₦airaland Forum

BlackTechnology:
I disagree with you.


Pls mention other diversified products we export to get dollars.

BlackTechnology:
You want to tax an economy filled with lots of poor people and struggling businesses.

iaatmguy:
checkmate, annihilate corruption, scrap overlapping agencies, reduce cost of governance before you talk of further impoverishing the masses all in the name of taxation and lets see where we would be

bossmini84:
Who are the ones striking when ASUU, NMA, NUT all want salary increase. All civil servants, even the unemployed youth want financial benefits, where is the money the govt would channel to order sectors. Nigerians are the cause of their problems

kmariko:
Personally, Nigeria DOES NOT HAVE, issues with
a. Corruption
b.infrastructure deficit
c. Renters or bottle feeding economy
d.hunger
e.security.
f.bad leadership

What this great country has is structural deficit in the way the polity is made to function.
Create a uniquely Nigerian political structure that encompasses our varying cultures ( both political and economical) without copying other nation's system and watch these so-called problems fade away.

atlwireles:
Corruption will be better checked when people actually feel the direct impact of government cost. Just imagine 40 million Nigerians withdrawing monies from their bank accounts and paying taxes directly to FIRS yearly. Both the quality of our civil service and the people we elect will change overnight.

saintopus:
I think you are right. I am thinking in similar trend too. Corruption, I think in my own view is more of mental attitude. Development with time may shelve corruption lower.

atlwireles:
Do you have to export products for your economy to be diversified? I think not.

atlwireles:
if you don't tax the economy where are you going to get the resources to develop the state?

kmariko:
So maybe OPEC does still matter. After deciding to keep its production levels unchanged at 30 million barrels a day and triggering Friday’s nearly 10 percent selloff, the cartel proved it can still cause huge swings in oil prices‐even if it’s in the opposite direction that most of its members wanted to see.

Iran, Iraq, Libya, and Venezuela were all hoping for a cut of at least 1 million barrels to keep prices from going lower. Citibank (C) analysts estimate that the world is producing about 700,000 barrels a day more than total demand requires. With international oil prices below $70 for the first time since 2010, most OPEC member countries will have trouble keeping their budget deficits in check. According to an estimate by Goldman Sachs (GS) last month, only Kuwait, the UAE, and Qatar are safe below $70.

OPEC’s idea is to try to knock out U.S. shale producers by driving prices lower than they can afford. That way Saudi Arabia, the cartel’s biggest exporter, can keep its market share in the U.S. But the damage to its fellow oil exporters could be severe. In Russia, for example, the ruble is plummeting. Iraq is already having trouble fighting ISIS, and lower oil prices won’t help. Libya is in chaos. Venezuela’s economy, already on life support, depends on oil for 95 percent of its export revenue. Iran’s oil minister on Friday told Bloomberg News that he has doubts the strategy will even work: “There’s no fact or figure to say that shale production will definitely decrease,” he said.

Story: At OPEC Meeting, Saudi Arabia Stares Down Texas and North Dakota

U.S. production probably will decrease, even if it takes a while. At $65 a barrel, it’s unlikely the U.S. can keep up its record-setting pace of expanding oil production. U.S. oil has jumped from about 5 million barrels a day in 2008 to more than 9 million. Even before OPEC’s decision, forecasters were calling for a slowdown. Last May, for instance, the Energy Information Agency forecast that total U.S. production would peak just shy of 10 million barrels per day before 2020.

By Matthew Philips December 01, 2014
http://www.businessweek.com/articles/2014-12-01/

BlackTechnology:
For us to enjoy an import economy, we must balance our export strength .


Otherwise

We develop an economy that imports little if we want to export little.

BlackTechnology:
Before taxing the economy , you must cause an economic boom which will make it easier for people and businesses to pay taxes.


For example it is easier to task Lagosians because of high economic activities than On do because of low economic activities.


So boom the economy before taxing the economy.

atlwireles:

How does one create an economic boom? before you can tax it? Why can one tax the people in Lagos and Potharcourt and not Kano and kaduna?

If you want development, you will learn how to pay for it. Based on your submission here, Nigerians like yourself, are not ready to leave the poverty zone.

BlackTechnology:
Good question


Create policies and programs that will

A) put money into more peoples hands

B) reduce the money leaving peoples pockets.

.
Comrade let's discuss without insults.

