₦airaland Forum

If 5% earn 1.8-2m per month and it's standard that the middle class constitute or should make up the majority of the earning class in any society, this means the proportion of Nigerians who earn pretty good from their jobs, businesses and daily hustles is abysmally low.

His methodology in drawing the poverty line makes sense as it's Made in Nigeria by Nigeria, not by the World Bank or those who believe Nigeria begins in Lagos and ends up at Abuja.

ivandragon:
If you took time to read the post, Oyedele spoke extensively about poverty, households putting food on the table and how they arrived at N250,000 as being okay for a family of 5 to take care of themselves.

So, your reaction to my comment shows you didn't read the original post. Simple.

The post was about policy. Is it an appropriate policy? Should the exemption have been higher? Who pays for it and is this fair? Going on about exchange related inflation and spending so long on it shows you did not understand the main point of the post. You chased your bias into the proverbial bush?

Whats the difference between tax and tarrifs?
But the useless agberos still clarify it as under tax. So what are you saying?

NewHe:
I doubt if you realise what's going on?
That means majority of Nigerians workers are poor, so they're not going to pay any tax unlike before!
Agbero, owomida aren't taxes but tarrifs collected by unionist from their members!

BreconHills:
The post was about policy. Is it an appropriate policy? Should the exemption have been higher? Who pays for it and is this fair? Going on about exchange related inflation and spending so long on it shows you did not understand the main point of the post. You chased your bias into the proverbial bush?

That you have limited view and understanding of an issue does not mean everyone should be as myopic as you.

You are free to limit your understanding to policy issues. The Chairman himself spoke extensively on how on they arrived at thier decision, including poverty and affordability.

So, enjoy your limited lane let others look deeper if they so wish.

iwaeda:
How many people are earning 250k per month, that will be exempted, what of informal taxes by agbero and owomida.

Nigerians earning below 250k monthly. Read and understand before jumping to comment ignorantly.

seunmsg:
Nigerians earning below 250k monthly. Read and understand before jumping to comment ignorantly.

You don't understand logic, they want to generate more revenues, but they are exempting more than 55% of working population. Average salary of must households is N200k, most companies paying high salaries have packed up. Tinubu is OTP, if that is what makes you come to my post.

richmond500:
they said household earning 250k, not one person.
Tax is exempted for u as an individual if u earn 120-130k, but immediately u earn 131k, u will pay income tax

No read again the mention, if they are lucky there is two people working in the family .... what if is only one person working in the family and his salary is just let say 180k

iwaeda:
You don't understand logic, they want to generate more revenues, but they are exempting more than 55% of working population. Average salary of must households is N200k, most companies paying high salaries have packed up. Tinubu is OTP, if that is what makes you come to my post.

You don’t understand tax system so your ignorance is understandable. Exempting poor household is simply to ensure increase in the disposable income of most households. More money in the pockets of most people means they can spend more to live a better life. Spending more also help grows the local economy.

Tax policy is not just to generate income but to redistribute income. Those earning more will be tax more for the general benefit of the public.

ivandragon:
'Sounds' good, but the devil is always in the details and the reality on ground...

So, let's do the comparative analysis shall we...

1. Base (period, value etc)

A. Comparative period 2014 and 2025 (2014 is used or 2 reasons. 1. That was when apc came to power. 2. The people in power today protested against the socioeconomic conditions of 2014)

B. Monetary value (using fx rates)
N250,000 today is equivalent to N34,000 in 2014.

So, a brief random comparative analysis would reveal the following...

In 2014, N34,000 would get you about 380 litres of pms.
In 2025, N250,000 gets you about 266 litres of pms.


In 2014, N34,000 got you about 4+ bags of rice.
In 2025, N250,000 gets you 3+ bags of rice.

In 2014, N34,000 got 10 bags of NPK fertilizer.
In 2025, N250,000 gets 5 bags of NPK fertilizer.

In 2014, N34,000 got 55 small baskets of tomatoes.
In 2025, N250,000 gets 42 small baskets of tomatoes.

So, are Nigerians better off socioeconomically under bat?

Your guess is as good as whatever you have surmised...

In 2014, the Nigerian government was subsidising the Naira. Had the GEJ government floated the Naira in 2014, the Naira would have been 1400 to $1

seunmsg:
You don’t understand tax system so your ignorance is understandable. Exempting poor household is simply to ensure increase in the disposable income of most households. More money in the pockets of most people means they can spend more to live a better life. Spending more also help grows the local economy.

