₦airaland Forum

truthbetold22:
Some of us have companies and can evade it. We are prepared!! It is poor people like you I feel sorry for.

Company owner, yet u are the person lamenting?

grandstar:
You made a point. Perhaps, no tax,no representation they. If, however, people are made to pay their taxes, then they deserve accountability.

Nevertheless, non-oil taxes need to increase. No matter how prudent, 100k a month salary can not feed a family of 7 kids no matter how prudent one is.

Likewise, the economy can no longer survive on crude oil revenues.

Let us say the government produces 2mbpd and earns $20bn and the GDP is $100bn : that means tax to Gdp is 20%

5 years later $20bn $150bn: This is 15% to the GDP

5 years later $20bn $200bn: that is 10%

5 years later $20bn $250bn 7.5%

Through computation above, by the time it is 10%, the economy will reset. The economy can not grow beyond the crude oil revenues.

If you think I am lying, let's do some maths

In 2014, $1 = N170. The minimum wage was 18,000. That is $106
In 2024, $1= N1,600. The minimum wage is 70,000/ That is $44

Today, the minimum wage is less than half of what it was in 2014.

A lot of it is due to the country's over reliance on crude oil for revenue and for dollar inflows.

If non-oil tax revenues do not rise, the country will keep suffering from thise curse.

This your argument and the ridiculous permutations are annoying and counterintuitive. I've always maintained that Nigeria's quasi-intellectual class, to which you obviously belong, is our biggest problem. Too much hypocrisy and sophistry, too little morality, pragmatism and objectivity.

You cannot talk about the insufficiency of crude oil revenues and the imperative of enforced tax payments without FIRST addressing accountability and fiscal prudence in the management of public funds. There is no meh meh meh long talk. This is simple and short, and no other fake intellectual argument to the contrary will be entertained.

Your immensely extravagant political class, especially the irritatingly corrupt bat and his gang, and government functionaries at all levels, cannot be spending the "insufficient" crude oil revenues on nonsense, while telling us that what Nigeria needs is more money, from loans, from tax, and from extracting the blood of long-suffering citizens. This will NEVER be tolerated. First things first.

grandstar:
You made a point. Perhaps, no tax,no representation they. If, however, people are made to pay their taxes, then they deserve accountability.

Nevertheless, non-oil taxes need to increase. No matter how prudent, 100k a month salary can not feed a family of 7 kids no matter how prudent one is.

Likewise, the economy can no longer survive on crude oil revenues.

Let us say the government produces 2mbpd and earns $20bn and the GDP is $100bn : that means tax to Gdp is 20%

5 years later $20bn $150bn: This is 15% to the GDP

5 years later $20bn $200bn: that is 10%

5 years later $20bn $250bn 7.5%

Through computation above, by the time it is 10%, the economy will reset. The economy can not grow beyond the crude oil revenues.

If you think I am lying, let's do some maths

In 2014, $1 = N170. The minimum wage was 18,000. That is $106
In 2024, $1= N1,600. The minimum wage is 70,000/ That is $44

Today, the minimum wage is less than half of what it was in 2014.

A lot of it is due to the country's over reliance on crude oil for revenue and for dollar inflows.

If non-oil tax revenues do not rise, the country will keep suffering from thise curse.

The problematic question is this; what have they done with the previous taxes of over 2 years. what is the benefits? as it helped Nigerians? What are or is the Impact(s)?

You asked me for 10 million I gave it you, you didn't account for it, you didn't show me the benefits and impact of the 10 million, and you believe that when you come to me again to give you 20 million I will give you?. It's not possible. Tinubu thinks more money will solve Nigeria's problems, it won't. Fiscal & Financial management not asking for more money is what will solve the myriad of Nigeria's problems

Hedonisco:
This your argument and the ridiculous permutations are annoying and counterintuitive. I've always maintained that Nigeria's quasi-intellectual class, to which you obviously belong, is our biggest problem. Too much hypocrisy and sophistry, too little morality, pragmatism and objectivity.

