Kukutente23:

This shows that the fixation with oil revenue is misplaced. Non- oil revenue is what's keeping the govt running.
And we know the non- oil revenue consists more of different kinds of taxes.
Who said Nigerians don't pay tax?

Racoon:
Not good @ all.Too much overhead costs with excessive borrowing, embezzlements, budget padding corruption seriously ongoing. Balabloo-blu-bulava drug baron economics

Yankee101:
In short Tinubu is overspending

Alliswell248:


Read the content....and stop disgracing your education.
Was Tinubu your President in the first quarter of the year.

kenny714433:
That means if not for subsidy removal by now we would have been hit by recession.

Smithkafors:
Nawao…. Deep mess. Carry president give person wey no know anything about government.

Nothing is working. He go assemble the same group from previous government.

DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.

ivolt:

Nigerians pay taxes in Naira.
The government can also determine Naira in circulation by printing.
A significant portion of essential Nigeria goods are imported and requires Forex.
Even if oil revenue make up just 1% of government earnings, it will still carry disproportionate
economic power relative to non-oil revenue until the import and Forex crisis caused by indiscriminate
borrowing is solved.
If you dig deeper, some of the non-oil revenue is just a name dressing.
Taxes paid by government workers are also included, even though the
workers are paid with oil revenue or oil-backed debt.

A country gains wealth via manufactured goods & services or natural resources.
No magic can change these options.

Yankee101:


Maybe you didn’t know that all the major ministries where at one time or the other Tinubu’s nominees
If you separate Tinubu from buhari you’re the one disgracing your education
Fashola - works
Lai - information
Aregbe - internal affairs

Etc

kenny714433:
That means if not for subsidy removal by now we would have been hit by recession.

DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.

lionshare:


The numbers disagree with your assertion as we have one of the lowest tax to gdp rates in the world.

https://en.wikipedia.org/wiki/List_of_sovereign_states_by_tax_revenue_to_GDP_ratio

PS* Interesting to see that most of the countries are the bottom are natural resource-rich.

Cti28:

That is what the media says.
The truth is most of these tax does not get to the government coffers

Lastmankc:
Shut up,nah still the same thing.The same party,

DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.

BafanaBafana:
What are the expenditures?
New cars for government officials
Fueling and maintaining presidential convoy
Welfare for ministers
Welfare for senators
Renovation of houses of government officials
Travel allowance for government officials
Etc
Etc

Buccalcavity2:

How is $25bn diaspora remittance a revenue? Must you comment? Arh!!!

Some of you go just open mouth waah, dey talk nonsense. Oluwole economists . Na free oil money wey una "govno" dey go Abuja collect monthly I blame.

Kukutente23:

This shows that the fixation with oil revenue is misplaced. Non- oil revenue is what's keeping the govt running.
And we know the non- oil revenue consists more of different kinds of taxes.
Who said Nigerians don't pay tax?

Kukutente23:

Toh. Educate me how diaspora remittance is part of govt revenue, Prof.

bdon12:

I do...nigerians dont pay tax like others bliev me.

OGIBRA:
SIMPLY PUT...

Federal government spent 1.4trillon naira more than the amount them make from january to march, according to figures from CBN...

Nigeria, i hail thy ooo...

Islie:


https://punchng.com/fgs-three-month-expenditure-exceeds-revenue-by-n1-43tn-cbn-report/?amp

00FFT00:


Look, try to discuss at your level of competence. Do not jump into every discussion because data has become cheap.
Shey people who received these remittances from abroad spent them in Ghana?. When they pay hospital fees, tuition fees, buy at the markets, pay T-fare, buy gala and coke, how much VAT do you think they paid?. What is the definition of income in your mind?.

How much of that money do the manufacturing industries pay as taxes to the government?.

Do you even have any idea what a monthly remittance of over $2 billion is to today's Nigerian economy?. What was your national budget in 2021 and what percentage of that budget does $25 billion represent?.

Too many questions, I agree, but I'm trying to jumpstart your knucklehead. Some of you go just open mouth waah, dey talk nonsense. Oluwole economists . Na free oil money wey una "govno" dey go Abuja collect monthly I blame.

Nigeria can easily earn $100 billion a year in remittances from abroad if the government develops and exploits a carefully structured program to export our unemployed graduates trained under our subsidized tertiary education (mis)system.

Our population is exploding and so is the number of youths, both educated and uneducated, entering the workforce every year. In a non-producing country like Nigeria, what is the plan to avert a looming national youth unemployment disaster that will soon engulf this country?.

I do not get time today, chuck mouth for my matter another time wey I get a few minutes to spare make I educate you and your fellow ITK comrades.

Buccalcavity2:

Many words no substance. Brevity is the soul of wit.
VAT is FG revenue. How is diaspora remittance FG revenue is the question not how can it be turned to revenue. Empty skull!
The thread is about fiscal matters

00FFT00:


Sorry, my bad. I should've known not to respond to a compound idiot. Your academic education is a complete waste, if you received any, that is.

Smithkafors:
Nawao…. Deep mess. Carry president give person wey no know anything about government.

Nothing is working. He go assemble the same group from previous government.

Kukutente23:

I don't believe you.
Nigerians pay taxes

bdon12:

How mch tax do u pay for ur car?do u pay LGA tax where u live?
Abroad,d cost of tax n car insurance supersedes cost pf d car.
U pay council tax
N u pay more to d federal govt than we do here.

Kukutente23:

What is LGA tax? I pay tax for my car. It's called vehicle renewal and inspection tax. If I'm using a car for commercial purpose, I pay some other taxes on it.
That's a lie. The cost of car tax does not supersede its cost in the abroad.
And Nigerians pay tax of all forms.
You're obviously not a smart zombie

bdon12:

U hav not lived abroad. U are a local man obviously. Cost of insurance/tax on cars most times xceed total cost of purchase of car.e.g buy a car for £2000 n d paper work for u to use that car can be up to £3000 in uk.To acquire drivers licence alone wit test n all will cost over £3000
I hav travelled to over 15 countries mr ignorant n yet u tink m d zombie.stupid local ignorant man

DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.