₦airaland Forum

Expired Nigeria is not my business.

jaxxy:
Big cooperations are already running at high costs because of ur failed infrastructures, power system yet u want to tax them more? Are the big cooperations responsible for ur failed economy?? This incompetent and corrupt government borrowed and keeps borrowing recklessly for phantom projects and useless policies like feeding invinsible school children.

oil prices are up yet revenue is low cos if same corruption bt u want to further frustrated big cooperation cos of ur gross irresponsibility?

Correction. Nigeria is not a failed state and most definitely not the only nation that borrows, as a matter of fact all mighty US check them out. Part of Nigeria not profiting a lot is a result of low taxations. Oil prices maybe up but so is subsidy charges. It took more than a double decade for Dangote's refinery to even come into place. Why do you think so?. In actual reality, the average working Nigeria earns at least 400k per annum, which in approximation is 36k a month and it keeps rising. Unless people below the average minimum wage and allowances. The Nigerian power system runs at a high code just as Indian does. The only reason why you will keep complaining is your adept entitled reason for having to do less work for big money. It doesnt work that way. Nigeria hasnt attained the level of a developed state, its still a developing country. I will urge you to see how other African countries are doing before judging your own so hashly. Big corps needs to pay more tax. Guiness execs alone makes closes to a billion dollar every year and they don't pay much tax, high net worth individuals, its more reason some see need to hide thier wealth oversee, why because of the imperialist bodies backing them and with guns to our head in the name of loans. Understand how governance works, everything is not just as simple and easy as you think it is. If it were to be, all nation of this world will be living in a Utopia state.

Racoon:
How can you be using about 90% of your lean generated revenues to be servicing debts, borrowing to fund budget and allowing humongous institutional corruption to thrive uncontrollablly then say this shit?

With the unprecedented hardship they have inflicted upon the countless hapless and downtrodden masses in the nation, the impulsive solution to their debt accumulation is to continue to impose more taxes? Are these idiots well @ all?

This woman and buhari coupled with the other woman for humanitarian and social whatever, are the real destroyers of the economy, how can you borrow money and say you are using it to feed and distributing to people, instead of utilising it to build national wealth in order to ameliorate the suffering in the land in general.

To me for the past 7 years Nigeria don't have a president, or minister of finance, and most of the ministries created by buhari is just to embezzle the national wealth.

After they have stolen the country dry, now to osy back tax burden and austerity on the people is the next option of the heartless folks.

HighTableVoice:
Correction. Nigeria is not a failed state and most definitely not the only nation that borrows, as a matter of fact all mighty US check them out. Part of Nigeria not profiting a lot is a result of low taxations. Oil prices maybe up but so is subsidy charges. It took more than a double decade for Dangote's refinery to even come into place. Why do you think so?. In actual reality, the average working Nigeria earns at least 400k per annum, which in approximation is 36k a month and it keeps rising. Unless people below the average minimum wage and allowances. The Nigerian power system runs at a high code just as Indian does. The only reason why you will keep complaining is your adept entitled reason for having to do less work for big money. It doesnt work that way. Nigeria hasnt attained the level of a developed state, its still a developing country. I will urge you to see how other African countries are doing before judging your own so hashly. Big corps needs to pay more tax. Guiness execs alone makes closes to a billion dollar every year and they don't pay much tax, high net worth individuals, its more reason some see need to hide thier wealth oversee, why because of the imperialist bodies backing them and with guns to our head in the name of loans. Understand how governance works, everything is not just as simple and easy as you think it is. If it were to be, all nation of this world will be living in a Utopia state.

Seems u have no idea what is really going on in ur country. U compare US debts with Nigerias debts??

US borrows for the right reason abd has maximum accountability. Nigeria borrows for wrong reasons and yet has zero accountability. Do u understand the difference now?

As typical with 1 way thinking Apc they look fir the worst of the worst examples to back up their shameless practices. U have an epileptic power system for more than 20 years, production and manufacturing coys have all close shop or gone to neighbouring African countries to set up. U have one of the worst economies because of incompetence bt u ignored thst fact.

Oil prices are up bt ur oil is being stolen resulting in low revenue bt u ignored that fact. U now claim its low taxes that is making ur economy bad? Who told u high automatically taxes improves an economy? high taxes can also kill an economy.

Fix ur accountability systems or more taxes will backfire. Fix ur poor policies and business climate our nobody will want to do business with u unless they have no other option.

u cannot offer people nothing and say u want to tax them. Are u ok??

DrPurple:
The best way to reduce Nigeria's debt is by cutting (to the minimum level) the cost of running the government.

