IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians - Politics (4) - Nairaland
Nairaland Forum › Nairaland General › Politics › IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians (17774 Views)
Poll: Which of these outcomes do you prefer?
Peter Obi should become the president and end hardship. I don't care if he releases Nnamdi Kanu
81% (464 votes)
I'm Yoruba, so I want Tinubu to continue, even if it'll warrant governing our corpses. Tinubu is incompetent and a massive failure, but I'll vote him
10% (58 votes)
Atiku should not govern even if he's competent, because it's the turn of the south
8% (50 votes)
This poll has ended |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by malakaimoscondo: 3:44pm On Jun 14 |
Ofunaofu:obi tax policy wil b death penalty if he wins |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Reference(m): 3:46pm On Jun 14 |
WriterX:Just the summary of everything. Thank you for deep thinking like this. These additional taxes are nothing but inflationary. They look at only one side Yes it will increase GDP by 4.6 percent but what will inflation do to that projected GDP rise.... draw it down again. At the end nothing is achieved, government revenue receipts will still remain poor as people further cut their expenses on even these basic services. And you are absolutely correct. Telecoms have been a massive subsidy for high transportation costs. People are increasingly substituting physical appearances for meetings, social events, educational programs, etc; with communication driven technology. I was speaking with an interstate transporter a couple of weeks ago who intends to return his vehicle and free himself from the operate to purchase contract because he just cannot meet up. Passenger numbers are drastically down due to the two evils of inflation and insecurity. I just do not understand why the government cannot put the horse before the cart AND PRIORITIZE WHAT WILL raise personal and business income levels. What will make for productivity rather than killing it. It is a terrible vicious cycle. The more people are put out of work and the more business fold up, the more consumption falls. And with all that, the less taxes revenues will be realized by government. Meaning they will have to keep on raising and raising and raising rates just to maintain a certain collection. That is classic stagflation. And it is a terrible place for an economy to be in. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by dauntless15(m): 3:46pm On Jun 14 |
We're dead, that is this one is not enough yet? |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by givedemwotowoto: 3:47pm On Jun 14 |
nairalanda1:Fight corruption first. The economy is struggling, raising taxes will reduce the people's purchasing power and slow down the economy further, which could lead to more borrowing. Before asking people to pay more, focus on reducing waste and blocking leakages. Fight corruption fiercely first. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Mandate1: 3:50pm On Jun 14 |
nairalanda1:you are bent on taxation and never care to talk about the main reason we keep borrowing. Why do we need over 400plus legislative members? Why do we need to budget billions for their cars anually? The main cost of governance is taken up by less than 10,000 people. This is where the main problem is. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by richeeyo(m): 3:51pm On Jun 14 |
This what i keep saying about Nairaland Na one mad mod dey create this tribalistic poll Mod GOD go punish you and seun wa turn nairaland to trash |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by OredoPikin: 3:52pm On Jun 14 |
Misterone:U guys have said this countless times and we have heard u loud and clear. But now, we cant simply continue with Tinubu. We all will die |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Mandate1: 3:52pm On Jun 14 |
nairalanda1:why are they borrowing debts that are not sustainable? Tinubu removed subsidy yet had borrowed more than those that paid subsidy. Borrowing trillions to build a coastal road we do not need. All states in Nigeria are already connected by FG roads, why then do we need a coastal road? |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Skullminers1: 3:53pm On Jun 14 |
Misterone:You people will keep making Peter Obi even if you people have tailed erection or can't impregnate your wives. Peter Obi did wonders in Anambra state during his tenure that was the reason Anambra state is fast developing and also he left Billions of Naira to Willie Obiano who unfortunately embezzled the money which was why EFCC haunt him down immediately he hand over to that talkative that calls himself Charles Soludo Nwamgbeafor. So dont choke to death because of Peter Obi |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Jorussia(m): 3:56pm On Jun 14 |
jaxxy:The govt stopped collecting VAT on fuel over 2 years now |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Fujiyama: 3:57pm On Jun 14 |
UncleAyo:^^^ ![]() |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Reference(m): 3:58pm On Jun 14 |
givedemwotowoto:And prioritizing expenditure to what is critically needed for national survival. Not wasting scarce tax naira on bogus recurrent expenditures even if they are legal, or bogus capital projects even if they are appropriated. People who earn millions in government cannot be the final arbiter of how we spend our money as a nation because they do not feel anything. Their salaries are paid by the public, their business is politics so they do not KNOW or FEEL the effects of their decisions on the real economy. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Hangulsaram: 3:58pm On Jun 14 |
