₦airaland Forum

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Commentor:
This is all theory.

Let me give an example as outlandish as it may seem.

If all Nigerians were able to produce movies or music for export at wizkid's level, what government policy can stop it?

If you decided to make Adire shorts which happen to catch on globally, please tell me what would prevent it from selling?

[/s]

PoliticalWitch:
Note for the senator

1.Oil is at $59 dollars per barrel today

2.We need oil to be at $140 per barrel before we can reduce taxes, and stop borrowing.(For the uninformed, see this article HERE)

3.Bubu is bad , I know....but the truth is, since he took office , oil has hovered between $75 and $30 per barrel. So borrowing has been in order to prevent total collapse.

4.Also, we have no choice in this country but to raise taxes. Simple.

5.I want APC out too. But whoever takes over is going to meet the same set of problems. The problem of getting money.

6. So, let's face the cold reality. Sorry APC has not been good at diversification like they promised.

Modified;

For anyone still reading....this is the oil breakeven price for several countries as at 2017. Note that Nigeria is in the same boat with a lot of other countries...

Nigeria $139,
Bahrain $84,
Angola $82,
Oman at $75.
Saudi Arabia $74,
Russia $72,
Kazakhstan $71
Gabon $66;
Azerbaijan $66,
Iraq $61
Abu Dhabi,United Arab Emirates $60
BRENT CRUDE OIL PRICE AS AT TODAY: $58
Republic of Congo at $52
Qatar at $51
Kuwait at $45

Truly Black man has no capability to govern himself. Switzerland, Japan, UK, and lots of other European countries have no single resources, yet they are that wonderful, running efficiently. We have oil at all, yet we keep making stupid excuses day after day, running down the country. Imagine if there is no resources? Lol, na him be say, here go be just bush, people using wheelbarrow as cars. No banks no schools no hospital, nothing modern �. People will probably live like animals in the bush.

jahsharon:

He is mad. His madness will lead him to early grave. Tell him that his forefathers cannot dare look at Buhari straight in the eyes. Maybe he wants to die young like his parents.

lol wasted sperm

Commentor:
Bold is not true.

If you wish to tow that path please cite examples of borrowing for consumption.

can u cite one example of what this administration has been able to achieve with the huge sum they have borrowed over time ?be sincere don't speak politics pls I am not a political supporter ,we need to cut the cost of governance, it will shock you that a man who called himself Mr integrity has not said anything about cutting down on cost of governance, don't tell me about national assembly we already know that they are corrupt, look at the amount budgeted for education and health it will tell much about this government, u budgeted over 123b for ,over 148b for housing, when was the last time you heard about federal housing estate in Nigeria?let me leave with this few points, believe me most of us can do better than this government.

OChimex:
Truly Black man has no capability to govern himself. Switzerland, Japan, UK, and lots of other European countries have no single resources, yet they are that wonderful, running efficiently. You guys have oil at all, yet you guys keep making stupid excuses day after day, running down your country. Imagine if there is no resources? Lol, na him be say, here go be just bush people using wheelbarrow as cars. No banks no schools no hospital, nothing modern �. People will probably live like animals in the bush.

Well, I have a solution

We remove petrol subsides completely, sell NNPC, stop setting the price for PMS....and watch as investors flow in to build refineries, build gas processing plants and we use the savings of N2 trillion at most to fund education, health, etc.

. We also do the same thing for power...allow DISCOS set the price, so that theyhave the cash not to reject power for GENCOS...which means more investment and improved power supply, which means more jobs....and more power

But because Nigerians think that price controls are the thing for power and petrol, forgetting that it is sabotaging the ability of both sectors to make profits...and leading to things like smuggling, rejection of power, and a general lack of investment,,,,that is why we are backward.

Government too does not want to do such things.

Commentor:
This is all theory.

Let me give an example as outlandish as it may seem.

If all Nigerians were able to produce movies or music for export at wizkid's level, what government policy can stop it?

If you decided to make direct shorts which happen to catch on globally, please tell me what would prevent it from selling?

What I said isn't theory. If tomorrow, government decides [/i]to slash company tax to 13%, the stock market will jump all

If the government [i]decides to reduce import duties on lots of raw materials, manufacturing activities will pick up.

If tomorrow, government decides to reduce the cost of registering a business name to N2,000 and insist it must be collected in a day, the number of business registrations will shoot up

If tomorrow, government decides to allow Nigerian hospitals to advertise there services in Newspapers and beyond, that may lead to the start of medical tourism in Nigeria.

That is why businessmen wait for the budget to know what new policies there will be.

The market is best at picking winners. What matters is for government to create the necessary environment where these winners can thrive. h

my brother its our country budget lets look at it or else this man will kill us before he leaves power

VillageHead:
Make Abaribe no go talk pass hin mouth o!


Lest FG should open up their unfinished business with him.

" you stood as a surety for Mazi Nnamdi Kalu, provide him."

