₦airaland Forum

dragon2:
The U.S. Govt. does not make money from exports,its American Companies that do.The Govt. Simply TAXES those companies profits.Yet its income from corporate tax is dwarfed by income tax from its 300M+ active productive population. Its proceeds from the 11MBPD oil crude is got from taxing its people who consume the crude internaly not from exporting the crude. The US Govt. does not run companies ,so does not export. Understand?

oh lord of mercy, so you think the tucano that was sold to us in Nigeria, the US did not make anything from it? 11MBP and they are not collecting taxes and export duties cum royalties from the company that drill crude? Oga you are right ooo, very right, continue.

dragon2:
Let me school you.

The Nigerian Economy is oil export dependent,to generate enough receipts to function.Why? Because we don't produce enough local value to run Government. 93% of our Export earnings are oil,which accounts for 51% of Federal receipts. OPEC controls how much oil we can produce depending on Demand and Supply Factors.
Taxation of its people (Income not Corporate) brings in 48% of US Government Receipts at a Hefty $1.6 Trillion dollars. payroll tax 34%, Coorporate tax is just $324B, at 9%.Then Excise,estate tax etc. Our Earnings from oil in the First quater of this year is $13.5B. Estimates for the year can then be said to be around $50B.

Do you see the difference? The max the Nigerian Federal Government can expect as revenue is $120B of which $50B is oil. However,taxation of the people of the U.S brings in $1.6Trillion to the U.S. Government(3x our Entire Economy).

More importantly,the U.S. Government has very little receipts from Export unlike our Government for whom oil receipts are 50%,hence subject to oil shocks. Simply put.The U.S. Government makes money from taxing its highly productive LARGE population and nothing else.

oga lecturer, i will keep on coming down to your level, NNPC which is government owned company generated the bulk of Nigerian oil export receipts in conjunction with the IOCs the rest comes from custom duties and taxes, the US does not av a government controlled oil company like petrobras of brasil or Aramco Saudi Arabia has, that does not mean the US does not export, the US has the highest number of export of goods and services cum its internal generated revenue it dwarfs our own revenue in all aspects, apart from its taxes from its population it will still dwarf our own economy by nothing less than 2 trillion dollars and we are still managing 40 billion dollars, let me break it down for you, its like you comparing yourself that has 40 naira with your friend that has 2000 naira, oga you are poor. We can't produce more than 2.5mbp with our reserves even without opec restrictions right now, we don't have the reserves, and you want to compare that to a nation that produce 11mbp?common give me a break, its not about the exports by the way it's about what the government earns and what the value of what the people produce.

dragon2:
Do you think Nigeria cannot generate more than 2Mbpd? We wont be allowed by OPEC,simple. The 11Mbpd the US generates is not for export,hence not under OPEC,but rather for growing their economy.So yes, the U.S. Government will make a lot of money from taxing its very productive population that consumes that oil. Nigeria's oil Consumption is about 300kbpd and is even subsidised for the highly unproductive population.So whereas the US Government makes money from taxing oil consumption in its country,Oil consumption is a drain on our finances gained from oil production because we are not a productive society.

EDIT

The tax and royalties,is it not from a productive population?

america subsidise it's oil consumption, go and read you talking about export, what's the difference in that with what you consume locally? And you tax, export ts generate marginally 20%max on local taxes, duties and taxes are all the same its all money, opec does not compel non members from increasing their production level,Russia, US, UK are non opec members, Nigeria maximum ever output is 3mbd and we are not currently close to 2mbp, on your last statement, its not, the issue with America is if oil price jumps up more than 30% suddenly its economy contrasts, and no government in power want that to happen on their watch, but if it goes up steadily and with shale oil right now, they might say screw it you all go screws yourself we are good, crude oil is less than 2% of America GDP so why would that affect its spending? Aftect the economy yes, other things that are of lesser value can also. Am done dude I don't think you can understand.