Misterone:Did you see Obi's in the writeups or you just hate the man and Good thing |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Dalohad: 3:58pm On Jun 14 |
Every sane country have stopped listening to those devil incarnates in IMF. None of their policies have ever been designed to uplift Africans from poverty. They encourage the taxation of poverty, so that people can die off as part of their population control measures against Africa. No wonder Burkina Faso threw them out of their country. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Jorussia(m): 4:00pm On Jun 14 |
Mandate1:Some of u are so dull that I wonder if u take time to ever research in your life.Nigeria has never been a wealthy nation and as such we the citizens expect miracles that will never happen.In 2027,no matter who becomes president, another brave unpopular economic decision must be taken with regard to power distribution and taxation. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Omalicious1: 4:02pm On Jun 14 |
FuglyGurl:While we watch with keen interest, it's important for Nigerians to brace up for impact because once BAT secures second term, hmmmm |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by PigTormentor: 4:03pm On Jun 14 |
Misterone:Don't mind these clowns. They think that everyone is as shallow as them. Obi was a failure and will be even worse as a president. The Agulu fraudster lacks basic economic understanding. Simple economic theory of what he Will differently he can't explain. These people will make all sorts of excuses for his incompetence. They are just desperate for an Igbo president. Nothing more. Don't be fooled. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Reference(m): 4:03pm On Jun 14 |
Mandate1:Ask me, they will say it is hate. Left the investment in electricity that will reduce cost of living and spur business to invest in a road that will help just a small fraction of citizens. Had it been a private enterprise, fine. Had it even been a PPP so the cost can be spread out over decades, no. They want it now and are collecting hot cash for executing it. Who does that. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Shimmaa: 4:04pm On Jun 14 |
He should not forget to impose tax on the air we breath too |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Dancebreaker: 4:06pm On Jun 14 |
APCheat:IMF only aims to deepen poverty in developing countries. They should just stop the double-speak. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Ashalom: 4:10pm On Jun 14 |
IMF and Nigerian Government na 5&6. Right from Structural Adjustment they advised Babagida to devalue our previous Naira the economy has been on decline and dey will stop at nothing till all Nigerians are brought to their kneel. The suffering of Nigerian citizens is nothing to them. Look how weak our institutions have been it's clear they are clearly behind it. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by nairalanda1(m): 4:16pm On Jun 14 |
Mandate1:Simple answer to this....we are a resource dependent nation, and the prices of whatever resource we sell are too low to fund our budget. Also, tax to gdp ratio is low for a nation our size. It is even lower than the African average Plus years of keeping subsides, and we still keep subsides on electricity....means that we keep running into debt as the cost rises Result...borrowing. The solution is...we improve tax revenue, we improve productivity (Obi suggested that in 2023) and we diversify our economy. It won't stop borrowing, but it would reduce it drastically. (TInubu not doing the above or even setting us on the road to doing the above is why you should not vote for him). |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by israelmao(m): 4:16pm On Jun 14 |
As much as IMF continues to be a lender it will as well continue to advise on implementation of some economic measures in order to recover it's debt from Nigerian government. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by oloriokonbowa: 4:18pm On Jun 14 |
The plan of imf is to make citizens of Nigeria poor by introducing crazy taxes. It only takes a daft government to believe them |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by nairalanda1(m): 4:19pm On Jun 14 |
givedemwotowoto:Well, not raising taxes is why we cannot fund the deficit, meaning borrowing occurs, meaning more debt, meaning the purchasing power still gets hurt anyway, and the economy struggles more. This has been happening for years. Decades. If not for our debt forgiveness in 2005, by now our debt would have been above 500 trillion naira or more, and we would have been poorer than we are now. We can also fight corruption too at the same time, or are you going to tell me you voted for Buhari in 2015 ? To pass on a quote from a certain online site...one can walk AND chew gum at the same time. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by Ofunaofu: 4:21pm On Jun 14 |
malakaimoscondo:Obi's tax policy is death penalty? Interesting. Nigerians don't need to imagine hypothetical suffering when they're already experiencing and living through the hell effects of current Tinubu policies. Rather than saying, Obi's tax policy is death penalty, take your time to explain Obi's actual tax proposals and let people compare them with what they're living through today. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by kaywhy09(m): 4:25pm On Jun 14 |
