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GloriousGbola:
some of us here barely mention or wives or pikins - for reasons.

_{maybe they have side chicks following them - i actually saw one popular dude whose wife created an account and announced it}

that leaves one wondering if they are married or not. you dont know if we know have one chick that we want to matchmake with you as a responsible, well put together guy

My old pal was the one that applied his strict puritan worldview on the thread, like a form of Internet Hisbah.

Most of us here were regulars at you know where, and are naturally soldiers of a particular struggle.

popizaino:
Was Emefiele trying to build a city or what? This man must have been trying to break Abacha stealing record.

Baba you believe this lamba,Yes he stole but to this much? Why dem never wele dem accountant general,Buhari,his cousin in charge of printing the new notes and Attorney General all together where all this happened under their nose....

emeifele was ready to run for president.

on his own steam. without any machinery in place

make of that what you will

_{hard to do if the info is not lifted from twitter}

Amigoss:
Baba you believe this lamba,Yes he stole but to this much? Why dem never wele dem accountant general,Buhari,his cousin in charge of printing the new notes and Attorney General all together where all this happened under their nose....

What's THIS MUCH about that stealing.

732 duplexes with a generous cost to build of N40m each is only N29 bln. That is only $17m today or about $39m in Meffys time

Meffy who burned through over $10bln a year in Forex exchanges for 10 years should easily be able to loot $200m to $1bln out of that alone, depending on his level of avarice.

Make una dey do small maths abeg. This is just the tip of the iceberg and would be a small fraction of what Meffy has stashed in Nigeria. The larger portion would be abroad.

semid4lyfe:
Best breakdown of the tax reform bill I've seen yet. Also explains the vociferous opposition from the North.

Confused about the New Tax Reforms?

Watch & listen to this.

RT FOR OTHERS. 🙏🏻 pic.twitter.com/6MBwSGGERR

— POOJA!!! (@PoojaMedia) December 1, 2024

Finally, Jagaban seems to be cooking a meal with a pleasant aroma.

Remains to be seen if he has the balls to push it through.

Punch even did a succinct job itemizing the key points of the Tax Reform Bill. https://punchng.com/five-takeaways-from-tax-reform-bills/

Anyone against it just hates the development of Nigeria.

Zero VAT on food imports and other essential commodities?
Scaling up VAT sharing formula from 20% to 60% to states?
What's there not to love about it?

Some issues should transcend partisan politics of APC, PDP, LP et al. What is good is good.

Ibime:
What's THIS MUCH about that stealing.

732 duplexes with a generous cost to build of N40m each is only N29 bln. That is only $17m today or about $39m in Meffys time

Meffy who burned through over $10bln a year in Forex exchanges for 10 years should easily be able to loot $200m to $1bln out of that alone, depending on his level of avarice.

Make una dey do small maths abeg. This is just the tip of the iceberg and would be a small fraction of what Meffy has stashed in Nigeria. The larger portion would be abroad.

Oshey Agba Accountant,you na still quantity surveyor and architect too wey don quick cost the 732 duplexes and arrive at 40m naira each now now?

One time,una go tell us say mathematically speaking naija is a broke country and can't afford some things and subsidies,another time una dey post ridiculous figures wey one person out of million office holders,civil servants and politicians steal.....Make una stand straight with Una agenda abeg

https://x.com/ESPNUK/status/1863878510583976358

DissTroy:
External Debts of Nigerian States from the Debt Management Office as at June 2024:

https://www.dmo.gov.ng/debt-profile/sub-national-debts/4970-states-fct-and-federal-government-s-external-debt-stock-as-at-june-30-2024/file . The amounts are in USD!

Some states like Niger which I analogized are borrowing directly from China and India. Why? To fund bogus projects.

---------

Then add the above to this: Internal Debt of Nigerian States - https://www.dmo.gov.ng/debt-profile/sub-national-debts/4969-states-and-fct-domestic-debt-stock-as-at-june-30-2024/file .

And some Vanity featherbrained mongrel right on this thread defended a state government with no viable plan for repayment borrowing #60 billion between March and June 2024.
There's something innately wrong with us as Nigerians.

Punch Newspaper eventually did a piece on the issues I've been harping since forever, and even more so last week. https://punchng.com/higher-allocations-higher-states-debts/

Higher allocations mean little even as the Tax Reform Bill would add more to the vaults (vaults since only the government has access to it and the full numbers) of state governments when these revenues are not properly managed.

It's odd and piquing that states like Akwa Ibom, Delta, Rivers, and Lagos which have the highest revenues from the FAAC, IGR, and other sources have the some of the highest domestic and external debts ever.

More allocation means nothing until more accountability and proper management take center stage.

Amigoss:
Oshey Agba Accountant,you na still quantity surveyor and architect too wey don quick cost the 732 duplexes and arrive at 40m naira each now now?

