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Nigeria Cannot Borrow Its Way To Development – Oyedele - Politics (2) - Nairaland

Nairaland ForumNairaland GeneralPoliticsNigeria Cannot Borrow Its Way To Development – Oyedele (5258 Views)

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Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Lush100(m): 8:48am On May 13
dederocs:
No mind them, the natural resources no do them, dem wan add our hard earned money...bank transfer charges and taxes and VAT no do them. All we see is politicians driving Rolls-Royce, spending money like American billionaires, on public funds. Hypocrites.
.

Very insensitive set of people.
I am not sure the present FG has an economic team for proper advice and if they do....they are not doing their job or the government is not listening to them.
The minimum wage by now should be in the mould of 300k if they want to truly want to implement these tax reforms.
Also they need to make the judiciary a real stand alone so that business can. Be protected.
Lastly governance is needed. Governance with leadership.

Na why I dey always respect OBJ despite his own demons too
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by CodeTemplar: 8:51am On May 13
PlasmaTV:
Every sane person except Tinubu knows this.
Tinubu is hell bent on creating problems for the incoming government by borrowing monies that he can't repay soon.

A first class accountant in deed.
Even if that was his intention, the likes of Aregbesola, El Rufai and Buhari successful executed it.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by DatNiggaDaz: 8:52am On May 13
grin grin

An empty appointee of a faaaake certttifficcate hollldderr
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Elusive001: 8:55am On May 13
ZombieTERROR:
Borrowing and taxation is Tinubu main policy


Kick this man out before he buries this country
So with the enormous natural resources in Nigeria, Tinubu does not know how to generate income except borrowing and taxation? My GOD!!!!!!
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by dederocs(m): 8:56am On May 13
Lush100:
.

Very insensitive set of people.
I am not sure the present FG has an economic team for proper advice and if they do....they are not doing their job or the government is not listening to them.
The minimum wage by now should be in the mould of 300k if they want to truly want to implement these tax reforms.
Also they need to make the judiciary a real stand alone so that business can. Be protected.
Lastly governance is needed. Governance with leadership.

Na why I dey always respect OBJ despite his own demons too
Very evil, it is beyond insensitive. A government that gave hundreds of millions for each politicians to buy vehicles, the cost of the automobiles they use alone is up to N50billion naira, you know what that will do for empowerment schemes for the poor across Nigeria?

in a country where almajiris roam free begging and turning to terrorists while others are in IDPs, in a nation where minimum wage is N70,000, in a nation where there is no empowerment scheme. Very evil people. They give nothing to the people, not even security, the basics, now they want to collect our hard earned money, which they didn't support us in making.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by ElevationD: 9:09am On May 13
Another evidence that Obi has always been right.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Ahmeduana(m): 9:12am On May 13
But should tax the hell out of it citizens!!!
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Reference(m): 9:19am On May 13
Mr. Oyedele.
The only reason politicians walk free is because of their ability to borrow and not trouble the masses directly.

The moment they will want to depend on taxation alone and think they will wrangle the necks of Nigerians to be spending anyhow, stealing massively and wasting on frivolities, then even you will not be able to walk the streets.

It is then you will clearly understand what governance and accountability is all about. The people in government know what they are doing. Borrow to do as they please now and hope to tax us to repay after the 2027 elections. Nigerians are waiting.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Reference(m): 9:36am On May 13
dederocs:
Very evil, it is beyond insensitive. A government that gave hundreds of millions for each politicians to buy vehicles, the cost of the automobiles they use alone is up to N50billion naira, you know what that will do for empowerment schemes for the poor across Nigeria?

in a country where almajiris roam free begging and turning to terrorists while others are in IDPs, in a nation where minimum wage is N70,000, in a nation where there is no empowerment scheme. Very evil people. They give nothing to the people, not even security, the basics, now they want to collect our hard earned money, which they didn't support us in making.
What Mr. Oyedele doesn't realize is that borrowing is the only way government can do the irrelevant things Nigerians did not ask for. So to depend on taxation is to put an end to white elephants..

Taxation is basically a subscription to government services. It is the bill a citizen pays for the services he expects to get. Now who subscribes for what he does not want. Who pays for goods he did not order for.

When government drives tax it should understand that it is opening it's ass for scrutiny. I don't have light, I don't have water, my neighbourhood is untenable, I am paying cut throat prices for gasoline and you delivery to me a roundabout, a flyover or an amusement park....are you not asking for trouble...

