₦airaland Forum

Vision101:
I suspect so. People make noise about tax. Tax is tax. Just always consider tax implications in your investment decision.

grandstar:
What most critics of the new tax laws don't understand is they and the country suffers with low tax revenues.

Tax revenues are barely 10% of GDP. Overdependence on oil revenues has led to this problems.

It's because tax collection is low affects the exchange rate of the Naira. Huge borrowing affects the value of the currency.

In addition, low tax revenues is one reason why many are poorly paid. If tax revenues were like 20% of GDP, doctors would be better paid

There's just so much you can squeeze out from crude oil revenues. The economy can not grow greater than it's crude oil revenues.

There's was a time I was in over 200 WhatsApp groups. Now, I was using a 16GB phone. Obviously, it couldn't cope.

The phone kept crashing and deleted lots of ,WhatsApp messages to get back to the 16GB. It was always resetting.

It is the same with Nigerias crude. The economy can't grow bigger than the crude oil revenues. It would continue to reset anytime it passes the crude oil capacity.

There needs to be change.

treesun:
https://nairametrics.com/2025/12/29/femi-otedola-sells-majority-stake-in-geregu-power-in-750-million-deal/

grandstar:
What most critics of the new tax laws don't understand is they and the country suffers with low tax revenues.

Tax revenues are barely 10% of GDP. Overdependence on oil revenues has led to this problems.

It's because tax collection is low affects the exchange rate of the Naira. Huge borrowing affects the value of the currency.

In addition, low tax revenues is one reason why many are poorly paid. If tax revenues were like 20% of GDP, doctors would be better paid

There's just so much you can squeeze out from crude oil revenues. The economy can not grow greater than it's crude oil revenues.

There's was a time I was in over 200 WhatsApp groups. Now, I was using a 16GB phone. Obviously, it couldn't cope.

The phone kept crashing and deleted lots of ,WhatsApp messages to get back to the 16GB. It was always resetting.

It is the same with Nigerias crude. The economy can't grow bigger than the crude oil revenues. It would continue to reset anytime it passes the crude oil capacity.

There needs to be change.

Wotowotoman:
I can bet anything say na him get the so called Ma’am Energy!

grandstar:
What most critics of the new tax laws don't understand is they and the country suffers with low tax revenues.

Tax revenues are barely 10% of GDP. Overdependence on oil revenues has led to this problems.

It's because tax collection is low affects the exchange rate of the Naira. Huge borrowing affects the value of the currency.

In addition, low tax revenues is one reason why many are poorly paid. If tax revenues were like 20% of GDP, doctors would be better paid

There's just so much you can squeeze out from crude oil revenues. The economy can not grow greater than it's crude oil revenues.

There's was a time I was in over 200 WhatsApp groups. Now, I was using a 16GB phone. Obviously, it couldn't cope.

The phone kept crashing and deleted lots of ,WhatsApp messages to get back to the 16GB. It was always resetting.

It is the same with Nigerias crude. The economy can't grow bigger than the crude oil revenues. It would continue to reset anytime it passes the crude oil capacity.

There needs to be change.

truthbetold22:
It is like all defenders of the tax laws have lost their sense of humanity and common sense.

For starters, nigeria is an extremely poor country so any taxation targeted at both the rich and poor will have more people fall below the poverty bracket. Nigerians can barely feed, cannot afford fuel and you think it is a good idea to increase taxes. As it stands; you already pay Vat, transfer charges and a lot of other indirect taxes running into billions every year.

Now this brings us to the crux of the matter: you are ruled by criminals and kleptocrats, thieves who do not even care what the people say or think anymore. Trillions are looted out of nigeria yearly by your leaders and civil servants which they invest and hide abroad. Now, the government has not shown goodwill by properly fighting corruption, by judiciously recovering monies from corrupt citizens and utilizing it for beneficial projects that are viable and visible. Look at Malami and the trillions he stole in 8 years. Do you know how many Malami’s and Emefiele’s we have in nigeria??

