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Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi - Politics (2) - Nairaland

Nairaland ForumNairaland GeneralPoliticsTax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi (8204 Views)

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Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by MIKOLOWISKA: 6:40am On Mar 03, 2025
Zionmdde:
Just sharrap there, opening your mouth is a huge disservice to Nigerians


Freedom of speech

What has the ordinary man on the streets gained from a government that claimed to have stopped paying subsidy?
Roads?
Electricity?
Improved security?
Asides suffer patiently they have been preaching, exactly what?

Did the ordinary man vote for roads or rice, be honest with your self


So when you venture into something, you wait for several years to know if it will work, see exactly the nonsense your brains are generating

If you plant bamboo or mango or iroko, will you get returns in a year?


So tinubu must stay 8 years like buhari before we can say his government is not people- friendly


Why not?
You were patient for 64yrs now 8yrs is suddenly too much
I no E Benevento add colonialism period that you didn't cough o

How many years did it take for Nigerians to see the light in Yaradua's government. Just 2 years and yet he will be said to be one of the best leaders

Mending the light you saw during Yar'Adua govt
I dare you

You won't
You will either stay silent or show lack of home training


Just sharrap abeg
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Ofodirinwa: 6:41am On Mar 03, 2025
...why do yoruba ppl like taxes so much?
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Love800(m): 6:50am On Mar 03, 2025
Natural resources and government programs/investments!!
helinues:
Emeritus, tell us what can grow economy if tax revenue can't?
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by anonimi: 7:01am On Mar 03, 2025
Dreal1247:
Tinubu the taxmaster
Do you mean TASK master, since he is using the extra tax burden to buy more luxuries for himself while dashing palliative bread and rice to the masses since he has no clue how to create promised jobs.

chisomkachy:
Nigerian President Bola Tinubu’s first supplementary budget includes a fleet of SUVs for himself and his wife, a presidential yacht and the renovation of his villa amid a cost-of-living crisis for some of the poorest people in the world.

The proposal — which seeks additional funding beyond the annual budget approved by Tinubu’s predecessor — comes as the government asks Nigerians to persevere through pain caused in part by a raft of economic reforms ushered in by the new president. Africa’s most populous country faces rampant unemployment, soaring food prices and a plummeting currency.

Federal lawmakers approved the president’s request for extra spending on Thursday, but eliminated the provision of 5 billion naira ($6.01 million) to buy a presidential yacht. Instead, they doubled the allocation to a student loan fund to 10 billion naira, according Abubakar Bichi, chairman of an appropriations committee in the House of Representatives.

The lawmakers approved 1.5 billion-naira proposed to purchase SUVs for the office of First Lady Oluremi Tinubu — an amount larger than that allocated to many individual federal colleges. The supplementary budget also proposes almost 6 billion naira to purchase SUVs for the presidency — more than the amount initially allocated to fund a student loan program for poor families.


https://www.bloomberg.com/news/articles/2023-11-02/nigeria-budgets-for-suvs-and-yachts-amid-economic-hardship
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Love800(m): 7:03am On Mar 03, 2025
Is nigeria own well utilize! This is the problem. If we see good stuffs that the government is using our tax to do, we will be the ones rushing to pay tax.

Another thing is that nigerian tax is disorderly. They should be tax volumes for every group of people in the society. You cant be taxing the poor the same way you tax the rich!

Another thing is non-transparency in the tax system. You will see different groups coming to tax you regularly. No originality. No credibility!

Another thing is purchasing power. Are nigerians rich to pay tax! Looking at the way some useless policies and crashing businesses, who will want to pay tax!
REDshouse:
.

Then what is Growing UK economy, why is nearly every Nigerian japa (ing) to UK ...

Uk does not have oil or any major Natural resources apart services and its heavily Tax ....

Tax is bedrock of every growing economy if well utilized
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by persius555(m): 7:03am On Mar 03, 2025
Trump proposed tariff hike as a remedy to save the American public from debt incurring from importation from other countries.

But guess who pays for the tariff hike. Not trump or the government but the American people. In fact, the government coffer benefits more from the tariff hike as tariff hike pn imported goods results to sales tax imposed on goods.

Who pays for sales tax? The American people.

Now, juxtapose that to the Nigerian case. It's the people who'll bear the brunt. This is just the beginning.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by anonimi:
Omalicious1:
Trump is cutting down on tax while BAT is bringing in more tax...
That is the difference between an omoluwabi who does what he says for the benefit of the people who allowed him to exercise their sovereignty on their behalf temporarily and an agbero propagandist liar who is a sadist also.

anonimi:
The eyesore on Bourdillon Road
2nd January 2025

Beyond his neighbours, there is something about the sight of people hanging around a president’s residence that does not speak well of his leadership capabilities. Maybe no one has nudged him to see it, but the impression that spectacle on Bourdillon Road generates is that Tinubu enjoys the sight of suffering humans and thrives in—and through— their poverty.