It's too expensive for a country in so much debt

Thank you
Thank you
Thank you

This was what I was expecting to read and not that rubbish of adding more taxes.

If they continue with this, I hope the French revolution that caused the French monarchy to be abolished won't happen.

This administration has the worstest set of ministers ever in the history of Nigeria.

How did this woman end up being a finance minister sef?

HighTableVoice:
Correction. Nigeria is not a failed state and most definitely not the only nation that borrows, as a matter of fact all mighty US check them out. Part of Nigeria not profiting a lot is a result of low taxations. Oil prices maybe up but so is subsidy charges. It took more than a double decade for Dangote's refinery to even come into place. Why do you think so?. In actual reality, the average working Nigeria earns at least 400k per annum, which in approximation is 36k a month and it keeps rising. Unless people below the average minimum wage and allowances. The Nigerian power system runs at a high code just as Indian does. The only reason why you will keep complaining is your adept entitled reason for having to do less work for big money. It doesnt work that way. Nigeria hasnt attained the level of a developed state, its still a developing country. I will urge you to see how other African countries are doing before judging your own so hashly. Big corps needs to pay more tax. Guiness execs alone makes closes to a billion dollar every year and they don't pay much tax, high net worth individuals, its more reason some see need to hide thier wealth oversee, why because of the imperialist bodies backing them and with guns to our head in the name of loans. Understand how governance works, everything is not just as simple and easy as you think it is. If it were to be, all nation of this world will be living in a Utopia state.

If it is not just as simple, where are our politicians seeing the money that they steal? Where do they get the money they use in sending their kids abroad? How did western nations put a gun to our heads or don't our have billions stashed abroad or you think the white man is a fool?

Only a revolution will save Nigeria

HighTableVoice:
Cutting cost of government is not much a brilliant idea. We haven't even started with defence budget yet in this country. You accumulate wealth by generating new ways and avenue. Reduction only put you 2 steps backwards and for the most a temporal solution and not a permanent one.

What kind of arm chair and unrealistic talk is this? You won't cut cost of government but you will increase taxes. Pls what is the productivity of govt? How efficient is the nigerian govt?

How does Reduction in cost of government only put you 2 steps backwards and how is it a temporal solution? How is increasing taxes a permanent solution?

According to you: "You accumulate wealth by generating new ways and avenue. "

What are the new ways? Is more taxes the new ways?

jaxxy:
Seems u have no idea what is really going on in ur country. U compare US debts with Nigerias debts??

US borrows for the right reason abd has maximum accountability. Nigeria borrows for wrong reasons and yet has zero accountability. Do u understand the difference now?

As typical with 1 way thinking Apc they look fir the worst of the worst examples to back up their shameless practices. U have an epileptic power system for more than 20 years, production and manufacturing coys have all close shop or gone to neighbouring African countries to set up. U have one of the worst economies because of incompetence bt u ignored thst fact.

Oil prices are up bt ur oil is being stolen resulting in low revenue bt u ignored that fact. U now claim its low taxes that is making ur economy bad? Who told u high automatically taxes improves an economy? high taxes can also kill an economy.

Fix ur accountability systems or more taxes will backfire. Fix ur poor policies and business climate our nobody will want to do business with u unless they have no other option.

u cannot after people nothing and say u want to tax them. Are u ok??

Be constructive with your statements that's first thing I will address. You have no idea who I am so there's no reason getting too personal and abusive. I love my country and want the best for it.

Nigeria as it stands today beats most African Nations arms down. If you can name me 10 African countries out of the 56 that its doing better than Nigeria in terms of GDP and economic development I will rest my case.

Now as a Nigerian to another Nigerian, I already stated understanding how governance works will make you see it more clearly and the fault lines that is making the progress slow. You talk about oil prices like its regulated in Nigeria and not even addressing subsidy. Do you think administration after administration striving to deal with subsidy is a joke? We have lobbied, improve policies, made deals to make oil revenues more usable to the Nigerian government and yet we still face the same old blocks. Barrels or guns, that's the term if you do not know. Oil theft is a only child's play, only a minimum portion of the whole operations. I will repeat, more taxes on this big corps means more revenue and helpful to the nation. Corruption you may think is the problem of Nigeria but that is not true, it is the imperial gun of the old world that's slowing down the program. Unless Nigeria or even Africa as a whole develops a well sounded defence system against the theft in our lands, the experiences will still be on going and only moving bit by bit.