That is why Mr. Oyedele, they prefer loans for now. They simply cannot deliver good, people centric governance.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by tishbite41(m): 9:41am On May 13
osuofia2:
You didn't get his message, he is indirectly telling you to brace up for more tax. Read between the lines.
He is been sent to pass a message on taxation
Tilumbu doesn't need to send any cryptic message
He'll increase the taxes and nothing will happen
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by VeeVeeMyLuv(f): 9:58am On May 13
Bros you can't task empty pockets

This money you are looking for and targeting from tax is in the lepross fingers of our looting politicians.

That's were you should direct your focus .
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by dederocs(m): 10:02am On May 13
Reference:
What Mr. Oyedele doesn't realize is that borrowing is the only way government can do the irrelevant things Nigerians did not ask for. So to depend on taxation is to put an end to white elephants..

Taxation is basically a subscription to government services. It is the bill a citizen pays for the services he expects to get. Now who subscribes for what he does not want. Who pays for goods he did not order for.

When government drives tax it should understand that it is opening it's ass for scrutiny. I don't have light, I don't have water, my neighbourhood is untenable, I am paying cut throat prices for gasoline and you delivery to me a roundabout, a flyover or an amusement park....are you not asking for trouble...

That is why Mr. Oyedele, they prefer loans for now. They simply cannot deliver good, people centric governance.
All Nigerians pay VAT, all bank users pay bank transfer charges etc...
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by kentokay71: 10:59am On May 13
So you know why Edun was sacked by tinubu,na wah for people on social media
LagosOrigin:
The same thing that wale edun was telling tinubu that made tinubu to sack him

Tinubu hates the truth and he knows anything apart from looting and destroying our country

Nlfpmod
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by ViceGovernor: 11:24am On May 13
Someone said this dude 😎 is about to resign in the next 2 months for health reasons..... hahaha 🤣😂
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by bdon123(m): 12:42pm On May 13
So u wanna tax d hell outta people u provide nothing for?
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by ufotunang: 12:52pm On May 13
tishbite41:
Tilumbu go soon pursue this one like he did to Wale Edun
grin grin grin
Cho cho cho without workings
..the man is saying the truth
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by ufotunang: 12:54pm On May 13
AMINDA:
Has he told Tinubu this? Why tell us?
..he is afraid of telling Tinubu
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by Ebydeb: 12:58pm On May 13
It is not the poor masses that are borrowing but tinubu. So channel the message to him.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by oloriokonbowa: 1:00pm On May 13
Then let's tax the people to death
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by joefelin2345: 1:02pm On May 13
Bobloco:
https://punchng.com/nigeria-cannot-borrow-its-way-to-development-oyedele/Please
I am very , very sorry for you ooo. Better be very careful. One of The Laws of Power says ...Never try to over shine your master!!! I come in peace ooo.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by nairalanda1(m): 1:09pm On May 13
Reference:
What Mr. Oyedele doesn't realize is that borrowing is the only way government can do the irrelevant things Nigerians did not ask for. So to depend on taxation is to put an end to white elephants..

Taxation is basically a subscription to government services. It is the bill a citizen pays for the services he expects to get. Now who subscribes for what he does not want. Who pays for goods he did not order for.

When government drives tax it should understand that it is opening it's ass for scrutiny. I don't have light, I don't have water, my neighbourhood is untenable, I am paying cut throat prices for gasoline and you delivery to me a roundabout, a flyover or an amusement park....are you not asking for trouble...

That is why Mr. Oyedele, they prefer loans for now. They simply cannot deliver good, people centric governance.
Yet when I say the above, in your mind, I am supporting government.

Apparently, you Nigerians are of two minds.

Good comment anyways.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by nairalanda1(m): 1:12pm On May 13
dederocs:
All Nigerians pay VAT, all bank users pay bank transfer charges etc...
VAT as at last year, raised 7.9 trillion naira for this year's budget.

Bank charges at best...raised 4 trillion for this year's budget

(Above are figures for 2025)

Our budget for this year was 54 trillion naira. Income tax uptake is still below 44% of the population (which is even an overestimate)

All those bank charges and VAT can't raise much for anything.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by nairalanda1(m): 1:13pm On May 13
oloriokonbowa:
Then let's tax the people to death
You people don't want tax, yet you want a budget that would meet all your needs, from oil revenue that never reaches 100 billion dollars per annum.

Nigeria needs something like over 500 billion dollars in revenue before we can get a decent budget. There is where your apc has failed.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by dederocs(m): 1:53pm On May 13
nairalanda1:
VAT as at last year, raised 7.9 trillion naira for this year's budget.