BlackTechnology:
atlwireles


Before independence, the British built railways to help transport Arewas groundnuts and cotton.


Because of demand for groundnuts , Arewa farmers made so much money that they were able to buy more foreign goods as well as pay taxes.


Let's create policies and programs that will put money into peoples pockets or reduce the money leaving peoples pockets.

atlwireles:
I want you to lay down policy, as regards to government funding and oil prices and the Nigeria economy in General

How are you going to put more money in people's pocket?

No insults intended.

BlackTechnology:
Thanks for being willing to discuss without insults


Yes you asked a good question about how can we fund our government without depending on oil money.?


Well I agree with you that taxes will play a lot of role but we must first boom the economy before doing that.

These are few things government can do.


1) Find a means to help businesses cut down the cost of doing business which might decrease the cost of their products leaving more money in peoples pockets which will make it easier for people to pay taxes.

2) Find a means to help expand the customer base of businesses by making more money enter into peoples pockets.


HOW CAN POINT (1) BE ACHIEVE

a) Electricity, Roads, rail, and water are basic infrastructure lacking in Nigeria which cost businesses so much to provide themselves.

b) Make available abundance of agricultural, mineral resources and their processed forms. This can be achieved by making sure that at least 20% of every local government or state land is utilized for agriculture. This will transform at least 180000sqkm of our total land mass to agricultural fields.
Place 25% derivation on all natural resources and 50% derivation on all processed natural resources in other to encourage states participation. This will help flood our industrial markets with cheap natural resources or processed natural resources.

atlwireles:
You have solutions that cost money, yet you are not telling me, how you intend generating all these monies. The only part of the economy that is going to shrink within the next 12 months is the crude oil sector. Manufacturing, farms produce and services will expand by at least 6.5%.

Yet, you seem dead set against taxing the productive sector of the economy, even as you have a list of items, you want to put in place.

Electricity, Roads, rail, and water are basic infrastructure and they cost billions of dollars, how are you going to pay for all theses, without an across the board tax policy.

BlackTechnology:
Good question

But first read the my conclusion which I just added.

Also I am not against tax but I insist the government should stimulate the economy before taxing the economy.


As for your question of how I believe government can finance these things.

We have over $30billion in our reserve. If some of this money can be used prudently, we would breakout in years to come.

Remember

Germany came out of WW2 penniless but prudent economic policies with the aid of the marshal plan helped them recovered quickly .


Just assume we just ended a war and over $30 billion is our Marshall plan fund.

atlwireles:
Germany came out of WW2 penniless, but was a world leader in technology before and during the war. Also the world largest economy at that time opened up its bank account to help refinance the New Germany. But public and private

Nigeria needs about $30 billion yearly in infrastructural spending, to bring our economy into overdrive within the next 10 years. After you exhaust what we have in the reserve now and, you deal with the unintended consequences. Where are you going to get the next $30B. As things are today, we are spending about $10B yearly between states and the federal government in infrastructural spending. Yet most of us don't see or feel it, because it only makes a dent.

We have a $520B economy today, if countries like Kenya, South Africa and Ghana can live with a tax burden of 19%-30%, so can we. Put in place a 20% across the board tax policy in Nigeria, government will generate about $75B yearly, Nigeria will be less affected by oil prices and the future funding of projects will be more certain. No economy grows on a 3% tax collection . Unless your goal is to create a nanny state.

BlackTechnology:
There is nothing wrong in taxing big businesses.


But do you think it is good to task a person earning #20000 from his job/business especially in an economy were basic things like housing education and health care are expensive.?

Be realistic with your answer.

atlwireles:
If you cannot pay taxes on your 20,000, don't complain about government services. Nigeria will not be built by men from mars.

BlackTechnology:
Haba

OK

How much do you earn in a month.

atlwireles:
If you cannot pay taxes on your 20,000, don't complain about government services. Nigeria will not be built by men from mars. Most of the same people don't have a problem paying their 10% offerings in church.

BlackTechnology:
Hahahahaha


How many Christians pay their tithes regularly


If you go close to pastors and they reveal to you how Christians fail to pay their tithes regularly you will wonder how they survive


Guy people rarely pay tithes.

atlwireles:
you have to ask FIRS that question.

BlackTechnology:
Do you pay tithes regularly .?

atlwireles:
Seeing is believing, look at Nigerian churches, the opposite is the case.