₦airaland Forum

JuanDeDios:
They're not "cruel". These policies have actually worked in Asian countries. Africa is a different matter because of low productivity.

Kukutente23:
Should their advice not be geared towards productivity then?

JuanDeDios:
That's what they're geared towards. In a way. We have a revenue crisis, which hamper's government's ability to provide electricity and roads - which are critical for productivity. Increasing taxation should also help curb importation (fewer Champaign bottles will be demanded if you tax the rich), tame inflation, and firm up the naira.

Paraman:
The government should widen the tax bracket instead of increasing tax. A lot of people are not paying tax in Nigeria

victory36:
worked in which Asian countries? Sri Lanka that is a shadow of itself thanks to IMF? Singapore and south Korea both have a reason why they banned IMF help. Even china hates the IMF more than it hates the US. It's only poor desperate countries that find themselves duped by IMF who then introduce unclear policies to keep them licking the boots of the western corporate giants. No reasonable country goes to IMF for funds that's why chinese loans seem more attractive

Kennitrust:
like your father

Angelfrost:
Who exactly do you intend to tax?!! What is their earning power?!! What is their current living standard?!!

Can you extract water from a stone?!

On what solid foundation do you want to extract taxes and raise revenue?!!

You don't put the cart before the horse.

You guys should learn to read and research before throwing theories about...! You have brains for that.

Paraman:
The government should widen the tax bracket instead of increasing tax. A lot of people are not paying tax in Nigeria

jacobs2015:
It's obvious the major sinister motive of all these western agencies is to impoverish, dehumaize and render Africans redundant, hopeless and helpless.

America's World Bank advised our govt to remove subsidy and like a magic, the economy would bounce back, knowing fully well that lack of funds was never due to subsidy payment, but just to make life harder for us.

Now the twin sister of World Bank is telling the FG again to increase taxation as if the consequence of subsidy removal was not enough, now encouraging the govt again to implement another hardship advice.

No international agency has the genuine progress of Africa at heart. All is smokescreen with stupid analysis to bamboozle us.

Kennitrust:
like your father

JuanDeDios:
Camdan. Scroll up. I already made this point in response to another poster. Yes, you can't tax the poor. We must raise productivity and empower our people first if we're to get anywhere to close to optimal taxation.

jacobs2015:
It's obvious the major sinister motive of all these western agencies is to impoverish, dehumaize and render Africans redundant, hopeless and helpless.

America's World Bank advised our govt to remove subsidy and like a magic, the economy would bounce back, knowing fully well that lack of funds was never due to subsidy payment, but just to make life harder for us.

Now the twin sister of World Bank is telling the FG again to increase taxation as if the consequence of subsidy removal was not enough, now encouraging the govt again to implement another hardship advice.

No international agency has the genuine progress of Africa at heart. All is smokescreen with stupid analysis to bamboozle us.

Angelfrost:
Who exactly do you intend to tax?!! What is their earning power?!! What is their current living standard?!!

Can you extract water from a stone?!

On what solid foundation do you want to extract taxes and raise revenue?!!

You don't put the cart before the horse.

You guys should learn to read and research before throwing theories about...! You have brains for that.

wirinet:
Meanwhile, IMF will not talk about the monumental corruption in all facets of government.
IMF is blind on the expenditure profile of government which spends 70% on recurrent and a miserly 30% on capital (half of which is stolen anyway)

IMF does not see bogus salaries and allowances of the politicians, its only subsidy and taxes of the poor they are obsessed with.

jacobs2015:
It's obvious the major sinister motive of all these western agencies is to impoverish, dehumaize and render Africans redundant, hopeless and helpless.

America's World Bank advised our govt to remove subsidy and like a magic, the economy would bounce back, knowing fully well that lack of funds was never due to subsidy payment, but just to make life harder for us.

Now the twin sister of World Bank is telling the FG again to increase taxation as if the consequence of subsidy removal was not enough, now encouraging the govt again to implement another hardship advice.

No international agency has the genuine progress of Africa at heart. All is smokescreen with stupid analysis to bamboozle us.

CodeTemplar:
Thank you for this response.
The inability to provide electricity is down to corruption and never lack of funds to. I have researched what power projects across the world go for and realize we are being raped and ripped by these heartless people in power.
At 5000MW, Dangote and few other industrialists like BUA may soon generate more than Nigeria does if thy don't already do.

Angelfrost:
Bro, I'm always calm... Me and you no get problem.

My problem is with IMF... They never tell these leaders the whole truth.

Nigeria needs to massively increase internal production, and cut down importation, as a matter of urgency... Infact, it has to become a compulsory national project.

But, this can't happen if you don't clear off Insecurity and Corruption.

When UK, Canada, and others massively tax income earners, no one really complains because the tax to income ratio is reasonable for those living simple and prudent lives... In addition, the revenue doesn't get stolen.

JuanDeDios:
I lived through Babangida's SAP and I saw what it did to me, my family and other families. I saw how it wiped out the middle class. So I'm against IMF loans and their conditionalities too (No, I don't have agree they failed everywhere, but that's for another day.). But the issue here is not loans - it's a specific IMF recommendation - increase taxes.

ogododo:
https://dailypost.ng/2023/10/14/imf-proposes-higher-taxes-as-solution-to-nigerias-fiscal-challenge/

Angelfrost:
Bro, I'm always calm... Me and you no get problem.

My problem is with IMF...

Nigeria needs to massively increase internal production, and cut down importation, as a matter of urgency... Infact, it has to become a compulsory national project.