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Nigerian Oil And The Disappearing Money ( Aljazeera Report ) - Politics (3) - Nairaland

Nairaland ForumNairaland GeneralPoliticsNigerian Oil And The Disappearing Money ( Aljazeera Report ) (37395 Views)

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Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by President2001(m): 5:06pm On Aug 22, 2022
Lai Muhammed will not happy with this report
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Mrtaye: 5:07pm On Aug 22, 2022
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
So the ones that have been pilfering the resources over the years hence causing the underdevelopment, impoverishment and insecurity we the oppressed and impoverished should be taxed for them to pilfeer the more abi
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Lama70(m): 5:07pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
But they are!
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by aiye1988: 5:08pm On Aug 22, 2022
We have evil men as leaders, lacking sense of reasoning.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Sleekfingers: 5:08pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Is Nigeria not bad? Tell me, one thing that is working in this useless country...
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Jeffyblaq(m): 5:08pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Aren't they bad?

What u even thinking?
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Offpoint1: 5:09pm On Aug 22, 2022
We keep making bad names locally and Internationally.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Enumerator(m): 5:10pm On Aug 22, 2022
cheesy
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by chaseblack(m): 5:11pm On Aug 22, 2022
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
How can people who earn 30k pay 150k? you people are wicked o
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by philipobiz: 5:11pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Nigeria is more than bad
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by hkunle71(m): 5:12pm On Aug 22, 2022
We don't know what to believe anymore. The only giant of Africa now mushroom of Africa.
Abeg me I just need breakfast here
1431677766 Access
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by mrvitalis(m): 5:12pm On Aug 22, 2022
gaby:
The question should be, "how do the unemployed, poor, and hungry pay tax"?

From where?

There's a way to to about this but the dundees running amok to be called leaders are clueless.

Only people who have lived abroad, hustled legitimately, and allowed themselves to be properly integrated into the systems operated in these developed countries can truly effect a change in Nigeria and Africa as a continent by replicating the positives they've seen and experienced out there.

Until the Nigerian political space is made attractive and less disgusting as it presently is, those who can effect the change will keep minding their business from afar.
Everyone should pay from what they earn ...a conductor earns #3000 per say pays 750 as tax ..when they offer him #10,000 to vote a candidate he won't accept

Pay from what you earn and spend even if it's #5
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Nobody: 5:13pm On Aug 22, 2022
Okay, this report has a lot of issues and a lot of problems...

DISCLAIMER: I AM NOT DEFENDING BUHARI, OR ATTACKING GEJ OR PROMOTING TINUBU OR ATTACKING OBI......

1. 2.5m bpd , which is what we do at our best...is not enough for a nation of 200 million people. To start with, Saudi produces 10 million bpd..for a populaiton less than 40 million, UAE produces 2.6 m bpd...for less than 20 million people, and Qatar produces 1.1 m bpd for a population of less than 2 million people. Do the math.

Back in 2012, someone like SLS was saying that one Saudi citizen could get revenue from 3 barrels of oil per day...while for Nigeria it was 80 people, if not more...for one barrel.

2. For oil price, the important figure one should note is the fiscal breakeven. For Nigeria

In 2012 we needed oil to be at $122 per barrel to have enough cash to...balance the budget
In 2017 it went up to $ 139
In 2020...when this report came out...it was at $133.

Our oil prices were never as high as that level..in 2010, we were at $91, 2011,$ 108, 2012 $120 for a few months...2016 $30, and at 2019 $70, then 2020...we were below $30 per barrel for most of that year. Meanwhile we needed oil at $120-139 between 2012-2020.

3.Oil rich nations, above a certain level of the population, are not rich. Once your population is in the hundreds of millions...even if you are doing 20 million barrels per day, it won't be enough.

4.Nigeria's problem....is that we do not run a diversified economy. We run an economy based on selling raw materials, whose prices are not as high as we want them to be most of the time...which means we have to keep on taking loans to meet up with the resulting deficits. Deficits that are aggravated by massive spending on things like subsidy.

5.Does that mean corruption is not a problem.? No. Does that mean that Buhari can be excused because oil prices were not high under him? NO, NO, and NO. It means we must diversify our economy, remove subsides on petrol and power, and become an indiustrial nation...which Buhari has not done, neither has Tinubu, despite all the talk about how he developed lagos (Lagos did not become an industrial exporter under his rule at all, ala singapore.), Atiku or Obi...Obi talks a fine game about making Nigeria a producer....yet could not say clearly that subsidy has to go with no preconditions on Arise television last month....is talking about. It is why I have been dissapointed with our leaders since independence. They make the same old mistake every time....and we don't see it.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by mandax: 5:13pm On Aug 22, 2022
Racoon:
The discovery of crude oil(black gold) was a curse to the contraption called Nigeria.The NNPC have been a endless cesspool of unimaginable putrifying corruption
Because hardly any Nigerian truly regards Nigeria as his/her own permanent country.
The fierce struggle over who becomes president of Nigeria reigns because every ethnic group wants to take total control of the country's resources for the good of its ethnic group.

Muhammadu Buhari's tenure explains a lot about abuse of power for one's ethnicity interests.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by mrvitalis(m): 5:14pm On Aug 22, 2022
Onewazobia:
More 50% of citizenry don't end this amount per months, or do they pay taxes from nothing?
That's y it's average pay a percentage of what you earn 20% ...if u warn #1000 paying #200 from that won't kill you na or would it ?

