₦airaland Forum

There is nothing wrong in imposing sales tax on telecoms and oil. 5 percent is not too much but it can't add much to revenue. PMS can drop to 600, so how much is five percent on that? It can even drop to 200 if everything changes across the globe and oil crashes. Nothing wrong in paying 210 instead of 200 but the missing tax that can change everything in Nigeria is personal income tax. However there is also need for more VAT. VAT collection can triple what is currently being collected

Nobody will even know they are paying tax if minimum wage is high enough

Hostages are rescued regularly in Nigeria even some were rescued recently or is it long distance operations outside your territory alone that counts?

The irreparable fault line of the popular out of ancient Africa theory explanation of the origin of humanity


The question is can human beings who were hunter gatherers live in the area of Morocco in North Africa where the most ancient fossil of Homo sapiens was found, for centuries without reaching Southern Europe if Europe were free of ice? And the answer is No.
If therefore you are saying human beings originated in North Africa, you can as well say they originated in Southern Europe and you will still be right.
The reality however is that no kind of life can exist at any time in Africa without the equivalent existing in South America at the same time and the only reason the equivalent may not exist anywhere in the Northern hemisphere at that same time is because of ice or glaciation.

Gerrard59:
Please let's crack better jokes, abeg.

Which group is the second largest group and tell us the cities they occupy

The value of an entrepreneur to an economy

The value of an entrepreneur to an economy is that they keep many people gainfully employed permanently without asking the government for any special favors or concessions.

It takes a lot of discipline to be able to do this and I have done it before is why I know. I have built a business from scratch that employed fifteen people with all of them coming to work everyday though they were all youth but they could solve their problems with their wages and a number of them were living alone

If anybody is doing this in any country, in any sector of the economy then they are one of the pillars on which the economy of their community is resting. Don't say the sector they work in is not high tech. It does not have to be high tech. It is even more noteworthy and also commendable if it is something mundane that anybody could have done.

Sheuns:
I hope you’re getting paid for all these defense you put up for these politicians. I mean real good pay. Don’t do it for free.

Nigeria has no revenue problems, we have spending problems from our so called leaders.

You claim there’s revenue problems, yet politicians budget far more money to service their lifestyles than healthcare.

21bn naira was spent to renovate not build, renovate the VPs residence while a whole ministry of health got less than 1bn naira for a whole calendar year.

Tinubu spent over 100bn naira to purchase aircraft for himself and budget less than 50bn naira for student loans.

Many more. Tell me how that revenue problems doesn’t affect the politicians but only the people.

There can be a revenue problem alongside a spending problem. It is not a given that once you have a spending problem you can't also have a revenue problem but how you spend your money is generally determined by where you got the money from so source of money should be solved first before wastage can be curbed. Don't expect a yahoo boy not to waste money

If all neighboring countries have more government revenue per Capita than Nigeria then Nigeria is lagging behind in revenue generation or in government revenue and that is a revenue problem. If all developed countries have government revenue to GDP higher than Nigeria then that is obviously a revenue problem and you shouldn't debate that

The money they say he mismanaged can not be missing within a budget the size of Nigeria's budget is the problem. So those who are accusing him equally have a problem

seunmsg:
$750,000,000 will add a little about N1.1Trillion to the Federation account annually. Big addition to the monthly revenue of all the tiers of government without the usual noise that will follow any attempt to increase payroll tax.

Oil is say 30 billion dollars per annum or less and it now represents 25 percent of federal revenue which means federal revenue is expected to be like 100 billion dollars this year unless published data is not accurate. What difference will 750 million dollars make?

AMINDA:
Despite all these, Tinubu and his immediate family moves in a 70-vehicle SUV convoy and he has the largest cabinet in the history of this country. All he knows is taxation, loans and revenue but impact is zero. You can only tax prosperity. Tinubu has impoverished Nigerians and yet he continues to squeeze.

On the management of the resources at his disposal, no serious person can say he is doing worse than any of his predecessors. Maybe he is not doing well enough is another question.