One time,una go tell us say mathematically speaking naija is a broke country and can't afford some things,another time una dey post ridiculous figures wey one person out of million office holders and politicians steal.....Make una stand straight with Una agenda abeg

Wetin you dey yarn? How much do you think it cost to build Duplex in Meffy time, talkless of the economies of scale.

I dey one place, few billions being looted does not make a country rich, Naija is said to have circa $40bln reserves and we still broke

There is a reason Meffys tenure saw the rise of dollar billionaires and near-dollar billionaires from the banking sector (Wigwe, AIG, Elumelu etc). The arbitrage opportunities were too much with the variance in exchange rates. Those guys became billionaires from round-tripping, and you think their former colleague Meffy who now sits at the APEX signing off all exchanges will carry last? If Meffy takes just 1% to allow you to exchange Naira at 400 official rate rather than 750 market rate, how much do you think he will make if close to $100bln flows through his approval over 10 years. Dey play.

🇷🇺 PUTIN'S SEX ED: SPERM CELLS DON'T NEED GPS

When someone said sperm cells don't know where they're going, Putin had to chime in with this:

"You know, whether they know or don't know, they swim where they should go. That's the most important thing."

Source: Smotri Media pic.twitter.com/ZFH5pbDRHX

— Mario Nawfal (@MarioNawfal) December 2, 2024

i find it wierd that some people hate this man

Buhari had in a letter to the National Assembly in January 2023 requested that the N22.7 trillion Ways and Means loan be converted to a 40-year bond with a moratorium of three years.

Following the request, the House of Representatives on May 4, 2023, approved the conversion of the N23.7trn loan to a long-term bond for 40 years at the rate of nine per cent per annum.

Analysts have consistently alleged that former President Buhari abused the ways and means advances and allegedly violated the CBN Act.

Section 38 (2) of the CBN Act makes it clear that “the total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of the federal government.”

However, the administration overshot the five per cent ceiling and grew ways and means from N856 billion to N23.8 trillion, representing 2,635 per cent in seven years

https://dailytrust.com/how-50bn-equivalent-was-printed-and-fritted-in-ways-and-means/

It irks me that we have Nigerians today who play the ostrich trying to act like Emefiele did all these things in isolation. Emefiele practically printed 23 trillion naira illegally with the blessing of Mohammadu Buhari.

When people in the opposition and well-meaning Nigerians were raising alarm back then, Femi Adesina and hoardes of APC unofficial spokespersons called them wailing wailers. Today we are all acting surprised like we didn't know Emefiele must have stolen more.

If Nigeria was a fair and just country, Buhari should be sharing prison cell with Emefiele. The useless House of assembly that kept approving without asking the right questions are also complicit.

Amigoss:
Oshey Agba Accountant,you na still quantity surveyor and architect too wey don quick cost the 732 duplexes and arrive at 40m naira each now now?

One time,una go tell us say mathematically speaking naija is a broke country and can't afford some things and subsidies,another time una dey post ridiculous figures wey one person out of million office holders,civil servants and politicians steal.....Make una stand straight with Una agenda abeg

its been long ibime did some building...building avery good duplex will cost in the region of 60m

Shegsdave
Wizkid have start his trouble again, who is he calling owerri Rick Ross this time

chidekings:
its been long ibime did some building...building avery good duplex will cost in the region of 60m

The estate was not built today.

It was built between 2016 and 2023 when meffy was in office. What was the price of a bag of cement at the time? What was a dollar at the time? How much was cable? Lighting fittings?

The estate was obviously built by a large contractor, which means economies of scale (bulk purchase of materials)

One contractor building an estate of 700 buildings is cheaper than 70 contractors building 10 buildings or 700 contractors building one building each.

Also the fact that the contractor was working for meffy likely meant upfront payments which would speed up the project and reduce cost. When you are the CBN governor, cash is not your issue.

The more cash you have the cheaper everything is. You can buy upfront at discount.

chidekings:
its been long ibime did some building...building avery good duplex will cost in the region of 60m

Today or 3 years ago?

Building 732 duplex will bring unit cost down to 50m today,

2 years ago, those duplex will be built for 30m. I was just being generous with that 40m figure.

This new tax bill seems insane to me.

Where is FG getting money to fund these huge tax cuts?

Is this a way for Government to further reduce the scope of its social contract with Nigerians? We dont tax you so don't disturb us?

For me, it is another clear sign that the country is taking it's last few breaths, when FG indicates that the majority of you earn too little to be taxable.

Robert Baratheon - give me something for the pain and let me die.

nihilistjnr:
This new tax bill seems insane to me.

Where is FG getting money to fund these huge tax cuts?

Is this a way for Government to further reduce the scope of its social contract with Nigerians? We dont tax you so don't disturb us?

For me, it is another clear sign that the country is taking it's last few breaths, when FG indicates that the majority of you earn too little to be taxable.

