₦airaland Forum

2016: The government introduced a N50 stamp duty on deposits exceeding N9,999.99, claiming it would boost revenue and improve public services. However, the reality was a decline in living standards for ordinary Nigerians.

2019: The government increased VAT from 5% to 7.5%, promising economic growth. The outcome was a further deterioration of the economy, leaving Nigerians worse off.

2022: The government blamed the proliferation of high-denomination Naira notes on corruption and banditry. The Naira redesign, they assured, would alleviate economic hardship. Instead, it led to widespread suffering and loss of life as Nigerians struggled to access their own money.

2023: The government advocated for fuel subsidy removal and Naira devaluation, reversing its previous stance. This policy shift triggered hyperinflation and the collapse of the middle class.

2024: The government is once again pushing a controversial tax reform, promising economic benefits. However, their history of broken promises and deceptive tactics should raise serious doubts.

To ensure transparency and public accountability, the government should postpone the tax reform bill for six months. This will allow Nigerians to independently analyze the proposed changes and form informed opinions, free from government propaganda. It is imperative to question the government's intentions and demand genuine solutions to Nigeria's economic challenges.

'Tonye Barcanista

Tinubu wasnt the President in 2016 and theres been a total cabinet change since then


The bill is straightforward enough and i wonder why people keep coming up with baseless hypothetical rhetoric beyond what is boldly written out for all to read and digest, just to paint the FG as bad and having ulterior motives


Empty articles everywhere

EmperorCaesar:


Tinubu wasnt the President in 2016 and theres been a total cabinet change since then


The bill is straightforward enough and i wonder why people keep coming up with baseless hypothetical rhetoric beyond what is boldly written out for all to read and digest, just to paint the FG as bad and having ulterior motives


Empty articles everywhere

Who was the president that removed subsidy on petrol and floating of Naira?

Secondly, have you read the bill?

An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school dropout will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

Opposition politics is not madness neither is it BLINDNESS.

For discerning minds this bill is a core implementation of the RESTRUCTURING tenet of RESOURCE CONTROL that we have been clamouring for.

That bill will be passed and Nigeria's economy will be better off whether you like it or not.

#RestructureNigeria

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

Have you read the bill or you only had opinion based on opinion of government promoters and agents?

This is a senseless thread. How does the timeline of 2016-2023 a direct reflection of Tinubu's Administration?

TonyeBarcanista:
Who was the president that removed subsidy on petrol and floating of Naira?

Secondly, have you read the bill?

Bearing in mind that 97% of revenue was used for debt servicing and we were also borrowing to pay for subsidy.
As an MD of an organization, if you met a net revenue deficits with high debt ratio on your company's balance sheet, what would you do?.

Another watery one.

J

If this tax reform sail through, the masses should brace up for more suffering. Tinubu has nothing good for the country. Instead for him to find solution to the problems he has created, he is planning to suffocate the masses more.

Trust them at ur own peril

Hmmm…

Alphabeta sharpening their knives.

They must pass that bill

TonyeBarcanista:
2016: The government introduced a N50 stamp duty on deposits exceeding N9,999.99, claiming it would boost revenue and improve public services. However, the reality was a decline in living standards for ordinary Nigerians.

2019: The government increased VAT from 5% to 7.5%, promising economic growth. The outcome was a further deterioration of the economy, leaving Nigerians worse off.

2022: The government blamed the proliferation of high-denomination Naira notes on corruption and banditry. The Naira redesign, they assured, would alleviate economic hardship. Instead, it led to widespread suffering and loss of life as Nigerians struggled to access their own money.

2023: The government advocated for fuel subsidy removal and Naira devaluation, reversing its previous stance. This policy shift triggered hyperinflation and the collapse of the middle class.

2024: The government is once again pushing a controversial tax reform, promising economic benefits. However, their history of broken promises and deceptive tactics should raise serious doubts.

To ensure transparency and public accountability, the government should postpone the tax reform bill for six months. This will allow Nigerians to independently analyze the proposed changes and form informed opinions, free from government propaganda. It is imperative to question the government's intentions and demand genuine solutions to Nigeria's economic challenges.

'Tonye Barcanista

I believe you have been paid to write this. Lol.

You are requesting six months to postpone what all hardworking Nigerians have been praying for since the beginning of democracy so that you can manipulate everything again for your own benefit. Lol.

1. What accountability do you want to give to someone earning N70,000 to N100,000 who does not pay income tax? Do you need six months to put this in place? You're wicked.