If u pay #200 someone who earns one billion would pay 200 million and you both benefit same from government
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by bosstim(m): 5:14pm On Aug 22, 2022
Your level of stupidity needs to be studied.
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by uuzba(m): 5:14pm On Aug 22, 2022
catrinad:
Na God go help Nigeria
All the masters degree and PhD holders in this nigeria cannot refine Nigerian oil.
Oyibo has to refine it for us.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by mrvitalis(m): 5:15pm On Aug 22, 2022
chaseblack:
How can people who earn 30k pay 150k? you people are wicked o
They won't they should pay 6k ..let people who earn 1 billion pay 200 million by the time we average it it would reach #200k per person
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by gaby(m): 5:17pm On Aug 22, 2022
mrvitalis:
Everyone should pay from what they earn ...a conductor earns #3000 per say pays 750 as tax ..when they offer him #10,000 to vote a candidate he won't accept

Pay from what you earn and spend even if it's #5
Pay from what you earn and not a job or conducive environment the government has created for you abi, while they mop up and swallow the "pay from what you earn" as usual.

You don't attempt to remedy issues from the middle or head. You go to the roots and work it up.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Nobody: 5:17pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Lol...are they not bad already
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Iolo(m): 5:18pm On Aug 22, 2022
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
You’ve hit the nail in the head. We are too many for the revenue being generated by the government. I do think the fallacy of oil money means the average Nigerian think we are rich.

Even if we eradicate corruption 100%, Nigeria will not turn to Dubai until the government increases revenues significantly.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by winterfell007(m): 5:19pm On Aug 22, 2022
This is country is really something. Honestly speaking
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by frog12: 5:21pm On Aug 22, 2022
is that not good huh

babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by jojothaiv(m): 5:21pm On Aug 22, 2022
MasterKernel:
The nation doesn't have the features of a nation that will last for than 40 years from now.

The leaders are looting and dumping outside.
Nationals are running out of the nation.
70% Are living below poverty level.
No Power
High Poverty rate
Insurgency
High mortality
High Unemployment rate
High Crime Rate.

Please state one thing wey Nigeria dey do well?
It's unfortunate...

The 70 or let say the 75% masses are mere debaters, dogs that bark but hardly bite, we will continue with the dance of shame..
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by seunayantokun(m): 5:22pm On Aug 22, 2022
Take the 1999 constitution to the best country in the world, it will give you thieves and terrorists like Buhari.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Fadadmdobulu: 5:22pm On Aug 22, 2022
is Nigeria good before?
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Reference(m): 5:23pm On Aug 22, 2022
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
150K tax from a minimum wage of N30,000 ?.... oh Einstein how do you square this circle.
I tell you. An uninformed citizenry simply cannot develop its country.

Quick question. What comes first, the chicken of a wealthy citizenry or the egg of desirable taxation??
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by jojothaiv(m): 5:23pm On Aug 22, 2022
babasolution:
this report is very malicious its purely designed to make Africa and Nigerians look bad
Let see how it goes...
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Simeonjoe1: 5:23pm On Aug 22, 2022
mrvitalis:
Nigeria makes less than 25 billion dollars a year from oil .......for a country of 150 million that's nothing ...that should be Lagos revenue

Until every Nigerian pay average of 150,000 naira in tax its impossible to develop this country
Will they pay?
Nobody is willing to pay tax unless there's punishment for it.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by Nobody: 5:23pm On Aug 22, 2022
mandax:
Even the foreign power who created Nigeria and still holds the country one by force for its economic advantages, know that the country is no longer sustainable as one.

Nigeria's politicians know that the country is no longer sustainable as one.

Far north has adopted unconstitutional Islamic sharia criminal justice system, and set the stage for ISWAP and Boko Haram.
The southern nations forced into Nigeria are agitating for independence.
Nigeria is very sustainable economically

The reason why we are poor....and the reason why Biafra and Oodua plus Arewa would be poor, broke nations when they split...is not because of the whites, it is because we haven't learned that we can make phones cheaply at home rather than import them from China, or that in the long term it would be beneficial to our power and petroleum sector if we removed subsides and let them set their prices...which would bring in investment to enable them grow and power the manufacturing side of our economy.

And finally, it is because we think that if we sell oil, cocoa, cotton, groundnut, and palm oil and share the money, it would be enough....in a world where there are many countries that produce those things...and as a result, prices are never as high as we would want them to be (even in the USA, prices of cotton for export are too low to make it sustainable...so the USA government pays billions to cotton farmers in subsides to keep them from collapsing. African farmers with no access to the cash suffer more...plus the subsidies indirectly crash cotton prices more....). Meanwhile , instead of us to make things at home...we prefer importing them. And we sabotage our power sector by paying tarrifs that are too low...because we think we are helping the poor...when we are really shooting ourselves in the thigh.

Better face reality first, and maybe even Biafra would be feasible.
Re: Nigerian Oil And The Disappearing Money ( Aljazeera Report ) by mrvitalis(m): 5:24pm On Aug 22, 2022
gaby:
Pay from what you earn and not a job or conducive environment the government has created for you abi, while they mop up and swallow the "pay from what you earn" as usual.

You don't attempt to remedy issues from the middle or head. You go to the roots and work it up.
The effect of taxes is not just revenue ...tax would unify this country , reduce cooperation , people would begin to question public office holders

It's easier to steal money me and you were given that I don't really need ...but if me and u contribute 20% of our income ...bros u can't easily steal it ooh


Those people who get paid to vote don't they earn ? Some makes 200k ,100k 50k a month ...by the time bus driver earns 5000 a say pays #1000 a day in tax ....he won't allow anyone to use him to rig election

By the time Akara seller makes 3000 a day pays 600 a day ...you can no longer bribe her with 5000 to vote

We all would have a stake in Nigeria then if we pay tax because our hard earned money is involved

Then you would only vote people you can trust with your tax
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