₦airaland Forum

mrvitalis:
A country with revenue problem is giving tax breaks?

Read properly. This time around, slowly

CodeTemplar:
That's like borrowing to fill a leaking container instead of block the leakage point in the container. You have to borrow faster than the container is leaking to maintain the content of that container and grow it.

Tell it to America and UK

Brendaniel:
And one appointee under his administration is buying his 4th house in Canada using stolen funds from Nigeria in just a year plus, see who claims he is fighting corruption...

Which appointee is that?

Betta Edu was the only one with a case and was swiftly suspended by the president. Who else?

doggedfighter:
Where's Penkelemes ?

Hereditary Nickname of the Minister for Power

Let's hear from you.

Me: Alimosho Local Government, 18 hours

Surulere, 20 hours+

This is Penkelemes

President Tinubu Introduces Affordable Housing Mortgage and Consumer Credit Platform to Combat Corruption and Improve Living Standards

In a bold move to address Nigeria's housing crisis and reduce corruption, President Bola Tinubu has launched a groundbreaking initiative known as the "Renewed Homes" mortgage program. This new policy allows Nigerians to access affordable housing mortgages with repayment periods of up to 30 years. Alongside this, President Tinubu has also introduced a comprehensive consumer credit platform, fulfilling his campaign promise to make essential goods and services more accessible to the average citizen.

Renewed Homes: A Path to Affordable Housing

The Renewed Homes initiative is a significant step towards solving the long-standing issue of housing affordability in Nigeria. With mortgage terms extending up to three decades, more Nigerians can now realize the dream of owning a home without facing the overwhelming financial burden typically associated with property ownership. This long-term mortgage plan is designed to spread out payments over an extended period, making monthly installments more manageable for citizens from various income brackets.

The program is expected to not only provide immediate relief to those struggling to secure housing but also to stimulate the construction and real estate sectors. By increasing the demand for housing, the government anticipates a surge in construction projects, which in turn will create jobs and boost the economy.

Consumer Credit Platform: A New Dawn for Financial Inclusion

In addition to the mortgage initiative, President Tinubu has launched a consumer credit platform aimed at broadening access to credit facilities. This platform will enable Nigerians to purchase essential items such as cars, appliances, and other necessities through installment payments. By making credit more accessible, the government aims to reduce the need for citizens to engage in corrupt practices to afford these goods.

During his campaign, President Tinubu highlighted the link between financial pressure and corruption, arguing that many Nigerians resort to unethical means to acquire basic necessities due to the lack of affordable credit options. "Corruption thrives when people are forced to steal to meet their basic needs," Tinubu stated. "By providing accessible credit facilities, we are removing one of the major incentives for corruption."

The consumer credit platform is expected to have a transformative impact on Nigeria's economy. By enabling more people to buy on credit, the government hopes to stimulate demand across various sectors, driving economic growth while simultaneously improving the standard of living for millions of Nigerians.

Fulfilling Campaign Promises

These initiatives are in direct response to the promises President Tinubu made during his campaign. He vowed to tackle the root causes of corruption by addressing the economic challenges that drive people to desperate measures. The introduction of these programs reflects his commitment to creating a more equitable society where citizens can access the resources they need without resorting to corruption.

Moreover, the Renewed Homes mortgage and the consumer credit platform are part of a broader strategy to enhance financial inclusion in Nigeria. By integrating more people into the formal financial system, the government is laying the groundwork for sustained economic growth and stability.

My Final Verdict

President Tinubu's new policies mark a significant shift in Nigeria's approach to housing and financial services. By focusing on affordability and accessibility, these initiatives are poised to reduce the financial stress on ordinary Nigerians and curb corruption by eliminating the need for desperate measures.

As these programs are implemented, the government will need to ensure they are accessible to all Nigerians, particularly those in lower-income brackets, and that the necessary infrastructure and regulatory frameworks are in place to support them. If successful, these initiatives could set a new standard for economic development in Nigeria, bringing the country closer to achieving widespread prosperity and stability.

Source: My Humble Self

sIfioksq:
This is a step in the right direction. Tinubu understands the need for job creation and is making moves to stimulate the economy. Let's see how this plays out for our youths.

Definitely 💯

Salewa97:
Bola Tinubu is really showing us that he means business!

This tax incentive strategy is a game changer for job creation in Nigeria. Just like he did in Lagos, he’s set to transform the economy again.