Very biased poll! |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by donself9: 4:27pm On Jun 14 |
[quote author=nairalanda1 post=139714830] Tinubu should listen to the IMF and do it, and if he doesn't , whoever is taking over should listen to the IMF and do it, alongside fighting corruptionIts of no use insulting since you know how Naive you sound, we are talking about Revenue isnt it laughable that IMF + TInubu + Nairalanda want to force us to believe our only option to generate Revenue is Tax & VAT increment whereas we have many resources yet we are a " Under producing Nation" .. Turkeye dont have the resources Nigeria has The question to Nairalanda .. Have we explore 70% of our resources ? Why are not looking into maximizing utilization of resources and industralization World fact as it No nation can Tax itself to prosperity, So why is IMF presenting Tax as an option to Growth & development People like to abuse me on this site and call me agbadoe, but if it was Peter Obi, or Atiku in charge, based on what I know, I would give them the same advice. We all shout that we want government to stop borrowing, but when it comes to measures to stop borrowing, we suddenly become allergic to good adviceStop being delusional, maybe you need to check yourself, you aint making sense .....You are so fixated on budget deficit, 4geting the main reason our budget deficit is widen is cos of excessive loan interest we must The problem is not your salary, if you are obsessed with loan sharks, no amount wil be enough expect you join kidnappers. Solution is cut down on loan 1st, 2nd step throw a national agenda that facilitate " productivity drive" .. Very crucial Look at our oil production, we are not meeting opec quota, thats is revenue loss The last time we hit 2m per barrel was under GEJ .. meaning we are not exploring enough Tinubu is a bad leader, and I am not voting for him next year, by the way. Nigeria has had this deficit problem for decades.omg ! You keep hammering on deficit, buh have you bother to check rate of budget implementation in the last 20yrs and most of allocated fund end up looted .... With all that " More revenue won't change a thing where their is no accountability & transparency And the 68 trillion naira is not enough for a nation of 230 million people. You can abuse me, but we are too big for the budget. And that budget is the money available before stealing and looting happens.No amount of water taps connected will ever fill a basket .. You can try it Either we start listening to the IMF and fighting corruption, as well as improving taxation, or else, even if we vote Obi tomorrow, as i hope we all do, or Atiku tomorrow, or even Sowore, I guarantee that our debt would be 800 trillion naira in eight years time.look around, All the nations that are to economical better, which one followed IMF playbook Is it Turkeye, china, indian or Dubai that IMF made them who the are today. Check all the countries following IMF like stooge they have one thing in common, under developed i will say it again Taxation is not road path to sustainable growth n developed, over 63millio Nigerians are below poverty line ... What exactly do you wan Tax except compound hardship nd the ripple effect is more SMEs will fold up Taxing a low productivity economic, stretched with hyper inflation and high umemployment will only will amount to know impact, what drives economic is "industralization/productivity " nd we have not explored that option even up to 50% |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by KonTagiousBull: 4:28pm On Jun 14 |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by MakindeHassan: 4:29pm On Jun 14 |
Why doesn’t IMF ever recommend cut in Senators allowances and vehicle purchases as a way to fund infrastructure? Every few years we spend Trillions buying vehicles for political office holders, senators, HOR, state house of assembly in each state, ministers, commissioners, governors and other posts. If we step down their car allowance we can save trillions too. |
| Re: IMF Asks Tinubu To Impose Fuel, Telecom Taxes On Nigerians by nairalanda1(m): 4:29pm On Jun 14 |
Chucks13:On the other hand, if tinubu does not follow IMF advice now, the economy will continue to fall. As for the money given to governors, that was enough to pay salaries on time. It isn't enough for anything else. Subsidy removal removed pressure on our already limited revenue. Or to put it this way, it improved available revenue, but it did not increase overall revenue. Thats why governors are not doing much. They have gone from struggling to pay salaries, to just being able to afford to pay salaries on time. If the NLC decides to really go on strike to force an increase in salaries, whala go start. The high prices of oil and the knock on effect is not helping matters. It does not matter who is president, if ya think that 68 trillion is enough for nigeria, you are in dreamland. That is why tinubu must listen to IMF, or our economy will be worsening And don't tell me wait till second term. Una think say the potential successors go allow tinubu to do hard touch in second term that will harm their chances? Seriously, APC is not facing reality, since 2015. |
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