On revenue generation. Maybe we will have 70 billion dollars in revenue this year. Are you saying 25 billion dollars would have been better as it was before? Then who are the people being over taxed? Is it the civil servants or the people in the OPS with well paying jobs?
If the cost of living crisis in some cities were not there and the minimum wage is increased some and enforced on all employers then the nation will be on a very sound economic footing and the remaining challenges will be infrastructure and security

seunmsg:
Persona Income Taxes in Nigeria goes to the state governments 100%. Federal Government does not get any kobo from personal income tax. Again, the PIT law was amended last year to reflect Nigeria's fiscal policy direction. Nigeria is moving away from direct taxes to indirect taxes. Personal Income Tax is a direct tax so we can't go back to pushing it up. Indirect taxes are way easier, more efficient and less controversial.

Yes it is states but any money that goes to any tier of government benefits the people. A Lagos taking 30 percent of it's GDP will be almost as liquid as the FG. It would be more liquid if not for the new revenue of VAT and CIT

seunmsg:
Nigeria has a revenue problem. In fact, that is our biggest problem right now. We also have a citizenry that wants freebies. We want free or subsidized PMS, free education, free electricity, free healthcare services, beautiful bridges and roads that are not tolled etc. However, anytime the discussion shifts to how to raise the money to pay for all these freebies, the irresponsible opposition jumps out to put down the discussion. So, where do you think money for the freebies will come from? Heaven?

If we want development, we must be willing to pay for it. That is the only way we can develop. If we refuse to take the issues of revenue generation seriously, we wont make any meaningful progress as a country.

Not much revenue can be gotten from the telecoms and oil sectors by way of sales tax. I don't think their gross in total is up to 15 billion dollars and if there is a five percent tax on that, you only get 750 million dollars

It is better for government to go after personal income tax that remains almost a virgin territory. I doubt if the new sales taxes being proposed can add up to one billion dollars to the federal government revenue. Local governments too should go after the taxes allowed them by the constitution

Gerrard59:
When power is expected, rightfully so, to return to the north after Tinubu's tenure, which ethnic group is expected to take over?

P.S. Fulanis taking over means 24 uninterrupted years of Muslim presidency.

If Nigeria remains one, the next Northern President should be Yoruba if there is anything resembling fairness and/or equity. The Yoruba are the second largest ethnic group in the North after the Hausa and they have gotten nothing up till now

Happy birthday to President Donald Trump of the USA


Today is President Trump's birthday. I wish him many more years in excellent health and prosperity. He leads the US and therefore all the US effort for a better US and for a better world including a better Nigeria too and most especially the extra ordinary intervention on my side led by the USA which is why I am safe and alive today. Even before becoming President, he was firmly in support of the US intervention in Nigeria to help me, to save me from all the people trying to eliminate me for having an opinion. According to my findings he dismissed all the edited videos my adversaries were spreading to discredit me and etc even when some people were swayed by the edited videos.

Congratulations to him on his anniversary and congratulations to his whole family. May he spend many more years in excellent health and prosperity. More grease to his elbows too as he continues to do his best for the USA and for the world.

When is a nation rich?

A nation can never be rich in the western sense when the average rent for a family is less than five hundred dollars per annum for instance

However a nation is undoubtedly rich in reality when it has a very high HDI, good infrastructure and a thriving economy supported by a very high government revenue to GDP ratio.

Rich is not well defined is why some countries are regarded as poor

Sirjamo:
So this is your proof of me defending her murder?

You want me to praise her for abusing prophet Muhammed?

I condemn her murder
I also condemn her utterances

People actually should be able to say facts about Mohammed. Nobody is making stuff up about him

And if I buy a book (not your book but mine) and I burn it, it should not lead to Muslims trying to lynch me especially if that book is not an idol to them. Muslims say one thing and act the opposite. They say don't worship idols but they worship a man and a book amongst other things

Radicalwarrior:
You are talking Nonsense.
Tinubu must be impeach or godswill Akpabio will be remove as Senate president

Did I mention Tinubu in my post? I answered the proclamation that a Yoruba will never be President again. However Tinubu for pulling the country out of oil dependence is the most successful President since the fall of the first repubkic

Kushites:
BS.

How are their neighbours Cross River State, Akwa Ibom etc, suffering?

They have better Infrastructure than Cameroon.

Plus Cameroon is economically and technologically stagnant compared to Nigeria.

The idea with your balkanisation theory is that it is geopolitically foolish.

Breaking up into little unviable states easily bullied by western powers, China etc, is just plain senseless, when you should be doing the exact opposite. Creating large economic blocs to centralise resources to build a civilisation AT SCALE.

instead you want to remain little Liberias and Gambias.

