₦airaland Forum

Taiwo Oyedele, Chairman Presidential Fiscal Policy and Tax Reforms Committee, says the committee is proposing a law to the National Assembly to increase valued added tax from the current 7.5% to 10%.

Oyedele stated this during an interview on Channels TV’s Politics Today.


He also said his committee was working to consolidate multiple taxes in Nigeria to ensure tax reduction.

Oyedele added the tax law the committee drafted would be submitted to the National Assembly.

He said, “We have significant issues in our tax revenue. We have issues of revenue generally which means tax and non-tax. You can describe the whole fiscal system in a state that is in crisis.

“When my committee was set up, we had three broad mandates. The first one was to look at governance: our finances as a country, borrowing, coordination within the federal government and across sub-national.

“The second one was revenue transformation. The revenue profile of the country is abysmally low. If you dedicate our whole revenue to fixing roads it will be insufficient. The third is on government assets.

“The law we are proposing to the National Assembly has the rate of 7.5% moving to 10% from 2025. We don’t know how soon they will be able to pass the law. Then subsequent increases are also indicated in terms of the year they will kick in.


https://dailytrust.com/were-proposing-law-to-increase-vat-to-10-presidential-tax-cmtee/

F117nighthawk:
Mumu NLC, instead of u to fight for a proper living wage,u go settle for 70k as minimum wage,I was expecting nothing less that 100k at least as living wage,now TINUBU Don show Una say he wise pass NLC.
abeg make una go lick una wounds

Small scale biz can't pay the minimum wage. Even in Lagos people still earn less than 30k at my work place.
The reality is that the Fg is not the major employer of labour. Small scale bizs account for 50% while Fg, state and big bizs shares the remaining 50%.
Most Nigerians are traders and Nigeria is such a hostile environment for trading with prices of goods always on the increase everyone is always out to scam each other to survive

Truth234:
They don't need to pay. Just give him crude oil at a subsidized rate and in return have a fixed pump price.

You'll still hear that it cost over #500 to refine a litre

Odua4life:
Nnpc is the sole buyer of Dangote products and marketers will have to buy from nnpc. Its the end of marketers hold on our economy

Everyone should be allowed to buy from Dangote.

Dangote is here in Nigeria, no need for corrupt NNPC middle men.

Having them go thru NNPC will make the product more expensive because NNPC will add its own commission before selling.

What a responsible FG should do is tell Dangote, we want the pump price at #300, how much should we pay to attain this? They pay to Dangote and he sells at a subsidised rate to NNPC which will in turn to sell to others. However, strict monitoring and supervision should be applied by NNPC

If your product is cheaper they won't have a choice.
But if it is same price with imported ones they may opt for the imported since they already have an agreement.

But it pays Nigerians for them to buy locally

Some time ago I connected my friend with someone I met on this forum.
I point-blank told my friend how I met the fellas, that I can't trust him. So he should be extremely cautious in his dealings with him.

Anything online, just exonorate

On this...
I give up finally

Nigerians are not excited about this Dangote Refinery anymore, since it has been hijacked by NNPCL. Nigerians know NNPCL does not act in the best interest of Nigerians

Sparrk007:
allow the boy to find help, Na bad belle dey worry you so

He has to verify the boy first for security reasons. You can't just allow a stranger into your home

For what?!

Do them know the number of policemen waiting to move up in their career ?

OkCornel:
Dear Jagaban lovers,

What is the progress update on Tinubu’s eight point agenda he promised Nigerians in 2023? This is over one year now. How far?

1. food security;
2. poverty eradication;
3. growth,
4. job creation;
5. access to capital;
6. inclusion;
7. rule of law; and
8. fighting corruption

https://punchng.com/translating-tinubus-8-point-agenda-to-recovery/?amp

What about the 50 million jobs promised between 2023 to 2026? How many has Tinubu and his government created?

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

This FG has drastically reduce my family's purchasing power. All I buy now is in derica. Even common Garri. I even buy cups of rice at #300 when I can't afford derica. Lagos govt kept shouting discount market but the market are nowhere to be seen. Or as anyone bought from them last week?

They should sell above 1k to Nigerians to curb smuggling?


How do these fools become minister?
What sort of reasoning is this. This is the same reason that brought us where we are today. That removing subsidy will stop the corruption of fuel subsidy. Look at us now, as the corruption stopped? Nigerians are in abject poverty and these fools have not lent their lessons.
Well, I don't blame them because they're not affected and you'll still some co- fools supporting the removal .

This FG is certainly out to finish Nigerians

ericmor:
You are correct but you saying if it was European players? I disagree with that statement. bro, have you been following Chelsea transfer business recently at all? I guess no.