So rather than close the loop holes, show commitment to saving money, recovering money; plugging wastages and doing meaningful projects in a bid to assure the citizens that the government is capable of managing your additional taxes, you think the solution is to tax the people more to fund the hundreds of Malami’s and Yahaha Bellos in Nigeria.

You reside in a country where the presidents convoy is longer than the USA president. Where the convoy of local government chairmen is longer than the governor of California whose GDP is larger than Nigeria. You live in a country where the salary of a senator is larger than the Salary of the USA president and you think increased taxation on the citizens is the only way to raise revenue. Shame on you!!

Citizens are happy to pay tax then they are assured of services and goodwill. That is clearly not the case in Nigeria.

If you think additional taxation is the solution to Nigeria’s problem, you are a slowpoke.

truthbetold22:
It is like all defenders of the tax laws have lost their sense of humanity and common sense.

For starters, nigeria is an extremely poor country so any taxation targeted at both the rich and poor will have more people fall below the poverty bracket. Nigerians can barely feed, cannot afford fuel and you think it is a good idea to increase taxes. As it stands; you already pay Vat, transfer charges and a lot of other indirect taxes running into billions every year.

Now this brings us to the crux of the matter: you are ruled by criminals and kleptocrats, thieves who do not even care what the people say or think anymore. Trillions are looted out of nigeria yearly by your leaders and civil servants which they invest and hide abroad. Now, the government has not shown goodwill by properly fighting corruption, by judiciously recovering monies from corrupt citizens and utilizing it for beneficial projects that are viable and visible. Look at Malami and the trillions he stole in 8 years. Do you know how many Malami’s and Emefiele’s we have in nigeria??

So rather than close the loop holes, show commitment to saving money, recovering money; plugging wastages and doing meaningful projects in a bid to assure the citizens that the government is capable of managing your additional taxes, you think the solution is to tax the people more to fund the hundreds of Malami’s and Yahaha Bellos in Nigeria.

You reside in a country where the presidents convoy is longer than the USA president. Where the convoy of local government chairmen is longer than the governor of California whose GDP is larger than Nigeria. You live in a country where the salary of a senator is larger than the Salary of the USA president and you think increased taxation on the citizens is the only way to raise revenue. Shame on you!!

Citizens are happy to pay tax then they are assured of services and goodwill. That is clearly not the case in Nigeria.

If you think additional taxation is the solution to Nigeria’s problem, you are a slowpoke.

According to the NGX filing, Amperion Power Distribution Company Limited, the majority shareholder of Geregu Power

Hedonisco:
Sold a dud, as usual. As crafty as ever.

If it was a cash flow machine, he wouldn't sell it.

Now that he is fully in control of a real cash cow (First Bank), he no send anything again.

shortgun:
I suspect a hostile takeover. The man was probably threatened.
What is MA'AM Energy limited

Melagros:
COMRADES, from oil to energy/ power, and now finance, hope his fortune is not declining

seunmsg:
Who are the people behind MA’AM Energy?

grandstar:
What most critics of the new tax laws don't understand is they and the country suffers with low tax revenues.

Tax revenues are barely 10% of GDP. Overdependence on oil revenues has led to this problems.

It's because tax collection is low affects the exchange rate of the Naira. Huge borrowing affects the value of the currency.

In addition, low tax revenues is one reason why many are poorly paid. If tax revenues were like 20% of GDP, doctors would be better paid

There's just so much you can squeeze out from crude oil revenues. The economy can not grow greater than it's crude oil revenues.

There's was a time I was in over 200 WhatsApp groups. Now, I was using a 16GB phone. Obviously, it couldn't cope.

The phone kept crashing and deleted lots of ,WhatsApp messages to get back to the 16GB. It was always resetting.

It is the same with Nigerias crude. The economy can't grow bigger than the crude oil revenues. It would continue to reset anytime it passes the crude oil capacity.

