja and other state governors in joint projects of mutual benefit that will drive the economic growth of the nation.

The question that must be asked of the governors of the Southwest is this, are they aware that the great book says, for whom much is given much is required?

So much has been given to the region by the grace of God. So much then is required of the Southwest governments. The governors in the Southwest have an obligation not only to take care of the welfare of their residents but to also drive the socio-economic growth of the nation.

In conclusion, to the people of the Southwest, the third largest economy in Africa, ask not what Abuja can do for you, but ask your governors to:

1. Tax the peoples' incomes, a global best practice, using a progressive tax rate from 0% to 30%.

2. Use the revenues from the income tax to fund government operations, build, monitor, and maintain physical, security, health, education, and research infrastructures, and to provide services and social security to the people. As he who pays the piper dictates the tune, politicians will be compelled by the income tax payers to shift their allegiance from godfathers to the people. This will end godfatherism as the dominant factor in politics in the Southwest.

3. Promote exports and the tourism industry.
4. Work cooperatively with the private industry, research and development centers, and the tertiary institutions in the region.

5. Promote regional integration through intra-regional partnerships and engage in mutually beneficial ventures with Abuja and other governors in other regions.

6. Stop accepting the monthly oil distributions from Abuja from 2016, as this is the root of corruption in Nigeria. To curb corruption in the Southwest and elsewhere in Nigeria requires pulling up the root of corruption in Nigeria by ending the shameful exploitation of the minorities in the oil producing states.

http://m.thenigerianvoice.com/news/172621/1/to-the-people-of-the-southwest-the-third-largest-e.html

Baawaa:
The writer,you are not guilty, it is simply because the Yorubas are too hospitality and friendly.If Yorubas have given the kind of treatment the hausas gives the Igbos from the genesis,you will not be saying this trash

Thankfully, most Yorubas are not as bad as you. Go ahead and give Igbo people hausa treatment, by slaughtering them.. primitive animal.

CountDracula:
Wat are dey supposed to do? Arrest dem?

Usher them back to their farm. This is Abuja for ffs.

Thanks to twistaray.

We need more pictures. Thanks Op. Any updates about the railway link between lagos and ibadan.

OkutaNla:
https://www.nairaland.com/2303392/recent-beautiful-pictures-ibadan-pride

God bless you. You just made my night .

natas22:
Pics

where is this?

Edit jebba: So beautiful.

Seriously, what happened to Oyo? If there is one state I want to prosper real bad, it has to be oyo state. Sadly, we rarely hear about any big development from that states.

Doobhem:
What is the net worth?
Which of the forbes list did she join?

One of the most promising and enterprising young individuals, I would have imagined.

MizMyColi:

? Too many witches on nl.

I am happy you are safe. Please go to the hospital to get yourself checked. Thank God for your life.

So much hatred and evil in the world. Makes my blood run cold to read about what humans are capable of doing to their fellow man. Horrific

The initial acquienssence of Nigeria govts in the "let's not interfere, and it will go away soon" strategy, is coming home to haunt us all. The rampagers and killers carrying out their atrocious crimes against humanity have been allowed freedom to do their worst, and of course, gaining confidence and courage to do more and more damage.

Badgers14:
Fair point!! I believe it depeneds on the angle you look at both systems of government.
But the issue just like everyother democratic system is oversight, and proper implementation. The current federal system of government is not the best for Nigeria in my own opinion.

I was looking at the system in terms of regional responsibility, now lately every state have their eyes on oil leaving thier own major source of revenue behind. Then power rotation or hausa was president this year Igbo have to be the next president. Also people tend to look at Federal govt for everything, infrastructures where state government is sort of like left to loot the states resources for personal gains.

Also in the U.S every state makes its own laws,manages its resources build infrastructures then the federal government , supports the state e.g Medicaid, Medicare e.t.c. and acts as a referee if any crisis arises between two states, U.S supreme court makes decision that will impact the whole U.S while state supreme court deals with state laws.

I might not have drawn my opinion very nicely but thats just me. If you could please move the thread to fp so other Nigerians will throw in their opinions.


Danke Schön

Exactly. The system we have now is not ideal at all. I don't like the idea of having to go to the federal government for everything. Something needs to be down to empower each states.
If we can't adopt regionalism, then a partial fiscal federalism is the best choice going forward.

This has to be the biggest step by the northerners so far, in integrating Christians into their society.

This is hilarious. Most citizens can govern osun better than this dolt.

forgiveness:
pic....

cool pictures. Please keep them coming

Any update? Heard about this development on twitter

Anyways, if we should adopt regionlism straight away, you will find many states going bankrupt by default. What Nigeria needs is a slow and strategic shift towards regionalism.

mekonglobal:
With our population i dont think, it will work, nice idea though.

What do you mean it won't work? What does population has to do with regionalism?

He might end up as the best performing governor in Nigeria. Some laudable initiatives.

Sponge3:
I am glad it's summer now and I am in Austin. My apartment in east Texas got hit pretty bad.

Gosh, sorry about that. Hope there wasn't any/many damage? Big old Texas.

I am happy about this. Let's hope wealthy private investors can get involve to make this a reality.

I would definitely go with U.S.A for obvious reasons.....it should cost your more than 3,000 or so to have a baby in

Texas....people from U.K and Canada even fly to U.S to give birth just for the citizenship....

This poster is very funny

sandrannna:
Pls I want to know.

A girl said "u luk like doll baby" like she is finer dan me. I told her to show me her own picture bt she couldn't.
Another person was asking me "is dat u?"

Your attention seeking is repulsive.

Igbo's politics is about survival instincts.

NegeduGrace:
Between toke makinwa and tiwa savage,who do you think rocks this dressing better?

They have similar body. Both look chic, but toke edged it for me.

francizy:
She have vexed..

lol don't mind me. Some people just like free stuffs too much. I doubt the poor ones are even benefiting from the scheme.

Freemanan:
On it

?

It should be on a sector by sector basis.

Of course you are. Shortsighted fools