Sterling is being paid very close to 350k and he's not been impressive with goals

UltimateCSH:
Of what use is this her Miss Universe thing?

After all, it's not a natural beauty and.

SO MY MOTHER WITHOUT A WIG AND MAKE UP IS GOING TO BE MISS GALAXY IF SHE CONTEST.

The xenophobic nationals have infiltrated this forum.

Freshtruth:
Pride wan kill Oshimen wetin be 155k per week at 25yrs of age wey u no feel collect? Year 2014 cristiano Ronaldo a balloon do or winner salary was just 185k per week. Greed

That was ten years ago. Moreover, when you remove the UK tax from that amount it will become smaller.

They guy deserves whatever he asked for , if he were an European player they won't think twice before signing him. All this was because he's African

Warriorplus:
Miss Kwara is fat and ugly, she dosen't deserve it at all, stop this nonsense of yours.

Mind you, beauty they say is in the eyes of the beholder

Segzy19:
I can boldly tell you that it's the black south Africans doing this nonsense.
Dirty people....

Thank God for their white masters.
They would have been worse than Congo or Zimbabwe

Nigerian celebs should jump on this challenge too. It maybe difficult for most Nigerians to spare 2 hunds now

Well, it's a win win for Nigeria.

Chidenma is Nigerian
The Kwara lady is also a Nigerian. ( She is even more Nigerian than Chidinma )

Other contestants just wasted their time and money contesting this year

tunwumi:
Renovation without before and after pictures?

You can guess again

The renovation took place inside the theatre

Richtaiwo:
I didn't get this part. Or, more succinctly, when exactly was it completed?

That was when it was first built

blowjohn:
They should go after kfc that sells aquafina water for 1,500 naira.



They should go after Kilimanjaro restaurants that sell mirinda drink for 800 naira.


They should go after restaurants that sell ehh sauce for 2k.

The ones selling a piece of goat meat for 4k.


Etc

Those are luxury sell.

If I need to drink Malt or Mirinda I would never go to those places you mention except I'm on a date and infatuation drag me there

Fuel scarcity has been on for over a month all over the nation and you want price of goods to crash.

By doing nothing. Even when you do all the negative things Nigerian bizmen will still exploit people.
This govt is a joke

I doubt this figure.

It's highly exaggerated.

They should release the details of the discovery why covering up for a criminal?

I'm impressed.

I don't know the circumstances surrounding where and how he found the money.

But this is quite tempting.

Especially, right now that we're all in survival mode

Mercenary123:
Igbos have suffered in this country. Yet the media narrative is that igbos land is crime infested while in reality the reverse is the case

This is not reality.

There is freedom of movement in Nigeria. Same for armed robbers, an armed robber from the North can go to the East and ply his trade.
All what the stat will show is robbery took place in the East

lymelyte:
that is my observations too... This people sha. They are very quick to mention Nigerians in whatever they do. I think they are also using the Nigerian name to generate traffic.

Nigeria wasn't mention in the post here.

Maybe you read the actual report

Relief is now relative in Nigeria.

How is 620/l a relief ?

aguluobi:
Can anyone alive believe that a certain group of people did not vote for the man that accomplished this project instead they want to force a foolish soul who does not reason in the way of his people on Lagosians.

Claimed is name was Chinedu only to suddenly change it to Gbadebo to fool who ? Definitely not the great Yorubas.

Yet they will be the ones claiming someone voted out of tribalism, can any rationale being give me 1 single reason why you will have GRV vs Sanwolu in an election yet you chose to vote GRV. Do such fools not need mental evaluation to save them from foolishness..

Just one single reason even if it's a bad one n earn 10K.

I'm not holding fort for any side.

I just want to address your illusion of control opinion.
This is what is called self attribute bias in psychology.

You can't say positive result was only achieved because of your decision when you didn't actually test the other decision(s).
We should always recognize the role of chance and external factors

Empty threat always.

You're currently battling Ukraine and you're threatening Europe and America

These Russians should just STFU.

ALL they know is make threat of WWIII.

some the whole world should stand and do nothing while you bully Ukraine?

Brendaniel:
Is this really going to work? business is business, you can't force a business person to sell at lose just to please the government or the people...

Next time carry tribalism or religious sentiment to vote during election and learn more lessons

What the Oba is simply saying is, there should be competitive pricing. Individuals should sell according to their profit margin. No blanket pricing by unions.

If it cost me less to buy my goods ,I should be allowed to sell at cheaper price rather than compelling to sell at uniform price