₦airaland Forum

Mkenya2019:
You wish..if we use the real exchange rate..its 20 trillion naira

Lol..Too much Igbo.

Your revenue is 2 trillion Shilling, which is around 14 billion dollars.

Nigeria..just federal alone is doing around 20 billion dollars, if we add the state, that will be around 27-28 billion.

Shaytun:
I’ve done some work with LIRS, trust me those guys are good.

They are far better than FIRS, they have upgraded their tax collection system like 3-4 times in the past decade.

LIRS new Tax system is very robust, they have plugged a lot of leakages in their system.

If you compare to other states and even FIRS, they are still using Pay-Direct and Remitta for Tax payment, Tax is calculated by Tax agents who have been bribed by the company to lower payment.

If you go to Ogun IRS, the corruption is so stifling and widespread the workers there have grown fat on corrupt kickbacks.

Lagos since Tinubu's time has been vigorous about tax collection. LIRS is very active and that's why Lagos can actually do a lot even without federal government allocation. This is something I believe can be extended to the national level. I see no reason why Nigeria can not do at least 10% revenue to GDP by 2024 if we put the right person in office this year and people are ready to swallow a few bitter pills.

Shaytun:
Lol..Too much Igbo.

Your revenue is 2 trillion Shilling, which is around 14 billion dollars.

Nigeria..just federal alone is doing around 20 billion dollars, if we add the state, that will be around 27-28 billion.

He is saying Nonsense.

Shaytun:
Lol..Too much Igbo.

Your revenue is 2 trillion Shilling, which is around 14 billion dollars.

Nigeria..just federal alone is doing around 20 billion dollars, if we add the state, that will be around 27-28 billion.

In the Jonathan era, Nigeria made way more than this in dollars term, even in the Obasanjo era. Revenues have been much lower in the last decade and it's now we are doing more to look into the non oil sectors as major sources of the budget.

Shaytun:
And our Tax system is so lenient, it barely exist.

FIRS only colllect Tax from corporations not individuals.

Many rich Nigerians do not pay any Tax at all, they only pay PAYE to their state government every year.

If we can do away with oil susbsidy, increase our Tax net. I don’t see the reason why we are not doing 90 billion in revenue.

of course..it shame to have such a small tax base

Shaytun:
Lol..Too much Igbo.

Your revenue is 2 trillion Shilling, which is around 14 billion dollars.

Nigeria..just federal alone is doing around 20 billion dollars, if we add the state, that will be around 27-28 billion.

Typical Nigerian madness .Kenya gearing to get 2.6 trillion for 2022...3 trillion this year ..which using artificial naira is to close 10 trillion naira..Real exchange rate is 20 trillion naira. DONT THINK EVERYONE WENT TO BED AND SLEPT

Kenya fiscal consolidation paying off as debt to gdp drops to 62 percent...with aggressive push to digitise all gov services..balanced budget could happen next definitely https://www.businessdailyafrica.com/bd/economy/kenya-s-public-debt-growth-pace-slowest-in-four-years--4075864

Obaaderemi2:
He is right now combing through the internet to see what he can use next. Instead of him to worry about Kenya drowning in debt.

Don't bury your head in the sand. You should cherish facts no matter how inconvenient they are, Obaboon.

GeneralDae:
In the Jonathan era, Nigeria made way more than this in dollars term, even in the Obasanjo era. Revenues have been much lower in the last decade and it's now we are doing more to look into the non oil sectors as major sources of the budget.

We were doing 64 billion dollar budget during obasanjo Era. But of course then it was an undiversified budget.

98% financed from oil revenue, that’s why we inherit the behavior of benchmarking the budget with oil price, even when revenue from non-oil is surpassing that of oil revenue.

It also led to the PDP government shying away from Taxation, they were still scared of a disgruntled middle-class which will result in coups, they grew comfortable with just earning fat oil money and that’s where the misconception that Nigeria is a rich country (the phrase our oyel money) came from.

if not for obasanjo withholding federal allocation to Lagos because of his rift with Tinubu.

Lagos wouldn’t have discovered an alternate route to generating IGR through Taxes, it was a blessing in disguise for Lagos state.

Mkenya2019:
You wish..if we use the real exchange rate..its 20 trillion naira

The exchange rate is #440. That's the official rate.

