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Nairaland Forum / Nairaland / General / Politics / FG Makes N909 Billion From VAT in 2017 (7537 Views)
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Re: FG Makes N909 Billion From VAT in 2017 by mapet: 10:33am On Jan 12, 2018 |
Statsocial:Desyner: :Lol you are right. I'm afraid it's not that simple. Except you both can back up your "population logic" with veritable stats........... Population is one of the advantages the Nigerian economy has that is under exploited. Why do you think investors especially comodity businesses looks towards countries like Nigeria? Why do you think for example Thailand rice mills which are fast loosing their revenues as export to Nigeria is almost being wipped out, are relocating those rice mills to Nigeria? Do you think if Lagos is just 5 million people, do you think Lagos can generate 10% of the current IGR? Think of how much Lagos generates from its high population - Land use charges, consumption taxes, License renewals, PAYEE etc? Why do you think Lagos have that monstrous weight to borrow like crazy to fund their infrastructure projects? Lagos does not have natural resources that commands commercial value to make a 5 million people economy that prosperous. Lagos thrives on commerce, and population is a major catalyst. |
Re: FG Makes N909 Billion From VAT in 2017 by mapet: 10:45am On Jan 12, 2018 |
Statsocial:Desyner: :Sometimes I wonder how far this nation would have gone if it was just SS/SE/SW-though they have their differences but they would have fared far better together than this current arrangement. When we pull our natural, human resources and intellectual worth together we would have been on cruise right now. South Africa might even ve a learner. I also try as much as possible to shy away from ethnically laced and not well articulated arguments like this. There is not guarantee that SS/SE/SW's cohabitation will serve better economic prosperity and peace. Pray tell, how is kidnapping, pipeline vandalism and violence in the south any different from Boko Haram in the North? The North you so deride is actually the food basket of the producing South. The not too long ago "tomato crisis" gave us an insight. Let me share a personal experience. I had an interesting conversation with a top NPA official on why our inland ports are not working, especially Warri, Calabar etc. After the man put me through the geographically arrangements of our waters, a major challenge many of these inland ports face today is security. Warri is a major crisis period. He said no ship will dare go south, when Warri waters are badly reputed for attacks by youths, pirates and cults. These numbers are skewed this way because on the balance we are more import oriented than export. If our agribusiness revolution hits an ante, you will see the pattern skewing and SE will be the least (if not for Oil, SS would have taken that position). SE/SS should get "house" in order and promote peaceful and enabling environment for business to thrive. This is what drives the numbers up for Lagos 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by Desyner: 10:47am On Jan 12, 2018 |
mapet:Typical textbook insight. Nigeria is one of Africa's poorest nation on a per capita basis. Investor come here because there is huge market and by proxy, profit to be made - population that goes to Abuja every 30 day is not a good or properly oriented one. We saw how the states were bailed out by the FG some 12-24 months ago. And that's because the populace is feeding on the FG instead of the FG being feed by the populace. In a developed and well oriented society, population is good but not in Nigeria, professor mapet. |
Re: FG Makes N909 Billion From VAT in 2017 by BruncleZuma: 10:48am On Jan 12, 2018 |
triple996: Dear gulliblette, Rivers State is not South East. 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by mapet: 10:53am On Jan 12, 2018 |
Desyner: Hi Desyner, Have you completed your NYSC yet? How is my submission different from the highlighted....... hmmn! I understand your limit 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by lastempero: 10:53am On Jan 12, 2018 |
Where is that money FG |
Re: FG Makes N909 Billion From VAT in 2017 by debolayinka(m): 10:57am On Jan 12, 2018 |
bloodmoneyspita: They contributed to the destruction of lives and property, which is monetarily incalculable. |
Re: FG Makes N909 Billion From VAT in 2017 by Desyner: 11:01am On Jan 12, 2018 |
mapet:After providing the food for the nation they earn alot. I have no problem with a man getting rewarded for his labour, what I have a problem here is the tax they pay. Take rice for example Nigeria used to need about N300B-N400B equivalent of forex to import rice some 3 - 5 years ago. Then came the rice revolution where foreign rice was replaced by local alternative largely from the north. Now my question is : where is the tax from the northern rice merchants? That's why I opinned that "they can pay tax but hardly do" |
Re: FG Makes N909 Billion From VAT in 2017 by Desyner: 11:10am On Jan 12, 2018 |