VeeVeeMyLuv:
tax that gofment people habitually use their own two hands to chop.
Lol.

whats the difference in that and export revenue? Point is even if they are not embezzling it we are still messed up because of our population, you can't compare a man. That has one wife two children with a man that has 6wifes 20 children on same salary, that's the issue, we are messed up if we continue this way and China is not an example for us, that's a civilization that is more than 3000 years old with a land mass far bigger than ours.

dragon2:
Let me enlighten you. The 11 Mbpd the US makes is for the internal economy of the US. i.e. for economic growth,not export. Like fertilizer for a farmer. The 2 Mbpd that Nigeria Generates is NOT for the internal economy. Nigeria is like a farmer selling his fertilizer to buy ogogoro. Hence Dutch disease.It is like a farmer addicted to alcohol,who sells his fertilizer to fund his addiction while remaining dirt poor.
Instead of a productive economy that has enough Electricity and Factories to cater for her population,produce the goods she consumes and export the excess finished product. We are all here waiting for the white man to search,find,extract,transport and sell our oil in his country and throw the few pennies we get each month to us to fight over.Lets face it, oil allocation is the life of Nigeria isnt it? Is the monthly oil allocation we depend on generated based on population? No. Hence,our wealth is not based on the productivity of our people but that of the nations that buy our oil. If tomorrow they say oil is 50K we will go broke,even with a population of 5 Million.

A rich country is a country that produces almost all she needs internally while exporting the excess for money. While,a poor country is one that can't produce what she needs even if her life depended on it. It has nothing to do with population. If not Niger would have a larger GDP than Canada.

How is Taiwan's population understandable while Nigeria's is a mess,except that Taiwan has a very productive Human Capital?.Does that Tiny island have any resource? They would have been worse than Nigeria,if they did not develop their Human resource.

lolz I laugh in Cantonese with your postulation, a rich country is what? Oga please this is a public forum, let me explain it to you in a plain language, America does 11mbp we do 2mpd,they have 350 million people we have conservatively 150 million, they tax their oil companies 37% we tax 45%,plus NNPC, do the maths they have more money to spend on each individual than we do, forget about export or import, the point is what does each government get as tax and royalties divided by the population, may then you can understand why our population is a mess and disaster, we are the poorest in the world #fact. The only way out is if we restructure and make our taxation workable.

dragon2:
Please,give me a break.Who uses the oil the US has? Is it not the US itself?! Does she sell it as a natural resource or does she consume it herself AND IMPORT more for productivity? we don't know the value of crude oil viz-a-viz productivity,that is why we sell it for money. To lazy unproductive people,crude oil is a commodity you sell.The US does not have enough,is hoarding what she has,and buys wherever she can.Why? Because she uses it to drive economic growth.So does china,but not Nigeria. Nigeria sell oil the way a drunkard sells farmland.
Population density? Do you know that the U.K. England is more dense than Nigeria with less resource? It is all about growing and harnessing your "people power"

I don't know where you get your statistics from but US has more oil than you think, the oil firms are owned by private entities who pay tax to the state and federal government, not having enough crude does not mean its not getting money from what she is producing, let me break it down for you like a 5years old USA produce 11million barrels per day for a population of 350 million, Nigeria does 2 million barrels per day for a population of 180 million, American produce 5 times what we produce for double our population.
UK population density? That's largely due to migration and the UK also has oil in the North Sea, the UK is not more than the size of South West Nigeria, Taiwan is not bigger than lagos and ogún state together, their population density is understandable, Nigerian case is total mess.

wirinet:
Nigeria's main problem is OVERPOPULATION. When I say overpopulated, I am talking about in terms of available resources. How can you compare Nigeria to to US in terms of resources and landmass. US is about 6 times the size of Nigeria with just over one and a half times the population. The US is rich in both natural and human resources. I hope you know that the US has far more crude oil than we do. The US produces 14million barrels of crude per day, while we barely produce 2million.
Even in Africa, if we consider GDP per capita, we will come out as one of the poorest, due to our massive unproductive population.

nope us is 9 times the size of Nigeria

dragon2:
what resource does the US Government have?....That's right,its people.

please come of it, the US government has one of the biggest oil reserves, alot of mineral resources, the population density is very low compared to ours and yes its people are highly skilled.

dingbang:
There is a command.. Be fruitful and multiply.