More jobs mean more opportunities for our people. We are all in for this ride! Let’s keep supporting our Jagaban as he takes us to greater heights!

It's a win-win for all

GreatKingg:
This is a good initiative, but only if the administration can truly implement it.

We have heard so many stories way too long to believe anything coming out from successive governments.

Again, I still believe the reforms being carried out by this administration is necessary. Of course, there is always going to be some short and mid-term suffering/hardships, but if the government could provide some cushions to the citizens while the hardship phase lasts, we stand to gain a lot in the long run.

I have high hopes for NIGERIA. We will get there one day, irrespective of whoever occupies the seat of power.

He has done it before, he will do it again. Based On Belief

President Bola Ahmed Tinubu has turned one of his key campaign promises into a reality by implementing a groundbreaking tax incentive strategy aimed at driving employment across Nigeria.

This initiative, which mirrors the successful policies he implemented as the Governor of Lagos State, seeks to incentivize private firms to employ more Nigerians by offering them significant tax breaks. The strategy not only fulfills Tinubu's commitment to job creation but also aims to stimulate economic growth and increase productivity across the nation.

The Genesis:
During his tenure as Governor of Lagos State, President Tinubu faced the daunting challenge of managing Nigeria’s most populous city with limited resources. To tackle unemployment and spur economic growth, he introduced a policy that granted tax incentives to private firms that met certain employment criteria. The results were remarkable—Lagos witnessed a surge in job creation, and businesses flourished under the favorable tax regime.

Fast forward to his presidency, Tinubu has drawn from this successful blueprint to launch a nationwide initiative. By replicating the Lagos model on a larger scale, the President aims to create a ripple effect that would significantly reduce unemployment across the country.

The Mechanics of the Tax Incentive Strategy

The newly implemented policy offers tax discounts to private firms that employ a specific number of people. This means that businesses that contribute to job creation are rewarded with tax breaks, which in turn reduces their operating costs. This policy is a win-win situation: while businesses benefit from reduced taxes, they also contribute to solving the critical issue of unemployment in the country.

The strategy also takes a long-term view of economic growth. As more people gain employment, their purchasing power increases, leading to higher consumption and demand for goods and services. This creates a positive feedback loop, where increased demand drives further business expansion and job creation, ultimately leading to sustained economic growth.

The Win-Win Outcome: Benefits for All

One of the key advantages of this policy is that it benefits all stakeholders involved. For employees, the policy translates into more job opportunities, which directly impacts their quality of life. More employed individuals mean more taxpayers, thereby increasing the government's revenue base. This increased revenue can then be reinvested into infrastructure, healthcare, education, and other critical sectors that further drive national development.

For the private firms, the tax incentive not only reduces their financial burden but also encourages them to scale up their operations. With more financial resources at their disposal, these firms can invest in technology, infrastructure, and human capital, leading to greater productivity and profitability. This increased productivity further strengthens the economy and positions Nigeria as a more competitive player in the global market.

A Step Towards Sustainable Economic Growth

President Tinubu's tax incentive strategy is more than just a campaign promise fulfilled; it is a strategic move towards sustainable economic growth. By fostering an environment where businesses can thrive and creating more employment opportunities for Nigerians, the President is laying the groundwork for a more prosperous and resilient economy.

This policy is a testament to Tinubu's vision of a Nigeria where economic policies are not just theoretical constructs but practical tools that deliver real benefits to the people. As the nation begins to see the positive impact of this policy, it is clear that Tinubu's leadership is steering Nigeria towards a future where economic growth is inclusive, sustainable, and beneficial for all.

Personally, I believe President Bola Ahmed Tinubu's fulfillment of his campaign promise through the introduction of tax incentives for job creation is a significant milestone in Nigeria's journey towards economic transformation. By leveraging the power of the private sector and creating a favorable business environment, the President is driving the nation forward, one job at a time.

Source: My Humble Self

Betnomore:
Bro it is not biased. If i had dropped this review before selling it, who go buy am?

I had to sell it first as I was a victim and as we no see binary007 again and neutralmind no reply my messages after telling me he will escalate to management. But I made sure I sold it to someone of lesser weight and it wasn't on this platform I sold both. Shey make I just lose money on top two beds. I comot the bed and keep for my dining wey I dey sleep for couch and my wife dey sleep for my children's bed cos I no want make the bed spoil. Make e still dey as e be a bit. I hope you understand where I'm coming from

This one off me

BAZ001:
Just stop lying Mr Fiverr dashboard
There is high chance of getting visa yet thousands of Nigerians are queuing up at different embassies every morning.