Truly Black man has no capability to govern himself. Switzerland, Japan, UK, and lots of other European countries have no single resources, yet they are that wonderful, running efficiently. We have oil at all, yet we keep making stupid excuses day after day, running down the country. Imagine if there is no resources? Lol, na him be say, here go be just bush, people using wheelbarrow as cars. No banks no schools no hospital, nothing modern �. People will probably live like animals in the bush.[/quote]Nigeria main problem is with her population.We have the same qty of oil has UAE but see the diff in estimated population 11 million vs 210 million.


If thats not alarming just imagine the average woman is said to have 7 kids in Nigeria and 50 percent of this 210 million population are young persons in child bearing age.

So in the next 20 years the estimated population from 210 million is just unimaginable

Nigeria needs to address its population explosion and numner of children per family.Thats what the other Nations have done which helps their country show value for money. especially your darling europe.And the Saudis has well and other middle eastern countries

We need to address our population issue or else our income as a country may never be enough to cater for all adequately

how about to look for other alternative apart from oil gold is there other solid minerals are there how about that

PoliticalWitch:
Note for the senator

1.Oil is at $59 dollars per barrel today

2.We need oil to be at $140 per barrel before we can reduce taxes, and stop borrowing.(For the uninformed, see this article HERE)

3.Bubu is bad , I know....but the truth is, since he took office , oil has hovered between $75 and $30 per barrel. So borrowing has been in order to prevent total collapse.

4.Also, we have no choice in this country but to raise taxes. Simple.

5.I want APC out too. But whoever takes over is going to meet the same set of problems. The problem of getting money.

6. So, let's face the cold reality. Sorry APC has not been good at diversification like they promised.

Modified;

For anyone still reading....this is the oil breakeven price for several countries as at 2017. Note that Nigeria is in the same boat with a lot of other countries...

Nigeria $139,
Bahrain $84,
Angola $82,
Oman at $75.
Saudi Arabia $74,
Russia $72,
Kazakhstan $71
Gabon $66;
Azerbaijan $66,
Iraq $61
Abu Dhabi,United Arab Emirates $60
BRENT CRUDE OIL PRICE AS AT TODAY: $58
Republic of Congo at $52
Qatar at $51
Kuwait at $45

if the government does not increase taxes what do you expect her to increase because oil price is coming down every day which is the back bone of our economy, the focus on taxation can help Nigeria government for now because the FG have no control over oil price

grandstar:
What I said isn't theory. If tomorrow, government decides [/i]to slash company tax to 13%, the stock market will jump all

If the government [i]decides to reduce import duties on lots of raw materials, manufacturing activities will pick up.

If tomorrow, government decides to reduce the cost of registering a business name to N2,000 and insist it must be collected in a day, the number of business registrations will shoot up

If tomorrow, government decides to allow Nigerian hospitals to advertise there services in Newspapers and beyond, that may lead to the start of medical tourism in Nigeria.

That is why businessmen wait for the budget to know what new policies there will be.

The market is best at picking winners. What matters is for government to create the necessary environment where these winners can thrive. h

What raw materials?

Give examples.

Commentor:
What raw materials?

Give examples.

Steel for instance or palm oil

Import duty of steel for instance is between 0% to 35%.

A 0% tax rate on all types of steel will increase massively the importation of steel. Since demand for steel in an indirect demand, it will be used to produce other goods leading to an increase in manufacturing production

Tnx. Autocorrect at work.

livebyday:
Famine

guy na so you talk?na we go suffer am bro some one is able to tell them that what they are presenting as budget is not working and ur here talking nonsense let me put it simple for you if you dont know you have 10 naira used 2.4 naira to pay debt and invest 0nly 2 naira the rest na to chop and spend it any how education only 46 kobo so start thinking with ur brain now and plenty tax

solmusdesigns:



Atleast deputy chief whip and Senate President gave the fool back his size
even when disgraced Ekweramadu wanted to start his mumble jumbo, he was reminded to keep his speech short and brief

Foolisness is now PDP's second name and am glad lawan was very ready for them

..

[s]

Commentor:
What raw materials?

Give examples.

[/s]

Yea..... the man has both 1st and 2nd degree in Economics and financial studies.

Arysexy:
Senator Abaribe appears to know his Onions well. Is he an Economist? Dude is way intelligent than his colleagues.

2.4 trillion for debt servicing

2 trillion for capital expenditure OMG!

What we pay as loan servicing is bigger than all the capital projects for the year!

It is finished. When we were shouting about Buhari's borrowing left, right and centre to finance his re- election, zombies called it wailing

Also,

The projected growth that they put in the budget was 1.9 per cent, less than the population growth of 2.6 per cent


Una don see am

grandstar:
Steel for instance or palm oil

Import duty of steel for instance is between 0% to 35%.

A 0% tax rate on all types of steel will increase massively the importation of steel. Since demand for steel in an indirect demand, it will be used to produce other goods leading to an increase in manufacturing production

Basic steel ingredients is 5%.

Finished steel products is 30%.