Meanwhile esteemed first bank customers, y'all can now perform amazing transactions on the first mobile app such as getting soft loans through the app. Click the link on my signature to register and bank your way.

You first.

who command you to be fruitful and not be responsible? Same doctrine you guys put up and down, same doctrine we have almajiris, touts, prostitutes, same doctrine that has made the nation home of the world poorest, our population is more than our resources

Go girl, I wish I was in your constituency, I would guarantee you nothing less than 100 votes, these oldies cannot keep on holding is in the jugular, most of them have being in politics for over 40years,and they have the audacity to tell you not to run? APC and PDP are just two sides of a coin, worse part is that other mushroom parties are not helping matters, but no matter which party gives you platform even if you don't win, we support you and pray for the best for you.

Ogbuefi2020:
The solution is simple. Declare arewa Republic where Arabic is the lingua franca and islam the state religion. But your parasitic as.s can't live without free oil money. So then you are illiterates no matter what you achieve with arabic education

I tìrẹ ooo, if they can't declare Arẹwà Caliphate, the should practise resource control, true federalism, no one will bother what and which language they communicate with, Boko Haram Shekau is a product of Almajiri system.

Let me help you, just one post and no comment, that's why I want to help you, why the see more? No one will waste their mb to click to that click bait.

fergie001:
I expected Lagos' external debt profile to be high for obvious reasons....but 1.45b dollars is astronomical.....
In the times past,the budget spending of Lagos have been challenged to be made public...but its been treated in a conclave...
The FOI have been used,Lagos has gone to Court that the FOI is a Federal law and not binding on states...Ganduje had joined when quizzed for Kano....I also know their colleagues in other states will shamelessly do same......

Abeg,where Abia 100million dollars enter biko nu?
I wonder where Abia's own entered,obviously the Dan Bauwa or whatever of Daura,Ikuku and his father and then the current "Igbo Aregbese!"

God will help us.....debts our children will still be paying..
Ask those same Governors if they are been owed security votes now?
That one is up to date.......
Pathetic!

that's why we should make sure we vote credible ppl in the states house of assembly

That's pretty much a shark.... Pure fish,

Can someone pls remind me the cost of river Niger bridge? Am confused just 54billion naira?

Now that's a good deed by the governor, not some others celebrating people idling in a room for 3months,stupid just plain stupid.

Restructure or forget about Nigeria, if the VP truly said this APC should forget about winning the southwest.

Can anyone with good knowledge please tell us what the mou is all about? Is the Plantation going to be in ìfẹ́? Most of the posters above me are just clowns.

Buhari that can not build second Niger bridge under three years BMC crew are giving him credit for building this FPSO under 2 years are you guys in dream land? Is it because of lack of projects that you guys are going so low?

sureheaven:
No president can restructure Nigeria for now. All those saying that are doing so for election purposes.

Despite federal government giving monthly allocation to states, many can’t pay salaries, no meaningful and tangible projects in Nigeria.

When the Nigeria is restructured, where will many states get money to pay salaries, do projects and other welfare.
Many governor will privatize everything in the state to raise money, many states properties will be sold off.

We are not ripe for restructuring at all, this is the same mistake we made in 1960 when they gave us independence, till today we’ve not done ourselves any good.

All presidents has the power to restructure Nigeria, the best chance we had was Gej but he foot dragged because he was courting votes from the North, we have 6 political zones currently 4 is yearning for restructuring, which is basically resources control, if you control your resources most of what is in the exclusive list of the FG will automatically be in the concurrent list, power will dissolve from the center to the federating units, be it regions, province or states what ever lexicons you want to put it.

