₦airaland Forum

Mrexcell:
Nice one those thieves debit me #350 monthly for atm maintenance charges.

The thieves voted into power based on tribe and religion

coolcharm:
So the lowered the free transfer from 10,000 to 5,000 and then used card maintenance charges waiver to burr the lines.

🤣

The only person that understands Nigerian tax politics

Enddy50ty:
I know our local banks will take forever to implement this policy and come up with excuses why they can’t make those adjustments.

I also hoped you that this taxes generates the higher minimum wages and salaries of government workers.

saintbillion:
Those bank managers will still device another means of milking their customers

Bank managers or the CBN reducing minimum taxable transfers from ₦10,000 to ₦5,000?

akpumping7720:
I don't know what these commercial banks are maintaining for these high maintenance fees.

Go and ask the federal government that are celebrating trillion naira revenues generated from those maintenance fees

JuanDeDios:
Those banks will find a way to reintroduce them or something similar. I remember when CBN scrapped COT and people were happy. Before long, we were paying what's far more than COT.

Anyway, they've not yet scrapped the egregious "account maintenance fee", so the banks are still balling.

The problem of Nigeria!
The government in power oppresses the masses, the masses shift blames!
Every typical Nigerians knows that the government remove tax with one hand and collect back the tax with another.

FitCorper:
Nice move!
Government should do more to handicap the financial market players, the banks are worse than you can imagine. We the masses have been oppressed for long by these corporate mafias.

The banks are your problem and not the government makes the policy?
Reasons why Nigerians will continue to be suffering and smiling

IsraeliAIRFORCE:
Why Dangote instead of Godwin Emefiele? Truth be told, without Emefiele, Dangote couldn't pull through. Internal and external competition became overwhelming until Emefiele prioritized Dangote Refinery over the interests of all Nigerians and our foreign exchange.

Emefiele? We should celebrating a public servant for doing his job?
Which one is our foreign exchange?

Hez143:
we no longer borrow for that,we are borrowing for infrastructural development

What is borrowing loans for importation and repatriation foreign investors profits back home called?

ZUBY77:
The question is borrow to do what? That's the real question here. Where is the money they are borrowing?

See question!
Imagine the citizen of an import dependent nation asking where they are borrowing.
The dollars used to paid for the foreign and services you consume, do they fall from the sky?

Hez143:
all countries in the world do borrow,even the mighty US and UK.i expect sanusi to know better

Do they borrow for consumption like Nigeria?

overall90:
I shock too
Not just borrowing, the humongous amounts being borrowed from every available source

You are not shocked that Tinubu met the forex rate (official) at ₦470 and devalued it over ₦1,700 and he is currently celebrating it at ₦1,350 as an achievement.
So, if FG used to borrow ₦10 before Tinubu. The ₦10 now becomes ₦100 after devaluation.

ObasaHF:
God bless this emir! Very critical question. If subsidy is gone as been told, the federal government should have sufficient money in it's account to reduce borrowing.

But the reverse is the case and Nigerians will face the economic fallouts.

What's the economics behinds this subsidy matter as factor for improved living standards?

I beg I need answers.

Sufficient money from where?
Sufficient money in what currency?
Sufficient money of what purchasing power parity?
Where was the sufficient money when government was borrowing money to petrol subsidy?

Greatex90:
Very good questions asked about this government.
There is no justification whatsoever for borrowing.
What improvement have you seen in Nigeria as regards infrastructural development.
Security is on zero levels, No jobs,
Commodities are unpayable.
What is he borrowing for.
It's 4 years yet no constant Light.

You quit paying subsidy yet no Nigerian refinery is working.
You nothing to say about this backward APC GOVERNMENT

I find strange that a citizen of an import dependent nation is asking why the government is borrowing we all knows that Nigeria's importation and foreign investments are powered by loans.

Flangelo12:
Africans are no different from Oyinbo when it comes to avarice.

Our problem is not being able to create enough for the generality of the populace.

Create enough for the generality of the populace?
Please can explain that

DomPerignon:
Elon was worth just above $50bn before COVID.

Today he is heading to a trillion dollar mark.

This is not normal.

The only growth in nature that expriences this kind of exponential increase is a yeast culture.

Billioniares like Musk, Zuck, Bezos, Theil, etc are a symptom of a failed system.

They should have been taxed to death and not in anyway made to be seen as a some force of good.

In 2026, you still believe the fallacy of taxing the rich. When in reality, it is taxing the poor.

marlow1962:
And do you think them giving to charity is free? Lol
Charity is another form of embezzlement.

Embezzlement?
How can something legalised 100% by the law be illegal?

Oluwaseunomo:
You will never see people like Dangote in this kind of list

As retiree or what?

Idemujoseph:
very good to give for charity

Charity or there heirs inheriting there wealth indirectly to avoid taxes?

spacechuks:
And yet people whose communities where this oil is coming from are still buying pms through their nose.

As Iran seized the strait.

Niger delta need to seize their oil too.

Buying through there nose?
Is subsidy no longer free money for the rich?

