₦airaland Forum

989900:
What is the GDP contribution of oil to Nigeria's economy?

What is the contribution of oil to the national purse?

Are you aware there are oil producing states in boththe SW and SE?

Which state are you from?


P.S.You mentioned Cameroon, LOL, be thankful to Nigeria, by now the Cameroonians would have re-colonized you lot.

989900:

blackpanda:
Lagos has oil. OP pls rest!

Amberon11:
Lmao! I thought you were sensible, I was obviously wrong!
No sane person would ask the bolded. Really nigga! You must be in a cave or something to ask that question. Oil is nothing but y'all want to die on oil. Even a lunatic knows that the SS alone produces over 80% of Nigeria's crude and before now, crude oil accounted for about 93% revenue and export.
the whole of SE produces less than 2%
Not sure of the actual figure of that of SW for now.
Of Course Cameroon can buy the SW. Mind you, every single state in the SS is self sufficient unlike the SW.

SWG25:
You have nothing to say. By the way, The total cost of the bridge was about 2.5 billion naira. Which should be equivalent to about 400 billion naira today.

kernel501:
Which school graduated you? Imagine what a dumeee you are, after using Oil money to build port, you start claiming ownership.

989900:
Lagos' contribution to the national purse via tax alone, is 'farrrr' greater than the contribution of all 19 northern states put together, yet, no one is chest beating. Not to mention other plentiful revenue sources

QuotaSystem:
Don't start sounding like iPods already.

Who pays the taxes? Who are the wealthiest businessmen in Lagos? Do you know how much the trio of Dangote, BUA and Dantata among others pour into the Lagos treasury as tax and other charges?

Let's not go down this lane.

omonnakoda:
Lets go there because your statement is very suspect. You pay tax in a jurisdiction based on earnings in that jurisdiction. To say Dangote pours money into Lagos is one of the dumbest things ever.Does he repatriate money into Lagos from Kano.It is just like saying Shell or Mobil pay tax in Nigeria. Are they doing Nigeria a favour?

SuperS1Panther:
OP you are a learner.

3MB was built from Corporate Tax, revenue generated from the international airport, ports and border posts on our soil.

Try harder.

SW remains the the Financial capital of West Africa and probably even Africa.

SW produces the highest cement in Africa.

SW is hosting the highest number of multinationals in West Africa.

SW has the highest number of Universities in Africa.

SW produces oil,

SW has bitumen deposit.

SW is the home of entertainment in Africa.

SW produces both food and cash crop, with good land for animal husbandry.

SW is the home of fish farming.

The only UNESCO World Heritage Centre is in SW.

SW is simply the capital of West Africa.


You can hold the other parts of Nigeria into ransom, definitely NOT SW. Let Regionalism start and you will see the difference between light and day.

kernel501:
Which school graduated you? Imagine what a dumeee you are, after using Oil money to build port, you start claiming ownership.

SWG25:
If Lagos can afford it, then why hasn't such a massive infrastructure been replicated in Lagos? Remember that Lekki bridge was privately funded. You guys are funny

QuotaSystem:
There's no use for invectives in a sane discussion.

Dangote's core business is cement production, as well as rice/pasta/cereals etc., which he sells nationwide across 36 states to earn revenue and pays taxes to Lagos, which is where his business is domiciled for purely strategic reasons. None of his cement production plants are in Lagos, but are all scattered across the North.

Does Dangote generate all of his income from Lagosians alone? What then is the basis of your assertion? Northern businessmen are among the most significant contributors to the Lagos economy, so you should all refrain from uttering derogatory statements devoid of facts.

QuotaSystem:
There's no use for invectives in a sane discussion.

Dangote's core business is cement production, as well as rice/pasta/cereals etc., which he sells nationwide across 36 states to earn revenue and pays taxes to Lagos, which is where his business is domiciled for purely strategic reasons. None of his cement production plants are in Lagos, but are all scattered across the North.

Does Dangote generate all of his income from Lagosians alone? What then is the basis of your assertion? Northern businessmen are among the most significant contributors to the Lagos economy, so you should all refrain from uttering derogatory statements devoid of facts.

omonnakoda:
You are ignorant.This is an oft repeated fallacy.
What is MY ASSERTION? Please clarify what I have asserted?
Company Income Tax in Nigeria is payable to the Federal government. Whether Northern Businessmen pay 100% of tax in Lagos is irrelevant. We are not discussing ethnicity of businessmen but viability of the state.
I am not joining issue on that but they do not pay tax in Lagos on monies earned elsewhere. Even with that they do not pay profit tax in Lagos.This is a residual matter. They pay the tax of their EMPLOYEES that are RESIDENT in Lagos State and other operational levies that are within the purview of states e.g land use ,tenement and so on. OIL COMPANIES ARE EXCLUDED from companies income tax and have a special arrangement again paying to the FG

This illusion of domiciling is not relevant or applicable in Nigerian law. The relevant law is the Companies Income Act 2004

Amberon11:
[s]Lmao! I thought you were sensible, I was obviously wrong!

No sane person would ask the bolded. Really nigga! You must be in a cave or something to ask that question. Oil is nothing but y'all want to die on oil. Even a lunatic knows that the SS alone produces over 80% of Nigeria's crude and before now, crude oil accounted for about 93% revenue and export.

the whole of SE produces less than 2%
Not sure of the actual figure of that of SW for now.