Lyìng that what exactly? That you're an oprhán? Or a frùstratẹ́d one? Or that you k1lled your parẹ́nts as a bẹ́witched kìd or that your ill-lùck also got your adọ́pted mothẹ̀r jailẹ́d?

Which of them is a lie?
Or that you never got a job under Jonathan but got an appointmẹ́nt and you used Nigeria's money to júmp from one business class to another?

Answẹ́r náà

So overheating is no longer for newbies and riders without experience?

BAZ001:
This one no know anything but jump at every topic.
Cho Cho Cho typical Lagos Yoruba agbero mouth.
They make loudest noise yet not making sense

So there is high chance of getting visa and you never get one since msheeewwww.

You this ùnfortunate ọ́rphan. I guess you're bored again right?

VeeVeeMyLuv:
You are just decieving yourselves! For how long?

What's the amount in value? And dollars? The same level! Nothing changed.

The high double, triple figures seem high to you guys in terms of naira, because of naira devaluation from N750 to N1700 to a dollar presently N2000 at some point.

You can't fool the people, you guys are just fooling yourselves.

@ N750 to a dollar for instance revenue acrue from crude $1b x 750 = 750 billion naira

@N1700 to a dollar, revenue acrue from crude will now be the same $1b x 1700 = 1.7 trillion
naira

As you can see nothing changed, the situation remained the same, except the destruction of purchasing power

nedu666:
What a load of rubbish. You devalue your currency by 200% then start celebrating increase in revenue. $1billion was 750 billion in May 2023. Today $1billion is 1.7 trillion.
Firs generated 12 trillion last year @ 750 is 16 billion dollars. If they meet this year target of 25 trillion @ 1500. That is 15 billion dollars

Whatsapp update

GreyWolf01:
If I say your response is the height of idiocy, I might be termed to be harsh.

The drivel you spewed, are they the indices for human capital development?

Allocation and distribution of rive will reduce cost of living?

In fact, I change my mind, you are an idiot.

So you skipped the part where your governors are receiving extra 40% of their allocation to focus on only rice? Continue

OkCornel:
How many people were employed by Tinubu’s government in the past 1 year.

Awaiting figures

Only 1 mád mán at Upper Iweka bridge

Philipponzaghi:
What a remarkable turnaround! President Tinubu is truly a visionary leader. The numbers speak for themselves—tripling revenue and slashing the budget deficit is no small feat. This is the kind of economic miracle we need! The suspension of taxes shows a commitment to support businesses and stimulate growth. Trust the process indeed; the future looks bright for Nigeria under his stewardship!

Hopes will surely be renewed!

OkCornel:
Dear sycophants

On August 29 2023, Tinubu’s government promised to create 50 million jobs and revive the economy.

This is almost one year. How far with your messiah’s plan?

Where is the economic revival? Where are the jobs?

https://www.nairaland.com/7821154/tinubu-sets-3-year-economic-revival

The president Tinubu's administration has deployed an indirect employment technique such that will teach youths how to catch fish and not only give them fish

1. 3mtt.nitda.gov.ng
2. Supa.itf.gov.ng

Training of youths and creating employment for them. If you believe he has not done enough in 1 year, there's another president in Agulu who can provide you with all collars of jobs. Go to him.

GreyWolf01:
And this has affected people's welfare and standard of living, how?

This wail1ng should be channeled to your state governor's office because the president has increased his allocation by over 40%. He also gets bags of rice.

If you can't hold him responsible, wait for disbursement to LG Chairmen, it's easier to beat those ones.

Cheers 🥂

On the ongoing fiscal reform:-

Oil revenue made up 30% of total revenue in Q12024, compared to 11% in Q1 of 2023.

Non-oil revenue in 2024 has been surpassed by 30% in H1 2024.

Revenue for H1, 2023 was N3.4 trillion, Revenue for H1, 2024 is N9.1 trillion.

Despite an expanded budget in 2024. From N22 trillion in 2023 to N35 trillion in 2024, Budget deficit as we speak is down to 4.6%. 2023 budget deficit was 6.1%, Government is on track to reduce deficit to 4% by the end of this year.

