₦airaland Forum

spiSeyi:
And how well have they managed the 30% he who is faithful in little will be faithful in many

How does Nigeria spend its tax revenue?
An analysis of the federal government budget for
the past few years shows that tax revenue has
been essentially spent on debt financing and
recurrent expenditure significant amount of
which goes to salaries, travels and other
overheads.
Although the capital expenditure component in
the 2016 budget is said to be about 30% of the
budget, further analysis reveals that this is not
coming from tax revenue given that planned
borrowing in the budget (N2.2 trillion) exceeds
capital expenditure (N1.6 trillion).
Over one-third of federal government revenue (or
almost the entire non-oil revenue) will go into
debt servicing in 2016 notwithstanding that
Nigeria’s debt to GDP ratio is low (about 13%).
This is due to the high cost of borrowing and low
tax revenue indicating that there is really no room
for further borrowing. At states level, most are
barely able to pay salaries.

Antoeni:
The calculation is very easy to understand. That tells you its only 30% of Nigerians are working and living fine 💯

nairalanda1:
Not exactly. Those are Nigerians registered by the JTB. Which is a portion of those in formal employment.

Most Nigerians are in the informal sector. Many informal sector workers do 'eat fine' while many formally employed workers do not because salary too low. And vice versa.

The JTB does not register and tax many of the Nigerians in the informal sector. That is why at the end of the day, a lot of potential revenue goes uncollected. Unfortunately the informal sector is the majority of the Nigerian working class.

stasius:
Eeeh?

How many are minors and how many are adults?

Among the adults how many are within workforce age and how many are incapacitated and dependent?

Among the workforce age how many are employed/ working? How many are unemployed?

30% indeed!

The News Agency of Nigeria (NAN) reports that the total number of taxpayers in the country as of 2021 was 41 million. Mr Olarinde attributed these successes to the leadership of Mr Adedeji.

advanceDNA:
Informal sector pays tax ...don't let federal government deceive you....
Market woman pay taxes...if u have time ask them
Bike men pay daily...1300Naira per day
Small shop owners even located information front of their homes pay taxes...local governent collectors go to their shops to collect and give them receipt....

The amount of people on salary jobs are more than 30% and federal government collects PAYE taxes from salary....

There land use tax....which government charges on virtually all buildings weda u are making profit or not...residential or hotel

Everyone pays VAT indirectly when u purchase goods and services.....

No let federal government whine you....their mismanagement and embezzlement is the problem

BlackfireX:




This man just disgracing calabar people.



Natasha please give this man B..J or 1 minite quickie

CoronaVirusPro:
And those 70% that don’t pay are the ones who want Nigeria to surpass the UK.

They cannot pay in Nigeria but will run to another country to go pay same taxes.

sirray001:
you pay for what you get. In the UK, you are enjoying what you are paying for. In Nigeria, you don't see the social amenities not to talk of enjoying them. Many are jobless.

Antoeni:
https://punchng.com/only-30-of-nigerians-pay-tax-says-akpabio/

CoronaVirusPro:
You cannot determine how well it has been managed when ONLY 30% are paying. At least, we still have free education and healthcare.

CoronaVirusPro:
And those 70% that don’t pay are the ones who want Nigeria to surpass the UK.

They cannot pay in Nigeria but will run to another country to go pay same taxes.

wazobeer:
Majority of Nigerians are self-employed people who only depend on their daily work to eat. Most people don't work in the formal sector, so how would they be taxed?

You expect someone labouring to feed himself to pay taxes out of money that's not even enough for him to feed himself and his family... Come on.

Most of those who have access to go to UK are already paying taxes in Nigeria.

nairalanda1:
In the UK you pay half your earnings in income tax , then you pay things like council tax, which can be as high as 190 pounds a month.

Nigeria income tax is not up to half your salary. The equivalent of council tax in most Nigerian cities is non existent

No wonder you don't see amenites. Council is working in the UK. What is our council doing for us in Nigeria?

You get what you pay for.