₦airaland Forum

OgaSeun:
But they don't generate enough money.
Ibadan generates more more than 5 South East states put together.

shortgun:
Wrong!
What's important and of economic value is the oil producing states, because
oil remains the main source of federal government revenue and South east has 3 oil producing states....Imo, Abia and Anambra
Oyo is not an oil producing state.

What's important and of economic value to the Federal government are the oil producing states.
They provide about 85% of federal government revenue.

The VAT contribution you guys keep shouting up and down only contributes less than 13% of total federal government revenue.
Nigeria will collapse if it depends on VAT revenue!
Nigeria survives on oil revenue.
If they say keep your VAT and the oil producing states keep their oil, your state will not survive for a week

OgaSeun:
But they don't generate enough money.
Ibadan generates more more than 5 South East states put together.

Ttalk:
I've warned you to stop misleading people on Nairaland, you can't just listen to gossip and come to Nairaland to spew that as statement of fact.

You are the one misleading people with misinformation.
I've seen this severally and people like me can never be deceived.
Tax revenue is different from total revenue
The image below is what most you refer to all the time.
The statistics there is comparing taxes derived from oil and taxes derived from non oil sectors of the economy.
Emphasis on taxes!

shortgun:

You are the one misleading people with misinformation.
I've seen this severally and people like me can never be deceived.
Tax revenue is different from total revenue
The image below is what most you refer to all the time.
The statistics there is comparing taxes derived from oil and taxes derived from non oil sectors of the economy.
Emphasis on taxes!

chnnmfl:
Look at this agba.do illiterate peddling misinformation here.

Nigeria uses global crude oil price to plan her budget each year not taxes.

And by the way, for 2025 the govt projected 30 trillion in total revenue. Then total VAT revenue is projected at six trillion. So the Oyo VAT noise the state only contribute a fraction of is not even up to twenty percent of Nigeria's projected revenue for the year.

Ttalk:
Even you don't know the meaning of illiterate so I excuse you on your ignorance.

Don't just post irrelevant caption that doesn't address the subject matter.

There is Federation where chunk of sub region revenue comes from FAAC, FAAC is Nigeria idea of ensuring Nigeria sub region survive by taking the wealth of the working subregion to support lazy states.

Now that this pattern can no longer hold and has to give way for states generating and surviving mainly on its generated income, Oyo state today has demonstrated that it's IGR that surpass that of 4 SE states stand a chance to survive than 4 states in SE put together.

Ttalk:
Please type in English because what you wrote up there has no meaning and you haven't say anything.

Non oil revenue has surpass oil revenue that is the main discussion, stay within the confine of the subject matter.

Your above post says, "because
oil remains the main source of federal government revenue"

Is untrue, misleading and outright misinformation accept and move on and stop embarrassing yourself for lack of knowledge

shortgun:
Yes, oil remains the main source of federal government revenue
You don't even understand what you posted.
All the "non-oil revenue has surpassed oil revenue" you are salivating on are technically comparing:

non-oil tax revenue (VAT, CIT, import duties, customs, etc.)
vs.
oil-related tax revenue (Petroleum Profit Tax, royalties, etc.)

They are not comparing:
Total non-oil revenue vs. Total oil earnings (crude export proceeds + taxes + royalties + NNPC remittances).

So whenever you see a headline which say “non-oil has overtaken oil revenue,”
What they’re really saying is:
Tax from non-oil sectors is now larger than tax from oil sectors.
not that Nigeria earns more from non-oil than from crude oil itself.

Even the so called non oil revenue is still gotten from companies and economic activities tied to the crude oil value chain

This may be too much for you to understand but that's what it is in simple terms

ZombieDredd:
you people always lie to feel good about yourself.

this is public knowledge but ofcourse lies is like food to you lots

chnnmfl:
Leave that half baked illiterate to wallow in delusion.

Key emphasis is: "Tax from non-oil sectors is now larger than tax from oil sectors...not that Nigeria earns more from non-oil than from crude oil itself."