Tax policy is not just to generate income but to redistribute income. Those earning more will be tax more for the general benefit of the public.

I listened to Oyedele on Channels TV last night. Without functional economy, this tax regime will send more people to abject poverty. What is the economy index of Nigeria, in terms of earnings/spending. Iam not an auditor

Love800:
Whats the difference between tax and tarrifs?
But the useless agberos still clarify it as under tax. So what are you saying?

Do you belong to any trade associations? Please, meet them to complain!

iwaeda:
I listened to Oyedele on Channels TV last night. Without functional economy, this tax regime will send more people to abject poverty. What is the economy index of Nigeria, in terms of earnings/spending. Iam not an auditor

How will exempting folks earning <250k monthly send more Nigerians to abject poverty? Make it make sense.

Chai, I am in the category of poor people.
#120000/month.
God, when are you going to pick my call.
Please who will teach me FOREX TRADING?

Racoon:
Dey play! How many Nigerian do you know are earning less than 250k? Even someone earning 500k in today's Nigeria is poor. Useless propaganda government

I thought everyone in Nigeria earns 70k ? So majority earns above 500k according to your logic?

richmond500:
they said household earning 250k, not one person.
Tax is exempted for u as an individual if u earn 120-130k, but immediately u earn 131k, u will pay income tax

You will mpay income tax on 1 naira

Islie:
https://punchng.com/nigerians-earning-below-n250000-monthly-exempted-from-tax-oyedele/?amp

Business owners will still escape by using their business to run personal expenses. It's people working for private firms that are about to get roped.

So young teenagers working as as sales girls, etc will also have tax ID? They better start getting paid in cash and maybe weekly to avoid wahala.

iwaeda:
You don't understand logic, they want to generate more revenues, but they are exempting more than 55% of working population. Average salary of must households is N200k, most companies paying high salaries have packed up. Tinubu is OTP, if that is what makes you come to my post.

The story is false. It's for household with two people raking in combined income of 250k that will be exempt. Individuals earning 250k will pay tax on about half their salary. I can't remember the percentage now.

You can search and watch seun of channels TVs interview with the man

sulaak:
In 2014, the Nigerian government was subsidising the Naira. Had the GEJ government floated the Naira in 2014, the Naira would have been 1400 to $1

You are free to deal in conjectures and 'what ifs'. I could also argue that even if GEJ had 'floated' the Naira in 2014, it wouldnot have gone beyond 400.

The same bat condemned the 2014 fx rates of 214 as being to high. Why didn't he push for a 'float'?

Like I said, the realities speak for themselves.

Babastrong:
Chai, I am in the category of poor people.
#120000/month.
God, when are you going to pick my call.
Please who will teach me FOREX TRADING?

I'll advise you stay away from forex trading or any type of online trading.

Take this advice so as not to learn the hard way.

Speaking from experience.

richmond500:
they said household earning 250k, not one person.
Tax is exempted for u as an individual if u earn 120-130k, but immediately u earn 131k, u will pay income tax

That stunt by the man really made me feel bad
Can you imagine
Must they trick the masses

ivandragon:
'Sounds' good, but the devil is always in the details and the reality on ground...

So, let's do the comparative analysis shall we...

1. Base (period, value etc)

A. Comparative period 2014 and 2025 (2014 is used or 2 reasons. 1. That was when apc came to power. 2. The people in power today protested against the socioeconomic conditions of 2014)

B. Monetary value (using fx rates)
N250,000 today is equivalent to N34,000 in 2014.

So, a brief random comparative analysis would reveal the following...

In 2014, N34,000 would get you about 380 litres of pms.
In 2025, N250,000 gets you about 266 litres of pms.


In 2014, N34,000 got you about 4+ bags of rice.
In 2025, N250,000 gets you 3+ bags of rice.

In 2014, N34,000 got 10 bags of NPK fertilizer.
In 2025, N250,000 gets 5 bags of NPK fertilizer.

In 2014, N34,000 got 55 small baskets of tomatoes.
In 2025, N250,000 gets 42 small baskets of tomatoes.

So, are Nigerians better off socioeconomically under bat?

