₦airaland Forum

nairalanda1:
What stops the government from providing an enabling environment to make us an industrial nation? That's the question you should be asking.

What stops the government from reducing and eliminating taxes?

InvertedHammer:
/
Toyota Camry 2006

Tank capacity: 70 liters

Cost to fill: N1050 x 70 = N73,500

Minimum wage: N70,000

In 1977, $1 == N0.647k
So N1080 in 1977 was equivalent to $1670
In Tinubu’s economy, $1670 is N2.3m (can’t even buy a used Korope bus)

So what happened?


/

Inflation happened
Increasing the minimum wages in naira to make Nigerians richer on paper and poorer in reality, thereby pumping more nairas into circulation.

nairalanda1:
Well for now most of our revenue comes from oil and it isn't enough

Nigeria should also strive to use it's natural resources to become an industrialized nation. Simple and short. We would be much better than the gulf nations then

If the revenue from oil isn't enough, what stops the government buying shares of the 100 profitable companies rather than taxing them to increase the price of there products while devaluing the naira?

GaskiyaTV:
Strategizing upon strategizing. We will get there someday by the special GRACE of God.

Get where?
Exporting a raw material to China for $1 and borrowing $99 to make it $100 and import back the finished product
Or
Replacing the dollar with yuan while representing the same thing is getting somewhere according to you.

dederocs:
Assuming there is zero corruption, state government would have invested in state industries, manufacturing industries run by private management companies, imagine if subsequent state governors invested in such manufacturing industries, run by private management companies, each year funds are put in to expand the scope of operations, imagine all states doing this, to process agricultural output and minerals resources, imagine the large scale manufacturing units we will have across Nigeria, this will create employment, mobilise local economies, add to our GDP and export drive, and lead to mortgage systems, because more workers will be able to pay mortgage premiums with guaranteed employment all their life...this could have been possible, if governors down the years didn't embezzle but use all states funds on the states, for investment, growth and development. This will generate more revenue for the governors to build houses for the people etc...if you calculate how much states get down the years, you will see what they could have been able to do with it.

Zero corruption?
What has zero corruption got with the facts that your purchasing power reduction announced above?

nairalanda1:
The trick behind taxes is to force more people to be like you...paying attention to the government and restricting their ability to steal



The amount of oil we produce cannot generate enough revenue for a nation our size....which is why we need to vote a government that would make us more productive, not this APC government that shares money.



That's because they can afford to.

Saudi produces 10 million bpd and has 40 million people. UAE produces 2.3 million bpd and has 12-15 million people. Nigeria produces 1.5-8 million bpd and has 230 million people

For us to afford the kind of lifestyle the Saudis live, we would need oil to be around 150 dollars or more per month. If we tried it on the revenue we have now, we would be dead broke...as in no money in the treasury, nothing...before six months are up, plus Nigerian debt would be triple or even ten times what it is right now. You go scream

Again, the best thing for Nigeria would be a government that not only fights corruption BUT makes us less dependent on oil and more dependent on exporting manufactured goods and services. Simple and precise. Better to strive to be a Japan than a Saudi.

Afford to do what?
What has taxing the citizens got to do with the barrels of crude produced?
Is there any law that limits the Nigerian government to taxation for revenue generation?
Are Nigerian government blind to the investment formula used by the Gulf countries to generate revenue without taxes?

Hi

physics12:
I believe there is more money for states to spend. Federal government must ensure that these monies given to states and councils are judiciously used.

Citizens must also turn their attention to state government. Minimum wage must be paid not on adjustment method but on relevant calculate matrix.

States should begin to implement viable projects that are people oriented. We should begin to invest more on electricity generation and distribution, good housing, health care, quality education, portable water, good road network, etc.

God bless Nigeria and may He send us good leaders. Amen!

The law of money
The value and volume of money are inversely proportional to each other.
This means that more money reduces the purchasing power of money. In real economic sense, Nigeria is getting more improvished.
Let's not forget the revenue was generated through taxes paid by the businesses that produce and provide good and services consume by Nigerians by increasing the prices of there products.
In layman's terms, the prices of goods and services are increasing as the government is taxing businesses to announce trillion naira revenues.