Bank charges at best...raised 4 trillion for this year's budget

(Above are figures for 2025)

Our budget for this year was 54 trillion naira. Income tax uptake is still below 44% of the population (which is even an overestimate)

All those bank charges and VAT can't raise much for anything.
If our resources are optimised, refining all our crude in Nigeria and harnessing and processing all our raw materials, our budget will be about N200 trillion, we have bad managers, focused on spending on frivolities like Rolls-Royce, Maybach benzes, overseas villas, and wasting money on politicking, instead of investing in factories machineries, and contract private management to manage them etc. Our political class is the problem, they are in office for the wrong reasons and they waste the revenue that could have been invested.

Our politicians are living more lavish than American politicians, a country whose GDP is a million times higher than ours...I have never seen a minister of any country in the world drive a Rolls-Royce or use a Maybach S class exclusive, like we see in Nigeria...those are for billion dollar men not lazy politicians.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by WhizdomXX(m): 2:58pm On May 13
Yampotatocarrot:
It seems this guy's BSc, MSc and PhD were done in taxation... Na only tax him brain dey reason

Seems people didn't read the news, he's saying borrowing cannot help and proposing taxation as the way out
Ajeh.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by nairalanda1(m): 3:44pm On May 13
dederocs:
If our resources are optimised, refining all our crude in Nigeria and harnessing and processing all our raw materials, our budget will be about N200 trillion, we have bad managers, focused on spending on frivolities like Rolls-Royce, Maybach benzes, overseas villas, and wasting money on politicking, instead of investing in factories machineries, and contract private management to manage them etc. Our political class is the problem, they are in office for the wrong reasons and they waste the revenue that could have been invested.

Our politicians are living more lavish than American politicians, a country whose GDP is a million times higher than ours...I have never seen a minister of any country in the world drive a Rolls-Royce or use a Maybach S class exclusive, like we see in Nigeria...those are for billion dollar men not lazy politicians.
I'm afraid to say that optimising our revenue still won't yield much for we country.

We produce less.than 2m.bpd. Unless oil.remains above 150 dollars.per.barrel for the whole.year,.nothing will.happen. Revenue would be chronically low. Corruption would still.chop.

Nigeria needs to do.what the big nations do. Oil.no.go.save.us
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by 1vandragon: 4:20pm On May 13
AguluLiar:
You go soon wail into oblivion
Let those who care for a better country wail for a positive change.

Those of you that are cavorting with sores, blisters and abcesses in the incompetence and filthy mess that is bat and his administration are also free to do so till eternity. Enjoy your misery.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by dederocs(m):
nairalanda1:
I'm afraid to say that optimising our revenue still won't yield much for we country.

We produce less.than 2m.bpd. Unless oil.remains above 150 dollars.per.barrel for the whole.year,.nothing will.happen. Revenue would be chronically low. Corruption would still.chop.

Nigeria needs to do.what the big nations do. Oil.no.go.save.us
Let's not loose sight of the context, my point is, taxing Nigerians won't change nothing, due to the extreme high rate of public funds stealing and leakages, this won't stop, because nothing is being done to stop it.

The argument is not about what is needed or required, with this bad management, even 300 trillion will be squandered. Don't miss the point.
Big nations do not condone public sector stealing, they put in mechanisms to halt it.

It is dumb to assert that corruption will stop because Nigerians will demand for more accountability when they pay taxes...Nigerians are demanding accountability now, but the rogue politicians don't care about Nigerians...the huge difference between what civil servants earn and what senators earn will show you how evil and rigged the system is to favour only the political class...no other country in the world has such difference in wages between senators and civil servants.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by AguluLiar: 5:30pm On May 13
1vandragon:
Let those who care for a better country wail for a positive change.

Those of you that are cavorting with sores, blisters and abcesses in the incompetence and filthy mess that is bat and his administration are also free to do so till eternity. Enjoy your misery.
Na lie!

Na presidency dey hungry you.

Come January 2027, your dumb candidate will be disgraced and you will wail and gnash your teeth
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by 1vandragon: 6:35pm On May 13
AguluLiar:
Na lie!

Na presidency dey hungry you.

Come January 2027, your dumb candidate will be disgraced and you will wail and gnash your teeth
Keep going berserk over the incompetent bat. He can be there till eternity. And you would still be giving yourself headache trying to justify his incompetence and lies.
Re: Nigeria Cannot Borrow Its Way To Development – Oyedele by femi4: 7:12pm On May 13
Tell your boss
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