You speak of accountability, Nigeria is well accounted for, as a matter of fact very very much accounted for not a single penny comes in or goes out with CBN knowledge, if you had said leniency I would have understand which again points back to my earlier statement on understanding how governance works.

aylagos:
Nobody wan die but them wan go heaven…..most them want to JAPA to a developed country to enjoy good life and good leadership where their citizens pay tax, meanwhile they hardly pay tax here as citizens.

Oga nor dey yarn annoying yarns again jor.
The citizens of those countries pay their taxes because they see the good things and development that their government is doing with it.

But Paying tax here is just a waste of money, because na the politicians go share the money within themselves.

The government should at least show us what they have been able to do with the money on their disposal, before talking about needing money for more and not all this nonsense we are seeing so.

Collection of more taxes? From Who? What about accounting for the moneys borrowed, what about reducing the cost of your exhorbitant governance? What about improving revenue generation?

Madam Finance minister, taxes are paid from revenue earned, where there are no means to earn income, there cant be taxes.

Reduce your cost of governance, tell your senators buddies to reduce their allowances by 60%, stop borrowing to subsidize yourselves.

Worst finance minister we ve had so far, how unfortunate.

Receive healing IJN.

If u want to reduce Nigeria's debt just arrest only 10 of our past and present politicians throw them into kuje prison with an average Nigerian prisoners I bet u in the next 30 minutes they will release a huge chunk of our stolen national treasury dat will be capable of repaying all the debt and more..criminals like tinubu,atiku,buhari,deziani,el rufai,obasanjo,hope uzodimma,orji uzor kalu,adamu(apc chairman),nyesom wike,obiano,el rufai,shettima,the current senate president and his house of assembly counterpart ,oyetola,amosun etc can pay off these debt easily

Racoon:
"....In the federal government’s fiscal performance report, the cost of servicing debt surpassed revenue by N310 billion in the first four months of 2022. The minister, however, maintained that the debt burden is not beyond what the government can handle.If you look at the ratio of the debt to the gross domestic product (GDP), I think the government is doing well..."

"The economy is doing well"? This is the effects of Buhari adopting and using Tinubu's bullion vans economic policy plan according to Kemi Adeosun.This is the legacy Tinubu said he will continue? God forbid!

Nigeria matter is complicated ... Am very sure its not easy there...

I'd peter obi becomes president and allow this woman to go scot free, I will swear for him

HighTableVoice:
Be constructive with your statements that's first thing I will address. You have no idea who I am so there's no reason getting too personal and abusive. I love my country and want the best for it.

Nigeria as it stands today beats most African Nations arms down. If you can name me 10 African countries out of the 56 that its doing better than Nigeria in terms of GDP and economic development I will rest my case.

Now as a Nigerian to another Nigerian, I already stated understanding how governance works will make you see it more clearly and the fault lines that is making the progress slow. You talk about oil prices like its regulated in Nigeria and not even addressing subsidy. Do you think administration after administration striving to deal with subsidy is a joke? We have lobbied, improve policies, made deals to make oil revenues more usable to the Nigerian government and yet we still face the same old blocks. Barrels or guns, that's the term if you do not know. Oil theft is a only child's play, only a minimum portion of the whole operations. I will repeat, more taxes on this big corps means more revenue and helpful to the nation. Corruption you may think is the problem of Nigeria but that is not true, it is the imperial gun of the old world that's slowing down the program. Unless Nigeria or even Africa as a whole develops a well sounded defence system against the theft in our lands, the experiences will still be on going and only moving bit by bit.

You speak of accountability, Nigeria is well accounted for, as a matter of fact very very much accounted for not a single penny comes in or goes out with CBN knowledge, if you had said leniency I would have understand which again points back to my earlier statement on understanding how governance works.

I think u are funny. U just said no penny is unaccounted for by Cbn?? Are u really talking about Nigeria or smwhere else?

And u still use the cheap excuse imperial old world slowing u down when u are fantastically corrupt bt living in denial and feeling like u are ontop of the world.

Ghana has no oil and is doing better than us untill maybe recently they are having issues, SA, Egypt and many others doing far better than us.

Same economy did much better under pdp with less taxes bt Apc who are only know how to take and give back white elephant projects feel taxing without value while enjoying grand corrupt is the way out.

I don't know u are and im not insulting u in any way and if I did I immediately apologise as that is not my person or how I handle arguments bt ur points are not factual and very far from reality of what is obtainable. I hope u are not living abroad and speaking on Nigerias issues cos I'm shocked by some of ur submissions.