Simbrixton:
zoning presidency solves our problems

what has Kbj, Gej, Yar Adua and PMB Govt solved in their various zones?

homotayo11:
Another point of view..
Some will say going back to regional government

I don't like the word ignorant..

its basically the same thing, regional government or states the main focus of restructuring is resource controlled by the federating units i.e the states or the regions not the federal government, we are no more in the military era why should we continue with their system.

zlantanfan:
One thing about Yoruba's and Northerners they may fight but always have a common point, I observed this when fayose acknowledged tinubu as Yoruba leader on his birthday.

I have also observed this when namandi sambo, sule lamido and the entire northern forces joined the anti gej campaign even when eating under him.

I would love my south south to have this unity too, some other groups can carry people matter for head like gala

you guys with your conspiracy theories ehn, you inherit it from your for father's? How can a sitting VP conspire with the opposition just because his President is not from his tribe, how myopic.

The way this lots thinks, am ashamed to be called a Nigerian right now

HigherEd:
One Jet. And a jet is just a vehicle for transportation. If getting a perspnal car isn't wrong then getting a personal plane isn't wrong.

Universities are not investments but a ministry. Oyedepo is smarter than pouring money into schools for the purpose of profit... He used 30 billion naira to build landmark. That money is capable of building 9 big factories that can generate him and his family cool cash for life. All the factories/farms in Canaanland are owned by Covenant and serves as IGR for the uni. How many real business men do you see investing in university building? Dangote? Otedola? Elumelu? Adenuga?
If Oyedepo wanted to do business he could easily venture into Oil and Gas, Telecoms, Banking and Financial secor, Investment banking and not build Covenant university.
And no the universities are not for profit. It takes 12 Covenant student school fees to pay the annual salary of just one professor. The school has over 120 full time professors with 7000 students. Start doing the math and maybe you would understand universities are not for profit ventures.
If Oyedepo was into business even your Dangote would be a learner in terms of financial networth. But no he isn't!




"But when the Pharisees heard this, they said, “It is only by Beelzebul, the prince of demons, that this fellow(Jesus) drives out demons.” - Mathew 12:24

as per business men owning University you conveniently forgot to Atiku, Elizade, Adeleke are those ones not business men? 7000 students paying 120 profs, that was almost the population of UI when I was there, I will say the school is doing pretty well.

benben1000:
But useless wicked afonjas told us it's only Igbos that are being killed or travel there fore work? All I see here are yorubas. The reason why Igbo news gets out is because there are Igbos everywhere to get their word out. But for Yorubas like these ladies, they don't know a lot of their own there, so many of them get killed and we rarely hear about it. Continue to think it's only Igbo.

you can't even construct good English, how do you understand what you just post?

Shelloween:
I blame Buhari.

not a buhari fan, but you guys are irritating abeg, threads that has nothing to do with politics, please don't bring APC PDP things in here, people died all you can say is you blame this you blame that.

iGISTMORE:
SEE PHOTOS OF THE MAN HERE >>> https://gistmore.com/bbnaija-star-uriel-calls-suicidal-doctor-sending-dick-picture

there is no photo of the man there pls don't click... Bloggers sha.

hurify147:
BUHARI PAID DEM TO RIG IT

not a buhari fan right now but calling his name in threads that has nothing to do with it is boring and making you guys irritating.

TMemos:
Carter bridge belongs to the Federal Government and not Lagos State Government.

So, FG should be tagged and not LASG.

It's very absurd though. How can a bridge which Lagosians use be expected to be maintained by a far away FG?

This is why we need to commit any presidential candidate , in APC or PDP, to restructuring. There is an urgent need to decentralise powers. If not, there can't be quick development.

thank you, and all these APC goons can't see that, worse part is restructuring was part of the campaign promises, but buhari wants non of it, no state police no restructuring.

Where in Abuja did this sad thing happened?

Wilfredpat22:
Well I think when men have become wiser now. Because 100% of us have done this one time or the other. We just want our friends to have a Good Time with us and to know that we are enjoying ourselves so that the friends can go and tell others that they went with their girlfriend boyfriend

It is well sha

are you for real? Wow that's very shallow.