Harry830:
Nothing go positive, this was less during the refinary period, we where expecting to buy fuel as low as 300 to 500, but after finishing the refinary it got worse, no particular value, na just for him pocket

You were expecting to buy a litre of petrol between ₦300 and ₦500 when Tinubu promised to reduce your purchasing power during his electoral campaign?

yemre:
I disagree with you on this. While your submission has some substance, it's not 100% correct in this our black country, considering the greed endemic in us. Interestingly, this goes beyond Dangote, it applies to majority of Nigerians.

Fiscal and monetary policy, yes! But remember the narratives of landing cost when Dangote hasn't started refining. Have you not asked yourself why we stopped hearing about that since Dangote started? Why do you think that the nupeng did everything possible to frustrate the refinery by using his oil workers sometimes last year?

When you make an importation for a product with the landing cost of 1,000 (taxes incl.), you can choose to sell at 2,000 (if you're the only importer). But imagine that you have about 50 other competitors! Some would want to sell at 1,300 for the turnover.

Back to Dangote, he bought crude here and refines here. Why should his own price be anywhere close to that of the importers who pay heavy logistics, shipping, customs etc! Even when he brings in crude, he still enjoys owning all of the bye-products.

Remember your farmers whom Buhari tried protecting by placing embargo on rice importation. What happened shortly after? Local rice simply moved from 6,000 to 75,000! Even without the cost of shipping, logistics and insurance!

It's just what it is.

First of all, the landing of an imported product has nothing to the taxes of the country of production.
There are different grades of petrol across the world and we al know that imported petrol today in Nigeria disappear faster than spirits in Nollywood. Those imported evaporates quickly and let's not forget the marketers selling imported sells 0.7 litre as 1 litre. The 0.3 cheat is there profit 0.7 as 1 litre is the lie used to prove imaginary competition theory.
Finally, Buhari did nothing helpful to Nigerian farmers. Government across the world subsidizes fertiliser, provide cheap electricity, security, lower to no taxes etc. Which of this did Buhari provides?
He provided and still went ahead to increase the minimum wage in order to make Nigerians poorer. As if it was not okay, Buhari partnered with CBN governor Godwin Emefiele to print nairas and make Nigerians more by currency devaluation.

bentenny:
That's based on your opinion which you are entitled to but it doesn't imply you are factual!

The truth is now my opinion?

Username2780:
The economy is bad ? Don't be angry..... Work hard

Angry with what exactly?

Can you stop deceiving yourself with imaginary theories they taught in school. Somebody breaking the commodity he sells into smaller units is now competition reducing the price?

Username2780:
When other refinaries come online things will definitely change we saw how MTN and Econet showed us sege before GLO came and saved us..Glo had no choice but to change the game to enter the game. Back then it was only N500, N1,500 recharge cards that you had to use all your credit within one week with zero over lap. Glo gave us N100, N200 and six months airtime validity.
The Refinary Sector will change as more players arrive. The cement sector has changed there are so many players now and they are selling well.

bentenny:
He is a business man.
You can't be dependent on him.
If our own refineries were working and functioning optimally,do you think he would have increased to the current amount in the first place?

If is your refineries were working, you will buying substandard petrol 3x of Dangote.

yemre:
Very good point bro. BUA, Mangal and even lafarge are relatively unpopular in the market as much as Dangote. That simply means they are not competing enough. This could be in form of marketing, awareness or even product durability and quality. But the leverage remains the lack of stiff competition both in cement and petroleum products.

It's the major reason I would not discourage fuel importation despite having a local refinery because it's not just enough for effective pricing.

When will you stop using the fairytales they taught in school to avoid seeing reality?
The prices of goods and services in every country is controlled by there central bank monetary policies and ministry of finance fiscal policies and not some imaginary stories used to deceive you in school.

inoki247:
Nigerians love slave trade....



That interest doz Service providers are charging are just too much.


25 percent on little money is just too much ...

Are you aware that the CBN monetary interest rate is 26.05?

PlasmaTV:
Tinubu, baba werey
Took dollar from 500/600 to 1.4k
If we talk now, his supporters will say fx unification

Oya, all the money saved, where are they?
Why are we still drowning in loans of billions of dollars?

This man gats go. Tinubu gats go.

FX Unification?
Before Tinubu, there was the official market and the parallel market. After the so-called unification, there is still the parallel market and the official market.
What did Tinubu government unified?

SIGNING CEREMONY

Afreximbank, Co-MLA, Underwrites USD 2.5 Billion of the USD 4 Billion Syndicated Term Loan Facility for Dangote Petroleum Refinery and Petrochemicals FZE
Source: Dangote Industries

Good2go1:
Regardless of the tax, there is no reason it should be cheaper than the country it was manuafactured, because he will incur transport cost to export it, export duties and import duties there maybe other associated charges

Which is it cheaper than where it was manufactured?

sweetjohn:
It should be reduced to 500 naira. You are the producer and the raw material is in Nigeria for God’s sake. Have a heart. Also reduce that your bag of cement is too costly. All your goods is dam expensive. What kind of exploiting billionaire are you? Your mate in other part of the world are helping their country but you are busy exploiting Nigerians together with evil regime.

Good selling at there market prices prices is now exploitative?