Doobie:
Applaud! - ₦1 trillion+ generated from VAT — it shows the strength and contribution of the people.
Now imagine if it were properly utilised for the benefit of taxpayers: Improved power supply, better roads, healthcare, education, and real development.
Sadly, it ends up enriching a few in power instead of serving the taxpayers who made it possible.

When are we going to stop deceiving ourselves with taxation giving us infrastructures.
All those infrastructures is almost reliant on foreign inputs and foreign inputs required foreign currencies like dollars, euros, etc to get them done. Last I checked, Nigerians paid taxes in naira and dollars will be used import the gas turbines and transformers needed for electricity from China. The sames goes for healthcare, roads, rails, education etc. They need forex to function and not naira taxes.
So, why tax the citizens for nairas for developments that requires dollars?

Dalohad:
There is nothing to celebrate about dipping filthy hands into the pockets of people to steal from them in the guise of 'Taxes'..

Oil prices just went up, that is more looting opportunity for your politicians, yet they are insatiable.

Most Oil rich Gulf states do not dip their hand into the pockets of their citizens in the guise of taxes.

Dubai and Saudi are tax-free havens.

When they are done celebrating trillion naira revenues generated from heavy taxes, they asked as stupid question like " why is the prices of goods and services not reducing as the naira is appreciating".

Putindbutt:
I thought wailers said the new tax reform law has been suspended. States that generates more consumption gets more VAT revenue. As states keep getting more funds, it's left to you to hold your Governors to account or you continue barking at the wrong tree in Abuja.

Hold governors for what?
The federal government is reducing the purchasing power of naira through taxation and you are celebrating the volumes of money loosing value.

Rossychy:
So which is better ? Increase in the price of cement ? I expressed my concern on that and the effect it will have on those that will feel it more.

Can we also expressed our concern why those countries will run to seek greener pastures earns there monthly minimum wage between 300 and 1,000 on there local currencies while Nigerians are earning 70,000. This 70,000 are generated by businesses including cement manufacturers through the price of commodities they sell.
So, if we think earning a lot of nairas make us rich, we only impoverishing ourselves.

2tpick:
Yeah Nigerians now get 77k minimum wage due to Tinubu reforms

Only poor countries earns 77,000 in there local currency as minimum wage. Rich countries earns below 1,000 in local currencies

brain54:
So what do you do with the 30 billion...?


Because it's not showing in the transformation of the state. No difference from before!


Secondly states should be viable and stop waiting for federal government to spoon feed them with allocations from federation accounts.


Such lazy states folks we have as governors!

In 2026, a lot Nigerians are yet to know that trillions and billions of nairas are symptoms of a crashing economy. Trillions and billions of nairas that have the values of hundreds and thousands of nairas in the 60s, 70s and 80s.

Racoon:
The free money governors now have access to loot without responsibility or accountability because of shared corruption.

What is the purchasing power of your free money?

Omalicious1:
Let's not blame the dollar...we are our problems. Shay they said inflation is dropping? Is alright.

Inflation is dropping?
What was your money supply before and what is your current money supply?

poiZon:
During GEJ, cement was averaging between 1500naira n 1800naira, minimum wage was 18000naira...
With 18k, u could buy atleast 10bags of cement with ur minimum wage at 1600naira a bag, under reformed change abi Master strategist, ur minimum wage of 70k will only give u less than 7bags....

Thats if the states r even paying the current minimum wage, cos i know quite well most states haven't implemented the new minimum wage up till today...


All the same, the only people benefiting from APC govts since 2015 r politicians, criminals, kidnappers, bandits.

I have said these here before and I will say again.
The higher the minimum wage in naira, the lower the purchasing power and the poorer Nigerians become.

NwokoloOwa:
I can't wait for the cement cabal to be handled like the rice cabal.

Allow importation of bulk cement and see the idiot and devilish Dangote, BUA, Lafarge start crying.

It can help in stabilizing the market like the rice market

Cement cabal?
Government of other countries are subsidizing cements to make it affordable while your own remove subsidy to loot.
Food products including rice are heavily subsidized in other countries while your government only knows how to use natural resources as a collateral to borrow dollar loans and import rice temporary to impress people like you.

