Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent (581 Views)
| Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by BlackAdam65(op): 5:10pm On Jun 27, 2025 |
Let’s cut the delusions. For decades, Nigerian states groveled for federal crumbs while their economies suffocated. Tinubu just handed them a guillotine to cut their own chains. Here’s the cold, logical breakdown of how this reform forces states to survive or collapse on their own merit: 💀 THE HARD TRUTH: STATES NOW HAVE NO EXCUSES 1. VAT Blood Transfusion - FG surrenders 5% of its VAT share → states drink directly from revenue veins. - Lagos, Rivers, Kano: The lions will feast (₦2-5bn extra monthly). - Zamfara, Sokoto: The weak will starve if they don’t innovate. 2. Electronic Tax Domination - States now OWN all POS/bank transfer taxes. - Translation: No more hiding behind "Abuja didn’t send money." Your state’s fate is now tied to its **hustle. 3. Betting & Gaming – The New Oil - States can finally tax betting companies like the cash cows they are. - Lagos alone could drain ₦3bn/month from this. - Lazy states? Enjoy your empty coffers. 4. State Bonds: Sink or Swim - Tax-free bonds = cheaper loans for smart states. - But here’s the catch: Investors won’t buy bonds from failed governments. - Good governors build trust → get funding. - Failures will beg IMF. 5. Death to Parasitic Taxes - Roadblocks? Banned. - Multiple levies? Outlawed. - No more "area boys" as tax collectors states must formalize or rot. --- ⚡ WHY TINUBU’S MOVE IS GENIUS This isn’t "help." This is Darwinian economics: - Strong states (Lagos, Rivers, Ogun) will thrive and attract investment. - Weak states will collapse into fiscal irrelevance unless they reform. - Governors can no longer blame Abuja the money is there. Spend it or get exposed. 🔴 THE DARK REALITY CHECK This reform rewards competence and punishes laziness. - Smart states will: - Build infrastructure → attract businesses → grow IGR. - Failed states will: - Embezzle the new funds → remain beggars → watch their youth flee. Tinubu didn’t give states "help." He gave them a test. 🗣 YOUR MOVE, NIGERIANS The era of "FG is our father" is over. Now: - Demand transparency from your governors. - Name and shame looters. - Support states that deliver. The weak will perish. The strong will rule. Which side is your state on? #TinubuTheReformer #StateExecution #NoMoreExcuses (Drop your predictions which states will rise, and which will fall?) PS: This is the hard medicine Nigeria needed. The states that swallow it will survive. The rest? History will forget them. 💀
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| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by Ikaeniyan0: 5:54pm On Jun 27, 2025 |
By this time next year, we will know the states with real purchasing power. |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by UpaIweka: 5:57pm On Jun 27, 2025 |
You will cry eventually You will cry eventually Ikaeniyan0: |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by Ikaeniyan0: 6:05pm On Jun 27, 2025 |
UpaIweka:We shall see We will know the true parasites in the sout |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by DMerciful(m): 6:09pm On Jun 27, 2025 |
Why do you guys deceive yourselves? Tax cannot make a country prosperous BlackAdam65: |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by immaculatesense(m): 6:30pm On Jun 27, 2025 |
BlackAdam65:This is a wonderful write up. An average Nigerian should be able to comprehend this. |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by BlackAdam65(op): 6:36pm On Jun 27, 2025 |
DMerciful:"You’re missing the point. This isn’t just about taxes it’s about POWER. Prosperity doesn’t come from taxes alone, but from WHO controls the money and HOW it’s used. For decades, states were beggars waiting for Abuja’s crumbs. Now: ✅ Lagos, Rivers, Kano – Can finally reap what they sow ✅ Smart Governors – No more excuses; build or get exposed ✅ Businesses – No more harassment by touts & multiple taxes The real issue isn’t taxation it’s ACCOUNTABILITY. If your governor gets ₦10bn extra monthly and still can’t fix roads or schools, the problem isn’t the tax system… it’s the leadership. This reform doesn’t guarantee prosperity it guarantees no more hiding places for failures. Now, the question is: Will YOUR state use this power wisely… or waste it as usual?" |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by DMerciful(m): 6:41pm On Jun 27, 2025 |
You can't tax yourself to prosperity as Margaret Thatcher aptly puts it. The only thing that can make Nigeria orosper is productivity BlackAdam65: |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by BlackAdam65(op): 6:57pm On Jun 27, 2025 |
DMerciful:"Margaret Thatcher also said 'Pennies don’t fall from heaven they have to be earned on earth.' This reform isn’t about taxation it’s about UNLOCKING productivity: 🔓 For Businesses: No more 10 different agencies harassing shops for taxes → More time to produce 🔓 For States: Keep your VAT/electronic taxes → Reward for productive economies 🔓 For Workers: No PAYE if you earn <₦83k → More money to spend/invest Thatcher didn’t oppose taxes she opposed WASTE. This law forces states to earn their keep instead of begging Abuja. Productivity starts when: ✔️ Governments stop stealing ✔️ Businesses aren’t strangled by touts ✔️ Citizens hold leaders accountable Nigeria won’t tax its way to prosperity but it can’t prosper WITHOUT a sane tax system. This is that first step." |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by DMerciful(m): 7:16pm On Jun 27, 2025 |
You're trying to create a mountain out of these tax bills BlackAdam65: |
| Re: Tinubu's Tax Reform: How Nigerian States Will Become Richer & More Independent by BlackAdam65(op): 7:31pm On Jun 27, 2025 |
DMerciful:A mountain? No. But I’ll take a single step out of Nigeria’s valley of fiscal insanity. This reform won’t magically fix Nigeria but it does three practical things: 1️⃣ Ends the robbery: No more ‘touts’ collecting illegal taxes at gunpoint 2️⃣ Rewards work: States that produce (Lagos, Rivers, Kano) keep more of their earnings 3️⃣ Exposes parasites: Governors can no longer blame ‘Abuja’ when schools crumble You want productivity? How productive is a market woman paying 15 different taxes to armed gangs? How productive is a state waiting 6 months for federal handouts? Margaret Thatcher cut taxes but first she had to fix the broken system. That’s all this is. We can either keep cursing the darkness… or light one small match. This reform is the match." Mic Drop Truth: - Before: 90% of states were fiscal toddlers begging for allowance - After: They’ve been given a shovel. Now we’ll see who digs wells… and who digs graves for their economy. Debate closed. 🎤 |
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