RUBBISH.

Nigerians are not one people. Simple. We don't even speak the same language. Our constitution is fraudulent and unfair etc etc. We have security challenges that can only be solved by dividing the country. Then Cameroon is better than Cross River and etc They don't have epileptic power for instance and they would have been having it if they were Nigerians.

Why keep a country together that do not even understand themselves? We can cooperate but unity is counter productive

Congratulations for escaping the brainwashing and programming

If you don't want to worship idols. Fine but stop the bull shit of last prophet and castigating people who choose to worship idols! Live and let live.

The dissent against any kind of monopoly is a dissent ordained by God. If people like what you are doing they will ask to join and there will be no intimidation or threats involved nor brainwashing and programming

samwash:
Even if all the states in Nigeria divide into different countries, they will still inherit the problems of Nigeria.
Dividing Nigeria is not near the solution of the present day Nigeria.

No they can't. They will not have security problems for one. They will flush out the bandits and etc and no section will want to be left behind so they will join hands to develop their land. The part of Cameroon that broke out of Nigeria decades ago is not suffering with Nigeria today

andrewza:
Dont talk about tax and no tax when your country cant tax any one.

Illegal people are paid under the counter by companies. That's why they love foreigners. They pay them half the pay and it not taxed.

They then send that money home where it added to that countries consumption

If people are able to work informally in any country including my country, it is that country's fault. I wonder why you are blaming the workers for that.

Tax is what I have been campaigning for for decades. Who are you to tell me not to talk about taxes that you have no understanding how it works?

Your understanding is that a foreigner working in your country is stealing your jobs and not a co builder.

Meanwhile you can't touch the foreigners making it in your country. It is only the ones that can't afford their flight home that you harass

andrewza:
That the point. They illegally in the county or working illegally in the country.

They not contributing to taxes but benefit from the national budget.

If people are working in your country and you can't tax them, that is your fault then even if you don't tax them, their consumption still adds to your GDP and if you have no GDP you don't have anything to tax

As Elon Musk becomes a trillionaire. Don't compare GDP to net worth

I have seen comments online saying Elon Musk is now richer than all but 15 to 20 countries that have a GDP of over one trillion dollars. Another person said he is now richer than the whole of Africa

However comparing GDP to an individual's net worth is the same thing as comparing income to investment. The GDP of a country is income earned in one year in a country, it is not the net worth of the country and the net worth of a country can be said to be the investment that earned the GDP or income. It will be the value of the country assuming no redundant assets but there are always redundant assets like virgin forests, untapped minerals, unused industrial capacity and etc

A country with a GDP of 100 billion dollars is using assets worth over one trillion dollars to generate that GDP and it may not be using one tenth of it's assets because how much of your asset you can mobilize and use as a country is determined by the number of human resources you can mobilize.

Therefore a country with a GDP of 100 billion dollars has mobilized capital worth at least a trillion dollars if we assume ten percent returns on investment per annum and such a country may have even twenty trillion dollars in assets not mobilized. This is why you can not compare an individual's net worth to a country's GDP.

Then you can not also compare stock holding or equity to something like rental property or fixed deposit. If I had my way, I would make a law saying banks should never advance any loan worth more than five percent to ten percent of the value of stock being used to collateralize such loans. This is because if you have rental property, you can be sure of maybe three percent per annum returns on it which can be taxable and if you are not expecting three percent per annum returns on stock holding that can be taxable then stock holding should not rank the same as real estate when seeking for loans.

In conclusion, no single human being is worth what the asset that even just one million human beings represents. No single human being is worth more than a country of one million people or even five hundred thousand people

andrewza:
Illegal Foreigners are a drain on the nastion. They weaken the GDP not strengthen it..

They dont had to the government budget they drain it.


Dont act like Spaza shops and hairdressers are a big deal.

Mining, industry, banking, tele communication, farming are the source of how GDP not the small business migrants run.


There are not major Nigerian companies here there some one running a car wash.

If a law abiding immigrant is a drain on your economy, that is your fault. All economic activities are equal if the economy is well managed. Then no matter how you maneuver, the fact still remains that if one person leaves your country, what they consume will leave your GDP.

Igbophobia:
Rigging, rigging...rigging ...rigging...rigging...rigging
You got the message now?
Make it free and transparent, we all know Obi would win.