Lateef73:
Price of $Dollars is falling yet price of Cement is going up. Economics in Nigeria is different.

Which economics is different?
When the tax collectors in Aso Rock where reforming your tax, what we're you expecting?

Rossychy:
This is not good at all. Cost of apartments will increase. Las las na poor man go suffer am.

When price of land increase, it good investment but when the house built on the land increase, it is suffering.
When are we going to stop deceiving ourselves.

U09ce:
The more you look the less you understand. The main raw material is quarried cheap in Nigeria. Natural gas and coal are also abundant and cheap. But here we are battling high cement prices.
By the way I suspect that the govt decision to switch to rigid/concrete pavement technology is a key factor. Demand has surely grown over the past two years but no reported commensurate expansion in supply. It points to the fact the decision was not well thought through.

Nigeria is the only country while citizens will follow the government to celebrate trillions of naira revenue generated from taxes forgetting the taxes are passed to the good and services they consumed everyday and quote imaginary demand and supply theories to feel good at the end.

Luckybelt:
there are about 50 Americans with Dangote s net worth so Trump may not know him.

Dangote is the richest black person in the world with a $23 billion 7th largest refinery by capacity and Trump who is heavily interested in doesn't know him according to you!
You must be seriously joking?

ogaemma:
Hummm.
With all this and other revenue, Oga is still traveling anyhow begging for loan to borrow up and down.

Loans for importation and profits repatriation for foreign investors

demstone:
being an obidenz doesn't automatically make u denz nah.. u cnt hate tinubu but celebrate governors who tell u dey are only doing better because of increased revenue from abuja

Been an obidenz? Are you the that that made me and obidenz?
Hate Tinubu and celebrate with governors with which revenue?

Up

hotseat:
The NLC, under Joe Ajaero, got this one right.

Just when one hopes that there would be improvement in the power sector, things only get worse.

The way to go is to institute a probe into the privatization process of the sector and name those who "bought" them and possibly get them prosecuted for swindling Nigeria/Nigerians.

Lest Nigerians forget, this privatization scheme took place when the PDP held sway.

Like the NNPCL, the DISCOs and the GENCOs are like familiar spirits of ne'er-do-wells.



@hotseat

What is the relationship between NNPCL, Gencos, Discos and the national grid?

MrEar:
Source: https://www.vanguardngr.com/2026/02/grid-collapse-nlc-threatens-showdown-over-electricity-crisis/

nlfpmod

Last time I checked, the national grid that keeps collapsing is managed by the federal government through the Nigerian Independent Service Operator (NISO) a subsidiary of Transmission Company Of Nigeria (TCN).
What are these failures saying?

demstone:
den why are u celebrating tinubus govs like otti nd mbah but hating on ikpeazu nd ugwuanyi who owed over 1yr salary, obidenz,,,unah denz no b small

Who and you is celebrating Tinubu government?

demstone:
Of what use is an 18k dat only lagos, ogun & a few niger delta states cld pay.. wake-up my broda

The 18k they couldn't paid was more valuable than the 70k they can pay. The richest countries in the world have the minimum wages in below 1,000 in there currency while is increasing her minimum in her currency to make her citizens more poorer.

The 18k minimum wage was more valuable and Nigerians lived a better standards of life with it compare to the 70k devaluation package.

demstone:
minimum wage was 18k in 2015 but 28 of 36 states cldnt pay it.. today minimum wage is 70k , no state is owing nd states like ebonyi & imo pay 105k.. OBJ did well he took our reserves to $65b by 2015 it was $28b , PMB took it to a differential of $3b but today it is almost $50b

Shikena:
It's been officially declared several decades ago that Nigeria's economy defies economic logic.

It is difficult to quantify the natural greed of an average Nigerian businessman.

For example, news of impending fuel price increase or dollar increase is enough for an immediate increase in the cost of products across Nigeria but a corresponding actual reduction in fuel price or dollar value will not reflect in cost of products due to perpetual "we are selling old stock" argument.

When we told you guys that the new tax laws will make things harder for Nigerians, you guys defended with they are "taxing the rich and not the poor", now you complaining of cement prices.