Of Course Cameroon can buy the SW. Mind you, every single state in the SS is self sufficient unlike the SW.[/s]

Amberon11:
[s]you don't just get it do you? How much does Lagos State remit to the federal government?
Lagos state revenue isn't being shared or used to feed the nation. [/s]

If Delta or Rivers or Akwa Ibom had to keep all their revenue, it would be Paradise when compared with the rest of Nigeria. [s]We arent talking of IGR here. And of course the reason Lagos has a higher IGR is cuz most of its revenue is gotten from taxation of those oil companies whose head quarters should've been located in the ND but for our clueless government who would rather situate everything in the already overcrowded Lagos[/s].

omonnakoda:
[s]You are ignorant.This is an oft repeated fallacy.
What is MY ASSERTION? Please clarify what I have asserted?
Company Income Tax in Nigeria is payable to the Federal government. Whether Northern Businessmen pay 100% of tax in Lagos is irrelevant. We are not discussing ethnicity of businessmen but viability of the state.
I am not joining issue on that but they do not pay tax in Lagos on monies earned elsewhere. Even with that they do not pay profit tax in Lagos.This is a residual matter. They pay the tax of their EMPLOYEES that are RESIDENT in Lagos State and other operational levies that are within the purview of states e.g land use ,tenement and so on. OIL COMPANIES ARE EXCLUDED from companies income tax and have a special arrangement again paying to the FG

This illusion of domiciling is not relevant or applicable in Nigerian law. The relevant law is the Companies Income Act 2004
Lagos has the largest population and its tax base is individual PAYE and other tax levied on the millions of people who enjoy the PRIVILEGE to earn their daily bread in Lagos[/s]

kernel501:
Which school graduated you? Imagine what a dumeee you are, after using Oil money to build port, you start claiming ownership.

QuotaSystem:
You're the Ignorant one here mate.

Is VAT a Lagos State TAX You are confused.

omonnakoda:
The port was not built with oil money. I refer you to the Colonial reports on Lagos in the 1890s. Before 1900. There was a telephone link from Lagos to London ,there were trains in Lagos and there were street lights. The British built the port in Lagos before 1900 and expanded it before 1945.
http://libsysdigi.library.illinois.edu/ilharvest/Africana/Books2011-05/3064634/3064634_1898_lagos/3064634_1898_lagos_opt.pdf
The port in Lagos has been a net contributor to the British and then Nigerian purse for over 120 years

OAUTemitayo:
the British did not build any f.cking seaport in Lagos. The money used for the construction of the seaport was sourced from taxes generated in Lagos from hardworking Yoruba people not any ph.ucking British money

omonnakoda:
You can try to bamboozle others with the well known diversionary tactic of overloading them with irrelevant information.
So let us get back to what we are contending. Is it the states or the FG in Nigeria that receives company income tax .YES OR NO?

Does DOMICILING a company in a state in Nigeria have ANY IMPACT whatsoever on the taxes it pays ..That is the issue here not the cost of doing business in Lagos.
Is VAT a Lagos State TAX You are confused.
If cost of doing business in Lagos is the issue then we are talking of companies DOING BUSINESS in Lagos and not domiciling so stop the diversion and admit that you were wrong.
Domiciling is irrelevant.
Employee contributions,and all the other social security nonsense you posted will not apply if the company is just "DOMICILED" and the employees are not resident in Lagos.
Bottom line Lagos Taxes people,( HUMAN PEOPLE adarihun) who live and enjoy the PRIVILEGE of earning a living IN LAGOS

QuotaSystem:
Don't start sounding like iPods already.

Who pays the taxes? Who are the wealthiest businessmen in Lagos? Do you know how much the trio of Dangote, BUA and Dantata among others pour into the Lagos treasury as tax and other charges?

Let's not go down this lane.

Subway1011:
Another illiterate, which oil money build Lagos port? Buhahahahahaha. This one is bleeping ignorant. Jeeez

OrlandoOwoh:
The seaport in Apapa was built long before the discovery of crude oil.

kernel501:
The reason people go to school is to learn, and stay away from ignorance. If you do not know, learn this today, the refineries, and the ports were built from oil royalties. Lagos port was built in 1963, while exploration of oil started in the 50s. For more informations check...
https://en.m.wikipedia.org/wiki/Nigerian_Ports_Authority

OrlandoOwoh:
You're ignorant of what you're trying to say. The land in Apapa on which the port is built was taken from Chief Tijani, the Oluwa of Lagos in the early 1900's by the colonial government after they felt that the naval dockyard in Marina couldn't handle many ships. The port has been in existence since then. In the past those that couldn't afford travelling to Europe and the US by air, went through sea at the Apapa port.

You ignorantly mistook the founding of the Nigerian Ports Authority to be the birth of the seaport in Apapa, Lagos. Let me ask, FIFA was founded in 1904, does that mean that before 1904 nobody played football? Nollywood came into existence some 20 years ago, does that mean films were not produced in Nigeria before then? You're too ignorant.

kernel501:
You can as well tell me that the track part from Benin kingdom to Eco of the old is the same, that the FG didn't build it, since there was a track part.

OAUTemitayo:
the British did not build any f.cking seaport in Lagos. The money used for the construction of the seaport was sourced from taxes generated in Lagos from hardworking Yoruba people not any ph.ucking British money

kernel501:
The reason people go to school is to learn, and stay away from ignorance. If you do not know, learn this today, the refineries, and the ports were built from oil royalties. Lagos port was built in 1963, while exploration of oil started in the 50s. For more informations check...
https://en.m.wikipedia.org/wiki/Nigerian_Ports_Authority

OrlandoOwoh:
Privately funded or PPP?