2. Do you need six months to ensure that oil-producing areas receive more revenue in proportion to their contribution to the national revenue? You are wicked.

3. Do you need another six months to develop a fair and equal reward based on what you give, rather than the many we receive even when we do not work hard? You are wicked.


You are a major enemy of the poor and the average Nigerian. And you have failed. You believe you can still manipulate poor Nigerians. Take a look at how many people have supported Tinubu, whom they despised.

We may dislike Tinubu, but we will never succumb to your manipulative tactics. This is a done deal. We are passing these bills. Guess what? Following this, we will immediately seek more resources control. Be ready to hug a near by transformer cos we are ready for you. Prepare for real debate and political struggle. We are ready to educate everyone and liberate them from your wickedness.

Bayelsa has supported these bills, and Ohaneze has also taken the right path. Time is up for you and Atiku, whom you have been supporting. Lol.

We are moving forward. Nigeria is moving forward. These bills are done deals. You would better face reality now.

No be same APC 🤣🤣🤣

Warrior99:
Opposition politics is not madness neither is it BLINDNESS.

For discerning minds this bill is a core implementation of the RESTRUCTURING tenet of RESOURCE CONTROL that we have been clamouring for.

That bill will be passed and Nigeria's economy will be better off whether you like it or not.

#RestructureNigeria

Exactly 💯 many didn't like the policies all in the name of it's APC or Tinubu in power but we have been shouting we want restructure tht we need regional government and resource control so this is an intelligent way Tinubu did it without using the word RESTRUCTURE 🤝
What a great move to make regions develop what they have and known for a particular resource ..

TonyeBarcanista:
'Tonye Barcanista

By now you are supposed to have been receiving million like VDM, but ur own opposition, keep pushing you backward and far, far away from how human beings thinking rationally.

Whose rhetorics should we trust?

You, the economic illiterate?

TonyeBarcanista you don pass this level ooo.

If na Atiku talk like this, we no go reason am cos na Old Man but You... No ooo.

Abeg, leave us make we dey rearrange for everybody to bear him papa name.

EmperorCaesar:


Tinubu wasnt the President in 2016 and theres been a total cabinet change since then


The bill is straightforward enough and i wonder why people keep coming up with baseless hypothetical rhetoric beyond what is boldly written out for all to read and digest, just to paint the FG as bad and having ulterior motives


Empty articles everywhere

APC is APC. By the way, who removed subsidy

femisplash:
This is a senseless thread. How does the timeline of 2016-2023 a direct reflection of Tinubu's Administration?

Same APC government

This is highly disappointing. Critique the content of the bill as a learned soul. Significant number of people have read the bill and I encourage sound debate not political rhetorics.
This bill has been in the Senate for 3months (Since Sept 3). It's a shame if you haven't read it and you are asking it to be stepped down. What's the real problem?
You can do better!

ClearFlair:
APC is APC. By the way, who removed subsidy

Subsidy cannot be there forever instead we must make a u turn to try other means since we want Nigeria to be like america .

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..

Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.


Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

Is the Yoruba tax bill all about alcohol?

Tayorshd87:
Exactly 💯 many didn't like the policies all in the name of it's APC or Tinubu in power but we have been shouting we want restructure tht we need regional government and resource control so this is an intelligent way Tinubu did it without using the word RESTRUCTURE 🤝
What a great move to make regions develop what they have and known for a particular resource ..

There has not been any restructuring. It's still the same old structure, (except for the national anthem)

Who is this one?

TonyeBarcanista:
'Tonye Barcanista

Well said

Hmmmm

There is much commonsense here

Fix the nation before billing the people

Georgry:
An analyst of your calibre shouldn't stoop so low to this level , this is how a secondary school will argue a bill that is significant enough to alter the future of how business is conducted in the country, a bill that is going to alter the VAT sharing formula in such a way that henceforth if nobody can drink alcohol in your state then you will have zero revenue from the sales of alcohol in other state..
Infact, this legislation is capable of making the Northern governor lift the suspension of alcohol in the future because this will be a reality check for them.
Someone like you should be arguing and criticising the merit of the bills so that some of us who look up to you can learn more, everything is politics to you guys.

The bolded shows that you do not understand the bill. The derivation in terms of collection does not change. So a portion of the alcohol part will still go to the north. Most of you think the VAT aspect is to ensure that VAT is collected where it is consumed and remitted to the state that consumed it while that is not the case.
You are simply using your bias against the north
Meanwhile, if you accept VAT income to be reduced for the North, expect a corresponding increase in cost of food items

Lol