If all these years, impoverished people hang around you and you remain comfortable enough to keep them just so they can be handed tokens of your large heart, then it means you have a pro-poverty mindset. Such a frame of mind is oriented toward cultivating poverty rather than stimulating abundance. That is why he could unproblematically relate the story of his “friend” who went from using five Rolls Royce to a far-less valued car and not consider the import of the nonsense he was saying. That spurious account was an indication that this is a man for whom poverty—of others, not himself—is an ideal.

https://punchng.com/the-eyesore-on-bourdillon-road/
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by MarketDispatch: 7:06am On Mar 03, 2025
Yusufakinloye22:
https://www.thecable.ng/tax-revenue-as-nigerias-new-crude-oil/
When elected American Politicians speak, they talk about the American people. When elected Nigerian Politicians speak, they talk about the Federal government...see the difference.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Love800(m): 7:07am On Mar 03, 2025
Wrong. Even if the government is taking slow to start, atleast we should be seeing some relievements and credibility to hold on, not crashing hopes of the common man. When you don't see hope in doing something for a long-time, will you still continue with it?
DeLaRue:
What is shocking is that some Nigerians want another new government come 2027.

A new government will come with another set of new policies and may abandon some of the transformational policies of the current government.

A new government will set this country back so many years as it tries to introduce its own policies.

The current government has only been in office for just 2 years, and made so many changes which are changing the structure of our economy for good.

These changes need to be in place for at least several years for it to become irreversible and set us up for a new level of future prosperity.

Nigeria is advancing.

Stop judging the success of a government by how much a Congo of garri or rice costs.

Smh.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by wolement: 7:08am On Mar 03, 2025
Of a truth I can see that this platform is full of paid actors. Actors that will support this government in the face of a reality that says otherwise. They are the first to comment and will attack and bully you if you dont support their master.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Lexicon123:
Yankee101:
Taxation is the recourse for lazy and non innovative leaders

Dubai, Texas and Florida have no income tax

Be innovative and stimulate businesses, taxation is not a solution. Taxing poorly paid and hungry people via multiple and duplicated tax systems is wickedness
Exactly. You can’t reap without sowing. There’s no problem with taxing if the government properly stimulates economic growth. Imagine being forced to pay taxes and levies on revenues like FRC does, when the so-called revenues are due to NGN devaluation, and the entities are actually in huge loss positions. Almost every day you see one stupid demand notice or the other from different agencies of government, with bogus figures, hoping for kickbacks. Practically no infrastructure to feign some support for these businesses. All of these amidst the palpable poverty. So hoping to rely on taxes and levies as new crude oil, is simply dangerous from almost all ramifications.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Love800(m): 7:13am On Mar 03, 2025
Honestly, Nigeria should not have any business to do with tax. Its just useless.
Its from the produces of taxation that you will see wedar a country is wicked or not!

Stupid leaders!
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by patrickcollins: 7:14am On Mar 03, 2025
REDshouse:
.

Then what is Growing UK economy, why is nearly every Nigerian japa (ing) to UK ...

Uk does not have oil or any major Natural resources apart services and its heavily Tax ....

Tax is bedrock of every growing economy if well utilized
UK is an industrialized economy, they have thriving manufacturing industries, they don't just wake up and taxing unemployed masses like what Tinubu administration does
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by patrickcollins: 7:16am On Mar 03, 2025
DeLaRue:
What is shocking is that some Nigerians want another new government come 2027.

A new government will come with another set of new policies and may abandon some of the transformational policies of the current government.

A new government will set this country back so many years as it tries to introduce its own policies.

The current government has only been in office for just 2 years, and made so many changes which are changing the structure of our economy for good.

These changes need to be in place for at least several years for it to become irreversible and set us up for a new level of future prosperity.

Nigeria is advancing.

Stop judging the success of a government by how much a Congo of garri or rice costs.

Smh.
Tell us those transformational policies this government has put out there, propaganda doesn't grow Economy
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by adecz: 7:16am On Mar 03, 2025
The major crude oil 🛢 receipts go into
the pockets of Jagaba and Mele Kyari.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by anonimi:
REDshouse:
Then what is Growing UK economy, why is nearly every Nigerian japa (ing) to UK ...

Uk does not have oil or any major Natural resources apart services and its heavily Tax ....

Tax is bedrock of every growing economy if well utilized
If you must tell lies to make a baseless argument, is it not better to just STFU?