FIRS is on track to make N25 trillion this year, last year they made N12 trillion.

Government expected revenue this year is N28 trillion.

We haven’t pursue aggressive widening of tax net, we haven’t increased tax rate, we haven’t added new taxes. We have Infact suspended VAT a lot of commodities, removed Witholding taxes for MSMEs, suspended excise duties for telcos, suspended cyber levy tax, suspended stamp duty fee on some transactions. We also haven’t implemented our new national tax policy

What PBAT has done in one year is considered an economic miracle.

No president in history of the world, that I know of, has been able to bring budget deficit down by 2% ( from 6.1% to 4.%) and Debt repayment : Revenue ratio from 98% to 68% in his first year in the midst of stagflation ( inflation and unemployment).

Revenue again is EVERYTHING

Trust the process !!!!

Source:
Opebee | Twitter

LagosPrince:
I live in Lagos and I'm telling today that the Yorubas Lagos indigine don't like tinubu. They speak ill of him and vowed to vote against him again in 2027.

Keep replying yourself.

hisgrace090:
The only solution Nigerians want from Tinubu is for him to return this 3 things we're he met them,
1, petrol price.
2, naira to dollar price.
3, electricity price..
Your palliatives annoys Nigerians, just do this and know peace.

Who did you vote for in the last election?

TheModerator:

https://www.youtube.com/watch?v=qPekVbJIyV0

https://www.youtube.com/watch?v=lrgp1pMZNSw?si=dwyMXrHKXV9oGerY

TheModerator:

https://www.youtube.com/watch?v=ePzJwds2-3k

https://www.youtube.com/watch?v=BQuEcS6MjAE?si=spIgDr8b2pk32OM7

Omoapena:
America actually, he said 5years visiting but I doubt that

5 years visiting for conference visa? Lol
Except if you're getting a B1 or B2 visa (Business) which is valid for that long but you can't stay more than 6 months.

The visa person expects that you seek asylum within that period. In America, you can stay as long as your asylum request is still in process which can take up to 3 years

And within that period, you may marry a whitehead. You Gerrit?

Omoapena:
Guys,

What's the consequences of getting, probably a visiting visa for conference meeting with the intention to japa on arrival...

The chances of getting the visa is high but in order to stay put, you need to seek asylum or hide your head around till you marry a whitehead. To seek asylum, you need to declare as a bí-sexual Or gay or show proofs that Tinubu is after your life. The last part is how Rinu, DJ Switch and others do japa.

Best of luck

Danisaint112:
From the look of things, this is likely going to play out. With the way they have been holding meeting with Militia chiefs and using military presence to instill fear in the mind of Nigerians.

One place I am certain it will turn a disaster if someone get shot, is the core North. Those Abokis, bike riders & Almajiris don't hear sorry.

I believe soldiers there would respect themselves like they have always been doing over there but flex their military muslcle in the South as usual.

One of the many reasons no South East states will participate in the protest. We have eaten blame, accused wrongly and died for Nigeria enough.

Let those who feel the need to protest or feel it's the solution to Nigeria's problem do the protest. Yes you all have our have our full support. Perhaps, APC might listen and start getting things right.

But a lady from South East can submit an official request to the police to enable her lead protest in Lagos.

Legend

kcprince:
If this is true na wahala o. I think they should face only those that don’t invite them for stage certification.

One influential man who is building near my site has never invited these people to come and inspect his construction and funny enough it has never been sealed. They should find a way to make everybody follow the laid down procedure rather than looking at your political status.

Overall lagos is doing a good job in building supervision but there is room for improvement

Nothing but the truth n

Atk1nson:
Where is donbrowser?

Even if he is a failed uber driver, he was still an exciting member here.

Lol. Don't start what you can't finish.

Someone asks for advice about using V6 for Uber.

Scenario 1:
Me: Don't try it
Them: shut up, I know someone using it, don't mind dB....

Pearl: You won't make good money, get something lower
Them: That's very correct, it's suicidal to use V6 for this job


Scenario 2:
Someone asks which low budget cars can he use for the hustle

Me: based on your budget, you can get Eod or DC, just watch out for the legs
Them: how can you advice him like that, you're delu$ional,...

Few days ago...
Check their response on similar enquiry.

We all know what we're doing. Thanks for checking on me. I'm good and how's your family too?