So the APC also rigged Jonathan out? The fact is an incumbent can be defeated because it has already been done once.

Radicalwarrior:
You are the one day dreaming, president tinubu is a one term president of Nigeria and the last yoruba president of Nigeria.
So wake up from your dreams and get to work.

SW pays 40 percent of the taxes apart from the Yoruba in the NC and SS. You want to shut out the cow that is being milked, shut out the chairman from the board? Join us that are asking for the dissolution of the country

andrewza:
If they go back to Nigeria there shops wont be looted? Though seeing how poor the average Nigerian person is they wont have a shop.

No foreigners are stealing jobs. They work for under minimum wage

That nice happy you not here. Please tell your friends to stay in Nigeria

Really then why there so many foreigners here.

If everyone leaves your country, the GDP would be zero. If many people leave, then the GDP will drop and government revenue which is gotten from the GDP will drop too. You can't take everybody though but when you drive people out, be aware of what you are asking for

Omoawoke:
It seems you still live in delusions to think majority of Nigerians want to live in your country

Pls validate this statistics and challenge me

1. Less than 80k Nigerians are in your country…

2. Out of the black immigrants in your country, less than 3% are Nigerians

3. The population of Nigeria is over 200 million , we have 80k at max in your country… so it means less than 0.05% of Nigerians care about living in South Africa

This means, we have over 99% of Nigerians who have never had anything to do with your country…

So based on this facts above, what’s the probability that I would know someone that live in South Africa?

None of my family members both extended and the entire family at large and I have a very large family… not a single one has lived in South Africa or have plans of living there

I don’t have friends there…

I have only known 2 people in my entire life living in your country… old time colleagues and they are there legally

Among the Nigerians that recently came back.. it’s hard to meet anyone that knows anyone’s that was among them because they are less than 1k people which is almost negligible compared to our total population in Nigeria .. so this is simple fact, maths and logic
You guys really live in delusions and think you are way more important and relevant than you are

Hello sir, I don’t care about country and I would never care… i only enjoy hating you guys because you guys are an embarrassment to the entire black community

Nigerians in the US are not up to one million, how can there be 80k Nigerians in South Africa? More like 20k or 30k

bayplus:
So you think Dangote is rich based on these low margin Cement factories?

So The Dangote Sugar refinery in Apapa, lagos.
The Dangote petro chemicals and fertilizer refinery in lekki both of which has given him more money and opportunities do not count?
Where is Dantata ? Dangote's Uncle that was purported to have given him a loan of N500,000 in the 70's to start Cement importation business.

Success has many families, failure has none. If Kano is that prolific as Sanusi want us to believe, he should list more billionaires who are Kano based and not politicians apart from Dangote and Isiyaku Rabiu.

May be then we can believe him.

Bua sugar refinery are all located in lagos.

Dangote was down and almost out of business during Yar'adua administration. Check majority of his associates and workers. There are not many northerners. He would have long gone out of relevant if not the quality of the associates he has from other regions. Remember Obasanjo sold Kaduna refinery to him and otedola, Yar'adua revoked the acquisition and Kaduna refinery has been the same sorry State since then.

Despite the success we see from outside, it has been an uphill battle for him to rise. We were all witnesses to what a fellow northerner, farouk of NUPRC did to him and his refinery. You can all fill the gap yourself.

The revenue of his companies are not secret. Dangote became the richest because of cement. I don't think there is any question about that. The refinery in Lagos is new and it can only succeed with the current ownership structure if oil import is banned like cement was banned.

If there were peace, their consumption alone will increase the GDP by around 15 million dollars per annum

Codes151:
Amaechi is not presidential material.
He was never and will never be


Minister of transport.

Tufia

A Former governor of a state second only to Lagos in igr?

Even now the police don't work as if they are under one command
One lawyer wanted to evict me from a mall, he then went to the Area command Moore in Ile Ife and they refused him saying he should file a civil suit. He then went to the AIG zone 11 or so in Osogbo and they came from there to arrest me in Ile Ife and I would have spent the weekend there in Osogbo if not that my parents came from Ilesa with a letter from a retired AIG who also spoke with them on phone.

At the end of the day he had to file a civil suit which he lost.

Any government tier should be able to establish a police service and if they overdo themselves they will pay through their noses. That is why lawyers are there.