What is the total contribution of O&G to our budget again huh

Key Headlines

> Oil production hits new record and consumption returns to pre-pandemic levels
> UK oil and gas industry contributed $13.2 billion to the UK economy in 2023
> Industry making investments in renewable energy, AI and carbon capture

https://www.bdo.co.uk/en-gb/insights/industries/natural-resources-and-energy/oil-and-gas-market-overview
The oil and gas industry in the United Kingdom produced 1.42 million BOE per day[4] in 2014, of which 59%[4] was oil/liquids. In 2013 the UK consumed 1.508 million barrels per day (bpd) of oil and 2.735 trillion cubic feet (tcf) of gas,[5] so is now an importer of hydrocarbons having been a significant exporter in the 1980s and 1990s.

98% of production comes from offshore fields[6] and the services industry in Aberdeen has been a leader in developing technology for hydrocarbon extraction offshore. Historically most gas came from Morecambe Bay and the Southern North Sea off East Anglia and Lincolnshire, but both areas are now in decline. Oil comes mainly from the North Sea Central Graben close to the median line with Norway in two main clusters – around the Forties oilfield east of Aberdeen and the Brent oilfield east of Shetland. There have been recent discoveries in challenging conditions west of Shetland.[1] As of 2012 there were 15,729 kilometres (9,774 mi) of pipelines linking 113 oil installations and 189 gas installations.[7] The only major onshore field is Wytch Farm in Dorset but there are a handful oil wells scattered across England. There is significant shale potential in the Weald and in the Bowland Shale under Lancashire & Yorkshire, but only a few wells have been drilled to date.

The UK's strengths in financial services have led it to play a leading role in energy trading through markets such as ICE Futures (formerly the International Petroleum Exchange). The price of Brent Crude from the British North Sea remains the major benchmark for the international oil trade, and the National Balancing Point market is the benchmark for most of the gas traded across Europe.
.
.
Current status

Combined oil and gas production volumes in the UK were 1.3 million BOE/day in 2021 and 2022, of which 60% was oil and 40% natural gas production.

https://en.wikipedia.org/wiki/Oil_and_gas_industry_in_the_United_Kingdom#:~:text=Combined%20oil%20and%20gas%20production,and%2040%25%20natural%20gas%20production.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by 10kgod(m): 7:21am On Mar 03, 2025
DeLaRue:
What is shocking is that some Nigerians want another new government come 2027.

A new government will come with another set of new policies and may abandon some of the transformational policies of the current government.

A new government will set this country back so many years as it tries to introduce its own policies.

The current government has only been in office for just 2 years, and made so many changes which are changing the structure of our economy for good.

These changes need to be in place for at least several years for it to become irreversible and set us up for a new level of future prosperity.

Nigeria is advancing.

Stop judging the success of a government by how much a Congo of garri or rice costs.

Smh.
...to be in place for like 30 years or plus grin
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Zionmdde: 7:23am On Mar 03, 2025
MIKOLOWISKA:


Freedom of speech



Did the ordinary man vote for roads or rice, be honest with your self




If you plant bamboo or mango or iroko, will you get returns in a year?





Why not?
You were patient for 64yrs now 8yrs is suddenly too much
I no E Benevento add colonialism period that you didn't cough o



Mending the light you saw during Yar'Adua govt
I dare you

You won't
You will either stay silent or show lack of home training

Ogbeni sharrap
It's only a foolish human being that cannot tell where he is headed to at the beginning of his journey
Tinubu removed subsidy, everything went haywire, he now went through the back and was silently paying more subsidy than the previous government. Isn't that an evidence of a leader without direction?

Asides roads, security, power and food availability, what else does the masses prioritize in a government? To be listening to Cardoso, omokri, onanuga etc yarning akpata and the sufferings keep increasing? They voted for statistics abi? Are you well at all? Ohhh I forgot people like you voted on the grounds of tribalism

So you planted bamboo and in 2yrs it has not sprouted and it is not visible to everyone that the bamboo is heading somewhere, and as naive as you the farmer is, you want to wait for 8 years before knowing if the planting was a failure?

It's no longer 16yrs of pdp? It's now 64yrs.

Even without freedom of speech, I will still tell you to SHARRAP there
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by MadPolitician: 7:25am On Mar 03, 2025
DeLaRue:
What is shocking is that some Nigerians want another new government come 2027.

A new government will come with another set of new policies and may abandon some of the transformational policies of the current government.

A new government will set this country back so many years as it tries to introduce its own policies.

The current government has only been in office for just 2 years, and made so many changes which are changing the structure of our economy for good.

These changes need to be in place for at least several years for it to become irreversible and set us up for a new level of future prosperity.

Nigeria is advancing.

Stop judging the success of a government by how much a Congo of garri or rice costs.

Smh.
Typical agbadorian mutants with their pro government mangled logic
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ehikwe22: 7:26am On Mar 03, 2025
Yoruba people are our number one enemy in the Niger Delta. Since Tinubu came in, he has removed most of the benefits of the Niger Deltans or creating matching benefits for other regions.