Mkenya2019:
Kenya fiscal consolidation paying off as debt to gdp drops to 62 percent...with aggressive push to digitise all gov services..balanced budget could happen next definitely https://www.businessdailyafrica.com/bd/economy/kenya-s-public-debt-growth-pace-slowest-in-four-years--4075864

Your debt growth slowed down because you already hit a ceiling and lenders are afraid to give you more loans.

Obaaderemi2:
The exchange rate is #440. That's the official rate.

That guy is a weirdo, why will we use the black market rate to calculate the budget?

Will government source it FX from the black market?

Obaaderemi2:
Your debt growth slowed down because you already hit a ceiling and lenders are afraid to give you more loans.

It came at right time so gov can think of ways to grow revenue...we were in bad place when we got beyond 60 percent..Ruto is now focused on growing revenue to 30b dollars in a year..doubling that to 60 billion in 5yrs..

Shaytun:
That guy is a weirdo, why will we use the black market rate to calculate the budget?

Will government source it FX from the black market?

I used the official rate which doesn't reflect real weakness of naira..you're cheating yourselves instead of like Kenya freely floating naira and having one uniform rate...not rate for the rich dangotes...while rest of you go to backstreet for dollars. A ZOO

Shaytun:
That guy is a weirdo, why will we use the black market rate to calculate the budget?

Will government source it FX from the black market?

The black market rate is the realistic figure, it doesn't exist to compliment the official fake rates.

Kaduna- Northern Nigeria
Indeed, No state in Nigeria has done what this present state governor has done, yet driving through New Kaduna roads kills depression.
Kaduna is currently one of the very few states that can survive without assistance from the federal government.

The largest steel mill factory in Africa is been built in Kaduna, the state that produced the 4th IGR in Nigeria.
Over 32 highways have been dualized, as well as bridges and flyovers, by the state.
1- The Kaduna Private Steel Plant project: .5 million metric tonnes of steel annually from the abundant supply of iron ore; not too far off. Over 3,000 would be employed at the mines and factory.
2- 4 Murtala Mohammed square Kaduna - one of the largest and most developed sporting facilities in Africa (All sports are available here)
Old drone shots of Murtala Mohammad square

https://www.youtube.com/watch?v=X8QUWSUg7xg

Mkenya2019:
I used the official rate which doesn't reflect real weakness of naira..you're cheating yourselves instead of like Kenya freely floating naira and having one uniform rate...not rate for the rich dangotes...while rest of you go to backstreet for dollars. A ZOO

Mumu..who go to backstreet for dollars?

You can access the FX you need from the bank.

gallivant:
The black market rate is the realistic figure, it doesn't exist to compliment the official fake rates.

Only people that are trading the CBN banned items access dollar from the black market.

Why should the government support your illegality?

Shaytun:
Mumu..who go to backstreet for dollars?

You can access the FX you need from the bank.

Why then does backstreet exist and why do they ask twice the naira.we have read tears of how you apply for forex then wait for two months from you bank..it like applying for a job in gov..in Kenya you walk in walk out.Dont think we don't know these things...we have been on your case since 2016.In 2015 I had interview with aNigerian..we had drink and he told me troubles he took to get dollars to fly to Kenya .For Kenya these stories that ended in 1993.Those stupid forex controls exist in Ethiopia..in Kenya kshs float freely..there is no forex control..only basic question to weed out fraud and money launders

Shaytun:
Only people that are trading the CBN banned items access dollar from the black market.

Why should the government support your illegality?

I didn't create the illegality I just pointed it out. You can't have parallel economies in a country. One must be a paper economy, the official government one that is.

Mkenya2019:
Kenya didn't default on Chinese debt. Secondly check the latest information on who is distressed Nigeria is new star after Ghana went belly up.Now this 2023 you've decided to throw ⚠ and will jack debt to upto 170 billion dollars. DEFINITELY YOURE GOING BANKRUPT. Ruto is a genius...don't even waste your time on Kenya.. its finally on the right footing.Youll see revenue this year growing to 30 billion dollars as we are digitising everything..5,000 gov services..all gov payments. VAT alone will improve by 90 percent

.

Subsaharan:
.