mapet:You asked why investors look towards Nigeria. Read your first post where you quoted me and statsocial again sir... mapet:From the above you are trying to say investors come to Nigeria because of population but I am saying they do because of market and profit opportunity. The market and profit opportunity exist because the govt share easy oil money and not because the populace are hardworking. It is on the strength of the fact that Nigerians aren't very hardworking nor productive that I don't buy your population based argument. The fact that you picked a portion of my comment and referenced it out of context says alot about your reasoning and education if you had any. Also of importance is the fact that you are quick to throw tantrums. |
Re: FG Makes N909 Billion From VAT in 2017 by HeyCorleone(m): 11:17am On Jan 12, 2018 |
What have they used the billions for? Smh. |
Re: FG Makes N909 Billion From VAT in 2017 by tbliss22(m): 11:18am On Jan 12, 2018 |
Wiseandtrue:Babe, u wicked o!! So u want bubu to eat injected apple abi? There is God.... 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by tbliss22(m): 11:25am On Jan 12, 2018 |
debolayinka: What the Fulani's and Boko haram guys fails to understand is that, they are simply degrading their human and capital strength. You can just imagine Lagos state alone generating 55% of the entire country's tax, what a big shame to the northerners. All you see them do is to flock Lagos streets with their begging prowess alongside some of them riding motorcycles. Finally, bubu should look for a way of reorientating his people to wake up from their slumber, time waits for nobody. Should in case the country divides, the far northerners will really end up drinking their pee due to high level of poverty.... |
Re: FG Makes N909 Billion From VAT in 2017 by BLSYNG: 11:48am On Jan 12, 2018 |
Statsocial:I was actually moved by what you wrote up here. Left for these three regions you mentioned, Nigeria's visa would have been a hot cake. 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by mapet: 12:13pm On Jan 12, 2018 |
Desyner: Hmmn! Bros........ Let me let you enjoy your day....... |
Re: FG Makes N909 Billion From VAT in 2017 by Passenger27: 12:28pm On Jan 12, 2018 |
[quote author=bloodmoneyspita post=64113406]how much did the north contribute? Abuja contributed 25%. How much did ipob touts enclave cobtributed? |
Re: FG Makes N909 Billion From VAT in 2017 by Ovamboland(m): 12:32pm On Jan 12, 2018 |
crispus09: How much is SEast contributing? 1 Like |
Re: FG Makes N909 Billion From VAT in 2017 by Nobody: 12:35pm On Jan 12, 2018 |
and tommorrow they will say no money.useless set of people |
Re: FG Makes N909 Billion From VAT in 2017 by triple996(m): 1:43pm On Jan 12, 2018 |
Re: FG Makes N909 Billion From VAT in 2017 by MEGA4BILLION(m): 2:09pm On Jan 12, 2018 |
And they still want to borrow? |
Re: FG Makes N909 Billion From VAT in 2017 by yousouf1(m): 4:47pm On Jan 12, 2018 |
The Issue of VAT compilation is very complicated to comprehend in Nigeria. Lagos paid highest VAT does not mean Lagos people consumed/provide most of the goods and services. But the VAT returns get compiled and paid in Lagos because most of companies headquarters are based in Lagos. Everybody in the country contribute to VAT revenue generation from south to north, Lagos to Maiduguri, Banks, farmers, transports people, those that play lotteries(bets), bureau de change people, market men and women, and infact everybody that Consumes/provides goods and services. |
Re: FG Makes N909 Billion From VAT in 2017 by nextstep(m): 4:53pm On Jan 12, 2018 |
Desyner: Wait, isn't market opportunity directly related to population? As in if you have 170million individuals, isn't that a larger opportunity than 15million? I'm sure there's some truth to easy oil money being shared, but I doubt the lady who spend 12 hours selling foodstuffs or working in a pharmacy will agree that she's getting access to easy oil money. Yet she wants toothpaste (as an example). How do you explain the money that 50 million households use to buy toothpaste? |
Re: FG Makes N909 Billion From VAT in 2017 by Desyner: 5:02pm On Jan 12, 2018 |
nextstep:You have a point but that point is limited in the sense that Govt is the largest employer of labour. Market size can be rated by both population and buying power. Buying power is proportional to per capita earning. UK for instance has a smaller population but is a bigger market. |
Re: FG Makes N909 Billion From VAT in 2017 by Nobody: 5:33pm On Jan 12, 2018 |
Statsocial: As nigeria rakes in more n more Billions, prices of every commodity in Nigeria increase n hunger multiplies. |
Re: FG Makes N909 Billion From VAT in 2017 by Optional09: 5:55pm On Jan 12, 2018 |
bloodmoneyspita: Nothing than killing innocent tax payers. They are parasites and useless |
Re: FG Makes N909 Billion From VAT in 2017 by MIKOLOWISKA: 7:31pm On Jan 12, 2018 |
Desyner:it is neutralized by laziness not population |
Re: FG Makes N909 Billion From VAT in 2017 by MIKOLOWISKA: 7:36pm On Jan 12, 2018 |
Statsocial:a slum of 5 million then it wouldn't make as much money from VAT |
Re: FG Makes N909 Billion From VAT in 2017 by MIKOLOWISKA: 7:37pm On Jan 12, 2018 |
Statsocial:how is the North a burden to you exactly |
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