There needs to be change.

vanitybutiwanti:
Abdullaziz Yari, fomer governor of zamfara

Melagros:
COMRADES, from oil to energy/ power, and now finance, hope his fortune is not declining

JuanDeDios:
Ma'am Energy. Never heard of it. Likely some politician behind it.

ttmax09:
Fmr governor of Zamfara state oooo, Yari. The company is less than 2 years old.

JuanDeDios:
Ma'am Energy. Never heard of it. Likely some politician behind it.

Wotowotoman:
I can bet anything say na him get the so called Ma’am Energy!

truthbetold22:
It is like all defenders of the tax laws have lost their sense of humanity and common sense.

For starters, nigeria is an extremely poor country so any taxation targeted at both the rich and poor will have more people fall below the poverty bracket. Nigerians can barely feed, cannot afford fuel and you think it is a good idea to increase taxes. As it stands; you already pay Vat, transfer charges and a lot of other indirect taxes running into billions every year.

Now this brings us to the crux of the matter: you are ruled by criminals and kleptocrats, thieves who do not even care what the people say or think anymore. Trillions are looted out of nigeria yearly by your leaders and civil servants which they invest and hide abroad. Now, the government has not shown goodwill by properly fighting corruption, by judiciously recovering monies from corrupt citizens and utilizing it for beneficial projects that are viable and visible. Look at Malami and the trillions he stole in 8 years. Do you know how many Malami’s and Emefiele’s we have in nigeria??

So rather than close the loop holes, show commitment to saving money, recovering money; plugging wastages and doing meaningful projects in a bid to assure the citizens that the government is capable of managing your additional taxes, you think the solution is to tax the people more to fund the hundreds of Malami’s and Yahaha Bellos in Nigeria.

You reside in a country where the presidents convoy is longer than the USA president. Where the convoy of local government chairmen is longer than the governor of California whose GDP is larger than Nigeria. You live in a country where the salary of a senator is larger than the Salary of the USA president and you think increased taxation on the citizens is the only way to raise revenue. Shame on you!!

Citizens are happy to pay tax then they are assured of services and goodwill. That is clearly not the case in Nigeria.

If you think additional taxation is the solution to Nigeria’s problem, you are a slowpoke.

Burob:
You just dey yap nonsense, how much burden is the extra taxation on the so called poor, e reach even half of the money they wage on betnaija, or nairabet monthly?

truthbetold22:
I don’t expect a child who doesn’t pay bills to understand..

Please tell us what all the crude oil revenue and indirect taxes including trillions raised by customs yearly and all the Nigerian revenue generation institutions has been used for that has benefited you in the last 20 years if you are that old self.

I can’t help you use your brain. All countries pay tax. However, the tax is used for the citizens and the government is accountable. Government that could not develop nigeria with crude oil revenue since 1960, it is when you pay 20% tax through your nose that you ll get dividends of democracy.

Abeg, how many Emifele and Yahaya bello do you have in the USA and UK?

You can’t think for yourself!!

Burob:
Mr Wokerman after this your long epistle, u will still pay.

Omowale2023:
I totally disagree with you, you can't be tasking beyond what your economy can produce, accountability is the sole of business, till now, we don't know who we pay subsidies to, Till now, MDA's haven't given account of the money be allocated to them. The truth is most Nigerians don't run businesses, they are entrepreneurs not business owners, because there's no business owner in this world or heaven that will continue to give money to a department in its organization without giving account on how it spent the money and showing results of the money being spent. Nigeria is not a country.

Vision101:
The ignorant will murder you for all that you wrote here. I understand fully what you said. We have operated buying and selling economy for too long. Productive economy must come with proper taxation. The arrival of crude oil killed taxation in Nigeria. Apart from taxes imbedded in cost of goods and PAYE, Nigerians pay little or no tax. All high end Nigerians including those that tell us that a new Nigeria is possible pay little or no tax. Who has ever gone to jail in this country for not paying tax?