Doing otherwise would mean no growth in manufacturing because finished steel products (even basic buckets) would flood the market from China.

hhhaha coward Buhari i dont know if u were born when he was over trown Buhari is the greatest coward of a general who was crying when he was over trew thats why hes having problem with Dasuki bro when we was over trewn not a single fly died he was begging and crying so dont make a supper man out of a weak link like Buhari please

jahsharon:

He is mad. His madness will lead him to early grave. Tell him that his forefathers cannot dare look at Buhari straight in the eyes. Maybe he wants to die young like his parents.

[s]

Commentor:
Basic steel ingredients is 5%.

Finished steel products is 30%.

Doing otherwise would mean no growth in manufacturing because finished steel products (even basic buckets) would flood the market from China.

[/s]

MelesZenawi:
Budget of no value....

Buhari and Osibanjo has shown clearly that they both lack leadership qualities...

The president is a disgrace like his deputy who couldn't account for over 90bn under his own watch.

The budget of values presented by ur Darling PDP in the past years, how does it benefit ur life? And give yr evidence of the mismatch of 90bn under Osibanjo, anyway, ur wailing will last till 2023, nothing can change that.

I like Sen Abaribe for one thing, he doesn't shiver even in the midst of intimidation. He has been a torn on the flesh of President Buhari especially during budget presentation, courtesy of his economic and financial intellect. Back to the issue of budget, how can the presidency make the poor masses suffer at the expense of the bourgeoisie in the name of funding a budget that will not favor them(the proletariats). So are they saying that all the money being borrowed all these while were for consumption and not investment? Borrowing should be for investment and not for consumption and embezzlement and until this govt understands that, we are still far from economic improvement.

PoliticalWitch:
Note for the senator

1.Oil is at $59 dollars per barrel today

2.We need oil to be at $140 per barrel before we can reduce taxes, and stop borrowing.(For the uninformed, see this article HERE)

3.Bubu is bad , I know....but the truth is, since he took office , oil has hovered between $75 and $30 per barrel. So borrowing has been in order to prevent total collapse.

4.Also, we have no choice in this country but to raise taxes. Simple.

5.I want APC out too. But whoever takes over is going to meet the same set of problems. The problem of getting money.

6. So, let's face the cold reality. Sorry APC has not been good at diversification like they promised.

Modified;

For anyone still reading....this is the oil breakeven price for several countries as at 2017. Note that Nigeria is in the same boat with a lot of other countries...

Nigeria $139,
Bahrain $84,
Angola $82,
Oman at $75.
Saudi Arabia $74,
Russia $72,
Kazakhstan $71
Gabon $66;
Azerbaijan $66,
Iraq $61
Abu Dhabi,United Arab Emirates $60
BRENT CRUDE OIL PRICE AS AT TODAY: $58
Republic of Congo at $52
Qatar at $51
Kuwait at $45

How do you expect employment to grow when you are increasing taxes? Haven't noticed that most companies have left Nigeria? With this many will have to leave and go to a place where the tax is less cumbersome

Chigold101:
How do you expect employment to grow when you are increasing taxes? Haven't noticed that most companies have left Nigeria? With this many will have to leave and go to a place where the tax is less cumbersome

Well we could grow our economy by removing subsidy on fuel, and spending the savings on education and transport., and health...while investment flows into new refineries, etc....which in turn would create jobs.

Or we take another big fat loan.

you take a look at the budget and tell us whats good please we might not know

SaintLucia:
T.A Orji, Kalu Orji and Abaribe were once governor, deputy governor and Chief of Staff of Abia. Ask him the impact of the budget they passed during their time on the people of Abia state. He sha want to talk so that his gullible followers will say the minority leader is talking. Ask him whether his state and the kerosene man get budget. Yeye party that can't even complete their national Secretariat.

VillageHead:

You mean the super eagle wey I sabi abi na another one?

another one

VillageHead:

You mean the super eagle wey I sabi abi na another one?

another one

Any group that leaves a message and attacks a messenger is doomed.
Hindi Proverb.

VillageHead:
Make Abaribe no go talk pass hin mouth o!


Lest FG should open up their unfinished business with him.

" you stood as a surety for Mazi Nnamdi Kalu, provide him."

What collation does what you are saying have with the facts Sen.Abaribe marshalled out?
Pls be reasonable

jahsharon:

He is mad. His madness will lead him to early grave. Tell him that his forefathers cannot dare look at Buhari straight in the eyes. Maybe he wants to die young like his parents.

sit back and listen to yourself. You left the issue he raised and attacked his personality. SMH!

PoliticalWitch:
Well we could grow our economy by[b] removing subsidy on fue[/b]l, and spending the savings on education and transport., and health...while investment flows into new refineries, etc....which in turn would create jobs.

Or we take another big fat loan.

Arysexy:
Senator Abaribe appears to know his Onions well. Is he an Economist? Dude is way intelligent than his colleagues.

2.4 trillion for debt servicing

2 trillion for capital expenditure OMG!

What we pay as loan servicing is bigger than all the capital projects for the year!

It is finished. When we were shouting about Buhari's borrowing left, right and centre to finance his re- election, zombies called it wailing

Also,

The projected growth that they put in the budget was 1.9 per cent, less than the population growth of 2.6 per cent


Una don see am

the projected growth is for the dangotes and elites,but i must grow

hm mm