Your guess is as good as whatever you have surmised...

Factor in the recession and pandemic which didn't happen prior to 2014 and also deduct the high price of crude oil that 2014 had prior and during it?

So are Nigerians better off socioeconomically under bat after 2 years compared to 16 years of which GEJ had 5 years of and our very own sleepy Joe had 8 years of and the answer is YES, without Tinubu's bold leadership we would have been spending 5000 naira and 10000 naira notes by now and gearing up for our 100,000 naira notes by January

Nothing good comes easy.... Every Nigerians will eventually thank Tinubu later as most of us are already thanking him for saving this country if not Africa herself from economic obliteration.

iwaeda:
How many people are earning 250k per month, that will be exempted, what of informal taxes by agbero and owomida.

calm down and talk on your behalf only.

richmond500:
they said household earning 250k, not one person.
Tax is exempted for u as an individual if u earn 120-130k, but immediately u earn 131k, u will pay income tax

buh as citizen,is it not Ur duty to pay tax before ?

It doesn't stop your bank from doing the needful

psalmsjob:
Factor in the recession and pandemic which didn't happen prior to 2014 and also deduct the high price of crude oil that 2014 had prior and during it?

So are Nigerians better off socioeconomically under bat after 2 years compared to 16 years of which GEJ had 5 years of and our very own sleepy Joe had 8 years of and the answer is YES, without Tinubu's bold leadership we would have been spending 5000 naira and 10000 naira notes by now and gearing up for our 100,000 naira notes by January

Nothing good comes easy.... Every Nigerians will eventually thank Tinubu later as most of us are already thanking him for saving this country if not Africa herself from economic obliteration.

What you are doing is intellectual mastubation to justify failure. If, if, if...

It is easy to argue on 'IFs' all day long and based on that, I can argue that even if pdp had all those ifs you mentioned, they would have still performed better.

Besides, you say nothing comes easy, yet, bat and his cohorts in the political class have not reduced thier own expenses and subsidies, so who is fooling who?

Anyway, you are free to justify whatever suits you.

seunmsg:
How will exempting folks earning <250k monthly send more Nigerians to abject poverty? Make it make sense.

Toor!! Osu mi o. Obidients and this endless bitterness, weeping and complaining. They always want to find fault in anything Tinubu does no matter how ridiculous their arguments sound.

In 2013 when my take home was 200k+ I consider myself as a big boy, Now that it exceed 1m+ to carry car go office, I dey try am.

ivandragon:
What you are doing is intellectual mastubation to justify failure. If, if, if...

It is easy to argue on 'IFs' all day long and based on that, I can argue that even if pdp had all those ifs you mentioned, they would have still performed better.

Besides, you say nothing comes easy, yet, bat and his cohorts in the political class have not reduced thier own expenses and subsidies, so who is fooling who?

Anyway, you are free to justify whatever suits you.

I can understand that most of people like you started following or being aware of politics in 2023 so the facts I just pointed to you looks like "if" to you or you just lack the ability to comprehend my point.

It's not about reducing expenses but making good use of the resources while it is pouring in like when oil price being higher than budgeted cost yet they couldn't save or utilize it for good but wasted and stole it all.... Repots of 20 billion missing, snake swallowing money in government office, awarding contracts to non-existent companies, saving it in fidelity bank where they are shareholders like Peter Obi did and also operating foreign account Panama where his son and daughter are named directors etc..... argue with your ignorance not with me.

@psalmsjob

You and the 'bots' can manipulate the quotes all you want...

You have your head so far up the posterior of those who deceive you that you have lost all sense of reasoning.

People like you have no concept of right or wrong, whatever bat says must be correct. That you chose a slavish approach to supporting your ruler does not mean everyone else has to follow same path.

You talk about reducing expenses, is it only the masses that must suffer the reforms? Is bat reducing expenses for himself and cronies? Is he cutting his own costs?

When bat leaves office, then we can talk about what is missing and what is not.

Awarding contract? You are feigning ignorance of BAT's ties to chaguory? Anyway, people like you are as blind as BAT's when you want to justify the unjustifiable.

What is my business with obi? Has he done any thing different from bat? What is BAT's source of income? What are his investments and how did he come about them? Or is it proceeds from his 'opiod' days that has sustained him so far?

Argue with your wilful blindness, not me.