₦airaland Forum

Brendaniel:
It is either you people don't know how an economy works or you people simply just want to act like you don't know, Did Buhari not face the same challenge of oil production even worse than Tinubu?

Yet Tinubu has not achieved more than Buhari even with subsidy removal, he is even borrowing more than Buhari who paid subsidy....


Why do you people hate facing reality?

lawani:
I have pointed out to you earlier that by dollar value the states are receiving far more allocations. Stop using CBN exchange rate of 2023 to calculate or compare. That was not the market rate in 2023. Use the market rate that importers used to use back then

lawani:
The total expected revenue before sharing at 60/40 and before expenses is 40 billion dollars. That is about sixty trillion naira. What the government will end up with is around thirty trillion naira if production rate and prices remain the same. The 58 trillion naira budget is therefore not as dependent on oil as previous budgets. You can fund around half of the budget without oil money. It has taken into consideration non oil revenue gotten last year. I project that oil revenue will not account for more than thirty percent of 2026 revenue

Brendaniel:
What you couldn't still prove yesterday, no single evidence to your claim, you people hate facing reality, that's why Nigeria is the way it is today, people who reason like you are currently in power now, who have supporters like you...


Just take a look at the country, does it look like what normal people are governing?

nairalanda1:
The problem is, the deficit would be filled by borrowing. That's not less oil dependency, that's filling in a hole left behind by very low oil prices.

At best, government got to ramp up taxation in short term, long term, diversificaiton. It's not a one day thing, and also, we got to fight corruption urgently.

lawani:
When they properly publish the revenue profile for last year even when there was no tax law., you will realize that tax has taken over. Revenue for first quarter last year was only 25 percent oil. Revenue for this year will overshoot 58 trillion because of taxes

lawani:
What I want to see is a country where oil revenue is insignificant and the country is moving in that direction. It is a shame for the huge country to be dependent on oil income

lawani:
When they properly publish the revenue profile for last year even when there was no tax law., you will realize that tax has taken over. Revenue for first quarter last year was only 25 percent oil. Revenue for this year will overshoot 58 trillion because of taxes

nairalanda1:
Much of that revenue was filled by borrowing. That's because oil prices had fallen that the expected deficit rose, meaning more and more borrowing.

As for revenue from tax, it was poor. Very poor. To the point that MDA's were not raking in enough money, and VAT for example has been below 7 trillion naira.

Your country is still resource dependent. It's not yet uhuru.

Streetinvestor2:
The government lied about revenue shot falls. And revenue is not only from oil.The tax and others are inclusive. The minister of finance confirmed thr was serious shot fall and the cabal in lagos are calling for his head when they lied they already made it in 9 months

lawani:
What I want to see is a country where oil revenue is insignificant and the country is moving in that direction. It is a shame for the huge country to be dependent on oil income

lawani:
Nigeria generated over 20 trillion naira in eight months in 2025. It will mean over 30 trillion naira in one year if no acceleration. The oil money last year was not up to that.

lawani:
There was a revenue shortfall caused by a drop in oil prices and production but there was an overshoot from taxes etc. A drop caused by oil and a hike caused by taxes. On the overall there would be a revenue increase if you compare to previous years.

Streetinvestor2:
So the minister of finance does not know what he is saying. Abi he doesn't know the components of revenue generation for the country

lawani:
The final non oil revenue for last year will be over thirty trillion naira and there was no tax law last year. We should therefore expect something more this year. Maybe 40 maybe 50 trillion. Who knows? Oil income is also expected at 30 trillion. Therefore 2026 revenue will be in excess of 70 trillion

Brendaniel:
What you couldn't still prove yesterday, no single evidence to your claim, you people hate facing reality, that's why Nigeria is the way it is today, people who reason like you are currently in power now, who have supporters like you...

nairalanda1:
The problem is, the deficit would be filled by borrowing. That's not less oil dependency, that's filling in a hole left behind by very low oil prices.

At best, government got to ramp up taxation in short term, long term, diversificaiton. It's not a one day thing, and also, we got to fight corruption urgently.

lawani:
It seems Tinubu is about to turn Nigeria into a real country. Let's wait and see

Brendaniel:
No...

Tinubu failed woefully in that aspect far below, as at December had only generated 10 trillion while the target was 40 trillion with nothing to show for it even after subsidy removal his predecessors all paid, he only borrowed more and indebted the country more...

Let me just give you a hint, for Tinubu to still be running 2024 and 2025 budgets into 2026, it tells you there is a whole lot wrong with the financial management of Nigeria presently, the country is actually running slower than it should.

if you've been to the university, you will know what I am talking about, when a student is in 400 level and still has many carry over courses from year one he hasn't finished, he might likely have an extra year or years...

You guys hate facing reality, that's just what I've noticed about you people, you people did this for Buhari for 8 years while people like us where shouting as we are doing now only for to finish and you people then admitted that Buhari was destroying the country...


Now you people are doing the same thing for Tinubu, how shameless and wicked can you people be...

Jamie248:
They just keep yapping 'oil revenue is 20% or 30% of total' without any evidence, without any bases...

You know when people intend to be deceitful that always act as if they know so much more than other people...

lawani:
The final non oil revenue for last year will be over thirty trillion naira and there was no tax law last year. We should therefore expect something more this year. Maybe 40 maybe 50 trillion. Who knows? Oil income is also expected at 30 trillion. Therefore 2026 revenue will be in excess of 70 trillion

Streetinvestor2:
Why do u keep misrepresenting things. Who told u thr was no tax law last yr.That u have new tax law does not mean government didn't get tax last Yr.The major tax revenue has always been from coperate businesses and civil servants. It is still same now.They have always paid 30%.And the minister never said oil revenue. He said 2025 government revenue target. This government has lived only on borrowing both internal and external. I hope you know all those short term governance securities are borrowing.,TB,Short and long time bonds, sukuk etc.
This government has borrowed the country to fouth generation. Tell us what is this non oil revenues u have been talking. And how much it has brought to the country so far.Mention each of this products or services and the amount it has generated

lawani:
...

Brendaniel:
Apologies if I sounded insulting in anyway yesterday, I only wanted to tell you the truth, I don't like insulting people...

Streetinvestor2:
Why do u keep misrepresenting things. Who told u thr was no tax law last yr.That u have new tax law does not mean government didn't get tax last Yr.The major tax revenue has always been from coperate businesses and civil servants. It is still same now.They have always paid 30%.And the minister never said oil revenue. He said 2025 government revenue target. This government has lived only on borrowing both internal and external. I hope you know all those short term governance securities are borrowing.,TB,Short and long time bonds, sukuk etc.
This government has borrowed the country to fouth generation. Tell us what is this non oil revenues u have been talking. And how much it has brought to the country so far.Mention each of this products or services and the amount it has generated