Robert Baratheon - give me something for the pain and let me die.

[color=royalblue]You are mad, sire[/color]

pocohantas:
I got my laptop powerbank in 2022 for 70 or 80k and that lady hasn't gotten same product restocked in a while. Though a month ago she told me she has another laptop powerbank. If he checks on Jumia, he would see powerstations by Ecoflow and Oraimo. That is the one I want to get, as the current powerbank (though portable), came with preselected ports and none matches my laptop.

Sister, i recommend you give our Laptop Powerbank a try. I promised you won't be disappointed.

nihilistjnr:
This new tax bill seems insane to me.

Where is FG getting money to fund these huge tax cuts?

Is this a way for Government to further reduce the scope of its social contract with Nigerians? We dont tax you so don't disturb us?

For me, it is another clear sign that the country is taking it's last few breaths, when FG indicates that the majority of you earn too little to be taxable.

Robert Baratheon - give me something for the pain and let me die.

I've not read the tax bill but the feelers I've been getting is that government intends to tax middle class & upper class more while those who earn too little won't be taxed.

Maybe it's just a way of saying the poor have not really been paying tax, so why not just make it official that they are exempted from tax?

If they are saying anybody earning less than 1m won't be taxed, it means they are saying only people who earn above minimum wage will pay tax. Minimum wage is N70k per month and that gives N840k per annum. Most people don't live on less than 85k per month and 85k per month is already N1.02m already which means they will surely pay tax.

From where I stand sef, more people will be dragged into the tax net with this new tax bill. The government may earn more tax sef

popizaino:
I heard your darling governor Makinde is against the tax reform bill. How can he be so selfish given he was also against LG autonomy?

Makinde is an idiiot. When his media vuvuzelas were drumming him up as presidential material I just laugh

The President of the UAE has directed to perform Salat Al-Istisqa (Prayer for Rain) on the morning of next Saturday across all mosques in the country at 11:00 AM.

CooldipoMPS:
Sister, i recommend you give our Laptop Powerbank a try. I promised you won't be disappointed.

I can recommend this MF. Used his products when i still had need of it in the country.

BlueRayDick:
I've not read the tax bill but the feelers I've been getting is that government intends to tax middle class & upper class more while those who earn too little won't be taxed.

Maybe it's just a way of saying the poor have not really been paying tax, so why not just make it official that they are exempted from tax?

If they are saying anybody earning less than 1m won't be taxed, it means they are saying only people who earn above minimum wage will pay tax. Minimum wage is N70k per month and that gives N840k per annum. Most people don't live on less than 85k per month and 85k per month is already N1.02m already which means they will surely pay tax.

From where I stand sef, more people will be dragged into the tax net with this new tax bill. The government may earn more tax sef

1m per annum?

A lot of people are gonna be taxed if thats the case.

Emaprince:
1m per annum?

A lot of people are gonna be taxed if thats the case.

Exactly! Once u earn around N84,000 as gross per month, u will surely pay tax. Most employed people will fall into thia category.


But when they say people who earn less than N1m per annum will be exempted from tax, most people think they are talking about one huge sum of money

iamoyindamola:
Shegsdave
Wizkid have start his trouble again, who is he calling owerri Rick Ross this time

The small man always have issues I think it’s Cubana chief priest, cause he was defending davido that he makes music for fun

It’s a ‘z’ in the shegz

raumdeuter:
Makinde is an idiiot. When his media vuvuzelas were drumming him up as presidential material I just laugh

Best performing governor in the South West but his presidential ambition is dead on arrival cos Jagaban is doing 4 + 4.

Still, I agree with you his opposition to the TRB is illogical.

Feelers I'm getting is that he's heading to the senate when his tenure ends.

Amoto94:
The President of the UAE has directed to perform Salat Al-Istisqa (Prayer for Rain) on the morning of next Saturday across all mosques in the country at 11:00 AM.

No be UAE wey overseed their clouds few months ago causing flood? So now dem get drought?

Shegzdave:
The small man always have issues I think it’s Cubana chief priest, cause he was defending davido that he makes music for fun

It’s a ‘z’ in the shegz

Got it
Yeah I figured it was chief priest, fear short people

raumdeuter:
Makinde is an idiiot. When his media vuvuzelas were drumming him up as presidential material I just laugh

I think he was the biggest loser from that G5 nonsense...the G5 thing hampered what should have made him a solid VP or even presidential pick within the PDP and has made him neither here nor there as regards his political ideology.

BlueRayDick:
Exactly! Once u earn around N84,000 as gross per month, u will surely pay tax. Most employed people will fall into thia category.


But when they say people who earn less than N1m per annum will be exempted from tax, most people think they are talking about one huge sum of money

That 1m figure looks like a big figure to people, some forgot to calculate their gross income per annum

iamoyindamola:
Got it
Yeah I figured it was chief priest, fear short people