CheapHomes1:
What kind arm chair and unrealistic talk is this? You won't cut cost of government but you will increase taxes. Pls what is the productivity of govt? How efficient is the nigerian govt?

How does Reduction in cost of government only put you 2 steps backwards and how is it a temporal solution? How is increasing taxes a permanent solution?

According to you: "You accumulate wealth by generating new ways and avenue. "

What are the new ways? Is more taxes the new ways?

Firstly, you do not grow through reduction but by accumulation. Which is why the govt also wants to impose tax on them to reduce their dependency on Nigeria's resources and citizens. There are over 50 companies in Nigeria that makes over a billion every fiscal year. Let alone their high net worth execs who pay less than 20% of their earning. In the US its 40%. UK even worse and theirs property tax that not even most people give a damn about. Some private universities in nigeria tuition fee is more than some institutions in Czech Republic and even some Asian countries. This institutions some are owned by religious leaders, and do not pay enough taxes even on the property itself and have over 1000 graduates every year. We need more revenue and a lot of people are not paying their fair share to the economy.

Just give her horns e don complete

Why does it look like every minister or whatever in Buhari’s cabinet is dumb?


Imposing taxes on the masses when they are not making enough is nothing but wickedness. As of today, no single soul in this country that doesn't pay tax directly or indirectly but they are imposing more on us only to be stolen again.

This woman has nothing upstairs other than certificates.

There are several ways to generate money but to them, tax is major, the rest are meant to be looted to service their exorbitant lifestyle.

She is not even emphasizing generating money outside taxation and cutting the cost of governance and ensuring that even the little project they did with so much money would generate the money needed to service the debts. We all know the a huge chunk of the money they borrowed was stolen. The cost of governance is very expensive we can't afford it.

Besides, all those Abacha loot. Where is the money? It can be used to service part of the debt but all stolen again

This woman is dumb

HighTableVoice:
Firstly, you do not grow through reduction but by accumulation. Which is why the govt also wants to impose tax on them to reduce their dependency on Nigeria's resources and citizens. There are over 50 companies in Nigeria that makes over a billion every fiscal year. Let alone their high net worth execs who pay less than 20% of their earning. In the US its 40%. UK even worse and theirs property tax that not even most people give a damn about. Some private universities in nigeria tuition fee is more than some institutions in Czech Republic and even some Asian countries. This institutions some are owned by religious leaders, and do not pay enough taxes even on the property itself and have over 1000 graduates every year. We need more revenue and a lot of people are not paying their fair share to the economy.

You haven't answered my questions.

Pls what is the productivity of govt? How efficient is the nigerian govt?

How does Reduction in cost of government only put you 2 steps backwards and how is it a temporal solution? How is increasing taxes a permanent solution?

According to you: "You accumulate wealth by generating new ways and avenue. "

What are the new ways? Is more taxes the new ways?

The Minister of finance statement is like marking an examination paper before taken the actual exams.

What sort of government policy borrows a lot of money first, then thinks about how to raise taxes and block leakages to pay it back.

The government should have raised taxes, block all leakages, slimline governance and cancel tax exemption for all big multi national companies before borrowing any money. At least be prudent first.

Her lectures sound as if she is not part of the problem. Very strange.......

So you increase tax to settle our humongous debt As for leakages, have your u addressed the padded budget ladened with corruption How will one budget 14 bullion naira for internet usage Thunder faya all of you.

aylagos:
Nobody wan die but them wan go heaven…..most them want to JAPA to a developed country to enjoy good life and good leadership where their citizens pay tax, meanwhile they hardly pay tax here as citizens.

See them typical APC zombies.

In those countries taxes are well accounted for and are used for development.

What has APCshit done with all the taxes oil revenues and loans they have been collecting?

noyeko:
Tinubu arrrived Nigeria from London last week, attended only APC campaign launch and Arewa Joint committee session, this morning dem don rush city boy go London again to top up. Make una no dey use Tiger battery for that man, use Duracell battery it lasts longer. God Abeg o �

Lol....I Don laugh tire

Borrow to finance a project, loot the borrowed money.

Raise taxes to service the loan.

Who pays the taxes, the common man.

Welcome to "Price Inflation 101"

All this college of education certified minister of finance.
Your time is up. Just do and go make people when get sense lead

ferhyntorlah:
Thank you
Thank you
Thank you

This was what I was expecting to read and not that rubbish of adding more taxes.

If they continue with this, I hope the French revolution that caused the French monarchy to be abolished won't happen.

This administration has the worstest set of ministers ever in the history of Nigeria.

How did this woman end up being a finance minister sef?

Nepotism appointment.