You must have really waited for long to use this picture. Kenyans trusted Ruto because they know his intellect, his workrate and his leadership. Kenya is firmly on right footing.Kibaki was great but he was too old.Ruto is the70- 80s kibaki in intelligence and even more in leadership. The country can go to bed knowing the best of the best is steering the ship..not a drunken sailor. There are three things that you should look for employees..First is natural high IQ..second is hardwork/work ethic..those two are absolutelycritical.. bonus is leadership.Kenya finally nailed it. kibaki IQ was off charts- shattered academic records all his life- but he was lazy and reluctant leader.But his high IQ was redeeming compared to an idiotic Moi or average Uhuru .Dr Ruto is incredibly brilliant, workhorse that arrive in his office 5am and leaves midnight, and is natural leader in the room

GeneralDae:
In the Jonathan era, Nigeria made way more than this in dollars term, even in the Obasanjo era. Revenues have been much lower in the last decade and it's now we are doing more to look into the non oil sectors as major sources of the budget.

I'm very bullish about Nigeria's fiscal situation. Oil production has stabilized in is billed to increase to 1.8mb/d by Q2

https://nairametrics.com/2022/12/16/why-fuel-imports-to-nigeria-will-reduce-by-2023-oil-production-to-hit-1-6-million-bpd-by-2023-finance-minister/

Nigeria was the largest production contributor to OPEC in Q4 '22

https://punchng.com/nigerias-oil-production-climbs-to-1-6m-barrels/

The FOREX market would stabilize as white product importation would be eliminated this would have a great impact on inflation and energy availability.

and the subsidy on petrol would go away in H2 2023

https://www.world-energy.org/article/28577.html

great progress was made last year to curb crude oil theft and pipeline vandalism, and low hanging-fruit marginal oil field production could help to increase production to COVID levels(2mb/d).

I'm also enthusiastic about oil prices as China opens up again after their COVID lockdowns which seriously hampered oil demand, so the budget benchmark is very realistic.

Largest Rice Mill in Africa, 3rd largest in the world now completed

https://www.youtube.com/watch?v=SFWJwx-5eXY

Subsaharan:
I'm very bullish about Nigeria's fiscal situation. Oil production has stabilized in is billed to increase to 1.8mb/d by Q2

https://nairametrics.com/2022/12/16/why-fuel-imports-to-nigeria-will-reduce-by-2023-oil-production-to-hit-1-6-million-bpd-by-2023-finance-minister/

Nigeria was the largest production contributor to OPEC in Q4 '22

https://punchng.com/nigerias-oil-production-climbs-to-1-6m-barrels/

The FOREX market would stabilize as white product importation would be eliminated this would have a great impact on inflation and energy availability.

and the subsidy on petrol would go away in H2 2023

https://www.world-energy.org/article/28577.html

great progress was made last year to curb crude oil theft and pipeline vandalism, and low hanging-fruit marginal oil field production could help to increase production to COVID levels(2mb/d).

I'm also enthusiastic about oil prices as China opens up again after their COVID lockdowns which seriously hampered oil demand, so the budget benchmark is very realistic.

Until fuel subsidy is removed, naira is freely floated and electricity woes fixed..Nigeria is going nowhere.Buhari has kicked the can to next regime..to cut the fuel subsidy and get political flak. As of now Nigeria will continue generating poverty at industrial scale..now 130 million poor people

650,000B Largest single train Refinery in the world is now completed

https://www.youtube.com/watch?v=u2-h5UEJPFM

The $2.5b 4th Mainland Bridge - Longest Bridge in the African Continent Set for Construction.
features
The bridge is a 2 x 4 lane carriageway cross-sectional road with permission for BRT Lane and future road contraction. It is expected to become the longest Bridge in Africa, featuring 3 toll plazas, 9 interchanges, 4.5 km Lagoon Bridge and an eco-friendly environment amongst other added features.

https://www.youtube.com/watch?v=UYL5_VfK_vk

Nigeria is on steroids...the world's biggest fertilizer plant,

https://www.youtube.com/watch?v=FZ0kbEL87HM

68816419:
650,000B Largest single train Refinery in the world is now completed

https://www.youtube.com/watch?v=u2-h5UEJPFM

I don't think it's completed. Some few testings would have to be done.
Though they say it should be completed by March but I'll say let's set a target of June to September.

68816419:
Nigeria is on steroids...the world's biggest fertilizer plant,

https://www.youtube.com/watch?v=FZ0kbEL87HM

Dangote is not Nigeria. 130 million Nigerians live in absolute poverty yet Nigeria gas all it needs to make poverty history