Nigeria won't be using global crude oil price to plan her budget each year if oil revenue is not our major revenue earner.

Oyo state VAT noise, Ogun state IGR noise. Now tell them to go for a separate nation since he claims that the whole SW is economically viable yet they won't.

chnnmfl:
You are a slow.poke... for insinuating that SE can't stand alone. SE that was considered as the fastest economy in the world in the early fifties.

South West can exit unhurt yet Awolowo was terrified by the idea of Biafra separation? Just as many Yorubas are still frightened by the idea of Biafra till this day.

Just only the gas reserve in imo state today can survive the whole southern Nigeria in the next hundred years.

chnnmfl:
Do you really know what IGR is ? I doubt your mental capacity. I wish I can explain this to you in a voicenote.

You claimed Oyo IGR surpasses SE states but Oyo state still benefits and enjoy Oil revenue from Imo, Abia and Anambra in FAAC allocation. Oil revenue of a state doesn't reflect in the IGR.

In a REAL true Federation Imo, Abia and Anambra will have to sell her oil and gas direct to foreign buyers and pay tax to the center govt. They can as well build their own seaport to deprive Lagos from custom revenue since SE citizens has highest number of citizen importing into the country. Then lets see how Lagos, Ogun, and other SW states can survive.

The gas reserve in imo state only which is biggest in Africa can sustain the whole SE in next hundred years, the trans Saharan gaspipe line that they are building now, where do think that Nigeria intend to supply Europe gas from?

If the whole SW is truly economically viable Awolowo won't bother to work with Gowon to stop Biafra from seceding.

Do you understand it now or is it still mentally challenging for you to grasp?

chnnmfl:
You are a slow.poke[/b]... for insinuating that SE can't stand alone. [b]SE that was considered as the fastest economy in the world in the early fifties.

South West can exit unhurt yet Awolowo was terrified by the idea of Biafra separation? Just as many Yorubas are still frightened by the idea of Biafra till this day.

Just only the gas reserve in imo state today can survive the whole southern Nigeria in the next hundred years.

Putinofrussia:
Fastest growing koh,lowest growing nih.
This is a lie carried by Igbo bloggers as they usually do.
SE was the most backward then and they were fleeing to Ibadan which was the most developed,richest and progressive then before Ironsi spoilt everything with envy.

chnnmfl:
Another agba.do illiterate spotted. Pls do you know what AI is?

Open Chatgpt on your phone, ask the following question: "Was Old Eastern Region in Nigeria once considered the fastest growing economy in the world?"

Screen shot and show me the answer. Truly Awolowo free half baked education was really a bad one.

By the way, this pic below was the Ibadan that most Igbo people fled to according to you.

Ttalk:
I've warned you to stop misleading people on Nairaland, you can't just listen to gossip and come to Nairaland to spew that as statement of fact.

Ttalk:
Many of you who are drown in the fantasy of falsehood can never see what is about to hit you.

Your leaders who know the implication of Kanu's Biafra agitation denied MNK and his Biafra when Buhari chose to give you your 5 States Biafra.

Since you have gas larger than the Atlantic ocean,why not mobilise your representatives to push for resource control tomorrow and abolish FAAC so you can begin to swim in your oil and gas.

Without Nigeria your region will be the first to collapse as Nigeria has been the one feeding your region and not the other way round

chnnmfl:
Another agba.do illiterate spotted. Pls do you know what AI is?

Open Chatgpt on your phone, ask the following question: "Was Old Eastern Region in Nigeria once considered the fastest growing economy in the world?"

Screen shot and show me the answer. Truly Awolowo free half baked education was really a bad one.

By the way, this pic below was the Ibadan that most Igbo people fled to according to you.

chnnmfl:
Since you claims that SW can stand alone and that other regions are gaining from your VAT and IGR, why can't you people move for a separate nation? Why are Yorubas the one heavily frightened by the idea of disintegration in Nigeria? ANSWER ME!