He also sponsored the propaganda that VAT is the new oil. His minions have flooded the internet with IGR propaganda and how his south west is sustaining Nigeria. Meanwhile, Niger Delta oil still account for more than 70% of Nigeria's foreign exchange revenue
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by francotunsco: 7:27am On Mar 03, 2025
While I appreciate the effort and success of the government to diversify Nigeria's source of revenue from already dwindling oil receipts to another sector FIRS which is anchored solely on milking from the populace wealth. It must be stated that this new saviour may not be sustainable if the government do no match the newly improved revenue with commensurate improvements in the lives of the exploited populace!

If you begin to have enough milk in the house because you have developed new strategy of optimally milking your cow without ensuring the continues existence of the cow, be rest assured that sooner than later, you will loose your cow and return to zero milk!

Therefore, a shift to FIRS as the major source of revenue is not a thing to rejoice for, I will appreciate if the new oil had been agriculture, production and services sectors or even entertainment. Those are more sustainable than FIRS!
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Cajal(m): 7:30am On Mar 03, 2025
Yusufakinloye22:
https://www.thecable.ng/tax-revenue-as-nigerias-new-crude-oil/
UK economy loading
But place
Begin to use this excess to fix power and road
Instead of giving it out to the governors
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by MrPresident1: 7:30am On Mar 03, 2025
Some eminent person said that a nation cannot tax itself into prosperity.
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by DMCY: 7:31am On Mar 03, 2025
MIKOLOWISKA:
but you want free education and free health and free road and free police. Where do you think it will come from
lol, I never said they shouldn’t tax but the taxes are getting too much and so little to show for the heavy taxation of the citizens…
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by MIKOLOWISKA: 7:43am On Mar 03, 2025
DMCY:
lol, I never said they shouldn’t tax but the taxes are getting too much and so little to show for the heavy taxation of the citizens…
It's easy to start bad things
Very difficult to stop
You voted for awoof
Now ẹ dé rún bele

You get to vote for socialism
Usually you have to bleed, kill, die, starve your way out of it

Be careful what you vote for
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Blackdisciple(m): 7:46am On Mar 03, 2025
So after taxing us what do we get in return it's just a simple question
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ambale(m): 7:58am On Mar 03, 2025
REDshouse:
.

Then what is Growing UK economy, why is nearly every Nigerian japa (ing) to UK ...

Uk does not have oil or any major Natural resources apart services and its heavily Tax ....

Tax is bedrock of every growing economy if well utilized
You tax a working economy not a dormant one like ours
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ambale(m): 8:00am On Mar 03, 2025
DeLaRue:
What is shocking is that some Nigerians want another new government come 2027.

A new government will come with another set of new policies and may abandon some of the transformational policies of the current government.

A new government will set this country back so many years as it tries to introduce its own policies.

The current government has only been in office for just 2 years, and made so many changes which are changing the structure of our economy for good.

These changes need to be in place for at least several years for it to become irreversible and set us up for a new level of future prosperity.

Nigeria is advancing.

Stop judging the success of a government by how much a Congo of garri or rice costs.

Smh.
There's nothing transformational here

What is the percentage of rich that pays luxury taxes?
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ambale(m): 8:01am On Mar 03, 2025
Jamie248:
You're a fine one to argue for tax...everyone clearly can see that you have never been productive in your entire life but you can open that motor-mouth of yours and talk about tax
Na person wey write toh as response for a topic like this you dey folo talk

That foolish irredeemable now
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ambale(m): 8:02am On Mar 03, 2025
MIKOLOWISKA:
but you want free education and free health and free road and free police. Where do you think it will come from
Which one of it do we now get for free??

Una go just open mouth begin dey foam
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by ivandragon: 8:08am On Mar 03, 2025
Taxing the masses is not bad, but the issues are:

1. Are the taxes applied for the good of the masses?

2. Those imposing the taxes, do they pay taxes commensurate to thier wealth?

3. Have other revenue sources been fully harnessed before resorting to high taxes as the primary way to develop the economy?

4. Has the government addressed the problems, such as corruption, multiple taxation etc that make the present tax regime inadequate?

Like I always say, before you reform a system, ensure you sanitise it first, or else, the reforms would only add more problems to the existing ones...
Re: Tax Revenue As Nigeria’s New Crude Oil - Dare Adekanmbi by Tayorshd87(m): 8:09am On Mar 03, 2025
REDshouse:
.

Then what is Growing UK economy, why is nearly every Nigerian japa (ing) to UK ...

Uk does not have oil or any major Natural resources apart services and its heavily Tax ....

Tax is bedrock of every growing economy if well utilized
Thanks for this my brother 😊

Nigerian want the country to be like UK US etc but they don't want to pay tax and they have forgotten heavy tax was the secret for these counties to be great 😃
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