You cannot talk about the insufficiency of crude oil revenues and the imperative of enforced tax payments without FIRST addressing accountability and fiscal prudence in the management of public funds. There is no meh meh meh long talk. This is simple and short, and no other fake intellectual argument to the contrary will be entertained.

Your immensely extravagant political class, especially the irritatingly corrupt bat and his gang, and government functionaries at all levels, cannot be spending the "insufficient" crude oil revenues on nonsense, while telling us that what Nigeria needs is more money, from loans, from tax, and from extracting the blood of long-suffering citizens. This will NEVER be tolerated. First things first.

USA, the UK, France, Japan have very levels of corruption.

Despite that, all of them have massive budget deficits. That means their revenues does not cover their expenditures. Zero corruption will not fill hole in the purse.

Nigeria's tax to GDP is very low at 11%. Even if you reduce corruption, revenues need to go up.

But the highlighted is really the issue to you so I understand I am wasting my time.

The irony is that the long suffering poor will only grow poorer if revenues do not increase. I have already used a simple analogy which is evidenced based. You yourself can't deny it.

Hedonisco:
This your argument and the ridiculous permutations are annoying and counterintuitive. I've always maintained that Nigeria's quasi-intellectual class, to which you obviously belong, is our biggest problem. Too much hypocrisy and sophistry, too little morality, pragmatism and objectivity.

You cannot talk about the insufficiency of crude oil revenues and the imperative of enforced tax payments without FIRST addressing accountability and fiscal prudence in the management of public funds. There is no meh meh meh long talk. This is simple and short, and no other fake intellectual argument to the contrary will be entertained.

Your immensely extravagant political class, especially the irritatingly corrupt bat and his gang, and government functionaries at all levels, cannot be spending the "insufficient" crude oil revenues on nonsense, while telling us that what Nigeria needs is more money, from loans, from tax, and from extracting the blood of long-suffering citizens. This will NEVER be tolerated. First things first.

I 1000% agree with you. They are buying cars of 150 million each, they take loans running in billions but can't use such money to better the lives of Nigerians. It's well

grandstar:
USA, the UK, France, Japan have very levels of corruption.

Despite that, all of them have massive budget deficits. That means their revenues does not cover their expenditures. Zero corruption will not fill hole in the purse.

Nigeria's tax to GDP is very low at 11%. Even if you reduce corruption, revenues need to go up.

But the highlighted is really the issue to you so I understand I am wasting my time.

The irony is that the long suffering poor will only grow poorer if revenues do not increase. I have already used a simple analogy which is evidenced based. You yourself can't deny it.

But people have been suffering before now, so increasing revenue will reduce the suffering without making the economy better for the poor people? Where's the logic?
You can't use 20 billion dollars to better the lives of Nigerians, so you believe 40 Billion dollars will?
Dey play, just dey play

Omowale2023:
The problematic question is this; what have they done with the previous taxes of over 2 years. what is the benefits? as it helped Nigerians? What are or is the Impact(s)?

You asked me for 10 million I gave it you, you didn't account for it, you didn't show me the benefits and impact of the 10 million, and you believe that when you come to me again to give you 20 million I will give you?. It's not possible. Tinubu thinks more money will solve Nigeria's problems, it won't. Fiscal & Financial management not asking for more money is what will solve the myriad of Nigeria's problems

The country needs more revenue. 10% tax to revenue is a recipe for disaster.

Anyway, it is already improving. I search Google: government revenue to Nigeria gdp

Nigeria's government revenue as a percentage of GDP has seen recent increases, rising to around 13.5% in 2024/2025, up from lower figures (around 8-9%) in prior years, thanks to reforms like fuel subsidy removal and automated tax collection, though the goal is to reach 18% by 2030. Historically, this ratio fluctuates, with highs near 29% (2000) and lows around 5.5% (2016), reflecting economic shifts and oil price volatility.

Recent Trends (2023-2025)

2023: Around 8.49% (IMF data).

2024/2025: Reached approximately 13.5%, driven by reforms.

Target: Aiming for 18% by 2030.

Burob:
Company owner, yet u are the person lamenting?

Read the intelligent submission of Hedonisco above. That is how sensible people reason and think.