₦airaland Forum

sapele914:
zombie study to find yourself approved, stop follow follow, 50% for the State, what of The Local Government (35%), or is Local Government money State’s money?

smokinloud:
what excuse?
lol. you nor understand my English
I asked you to use your search engine but wait I'd help you

VAT , a tax levied on goods and services consumed, is shared among the three tiers of government, with the Federal Government taking 15 per cent, while the state and local governments share 50 per cent and 35 per cent respectively . With the present LG structure in the country , the Northern section of the country is placed at an unduly advantageous position because it has by far the greater number of LGAs. These are LGAs created based more on land mass than on human population .

https://punchng.com/redressing-injustice-in-vat-sharing/

FEDERAL GOVERNMENT TAKES ONLY 15% THE REMAINING 85% IS SHARED BETWEEN STATE AND LOCAL GOVERNMENT

smokinloud:
You might want to check your search engine for it

smokinloud:
alaye pipe down!
I excerpted from your source guy

smokinloud:
Stop exposing your "olodoness" jare!

sapele914:
OLODO Go and do your research properly, States & Local Government actually collect 85% of VAT.

MansoryMX:
Almost 86% percent of Nigeria has no idea what Value Added Tax is! Even the educated ones who must have come across it during their school days. We pay VAT in almost everything we purchase in this country and still government is using excuse of Nigeria not paying taxes to keep people in Hunger, whereas every citizen at one point in time pay indirect tax. Billions of revenue are gotten from indirect tax in almost non perishable goods we consume. I weep for this country

sapele914:
T Go & meet your state Governor, 70% of VAT money goes to the States & Local Government.

Powerintoxicate:
I've been reading comments from some Nigerians saying the reason why the federal government can't pay NIGERIANS the way foreign governments have been paying their citizens is cos Nigerian s don't pay tax. If I may ask can the FG account for the billions of naira it collects from all of us as VAT? Not to talk of the PAY AS YOU EARN.

THE government is just been irresponsible if they refuse to pay stay at home stipends

walexy100:
If you are civil servant, start learning skills now because heads will definitely roll

mmsen:
The oil comes from the delta but it is the north who will be hurt the most by this.

How will they survive?

bayelsaowei:
I understand..but the government must have civil servants even though I know they do almost nothing in their various offices..

Bottom line is Nigeria needs to transit into true federalism so that state governors can wake up and run their economies to the benefit of their people and not wait on oil monies from the niger delta.. just look at the state of the country.. we have leaders who are fools ..we have leaders depend on monthly stipend from the center to survive... thats madness.

jerryunit48:
So na true say na awa oyel dem take dey run naija yet nothing to show for it in the entire Naija Delta

Ladyhippolyta88:
We are in deep poo.
Ignorance will make this virus spread
And the most annoying part is that some people still don't believe this thing is real they claim that the government is scamming us
I am avoiding those people.

Fabulouzjoseph:
Hmn so its because 5g was tested in lagos and abuja that we now have high cases abi

Fabulouzjoseph:
did i in anyway say iran has not tested 5g. I mean iran does not have 5g network but they have high cases of covid-19. Testing is different from having biko

Fabulouzjoseph:
He has no point iran does not have 5g but they have high cases of covid-19

EVILFOREST:
He said they started with ABUJA installations first.
Don't misquote him.
If he is your PAPA, then bury yourself in shame at least for now.
He really embarrassed himself

EVILFOREST:
If the 5G was first mounted in ABUJA like PASTOR CHRIS claimed, why is LAGOS that is yet to get 5G installations having more CASES...??

udemzyudex:
Read his post again.

olaboy33:
Very misleading report.

This is only in US oil trading and particularly in west Texas.

Brent oil price in the international market as of today is still well above $20 per barrel.

Please don't create unnecessary panic to the one on ground already.

Aflix:
Can they not just stop production for now?

LarryBee1k:
When we fail to plan for the future. The future will plan to fail us. Hope we can drink our oil now.

josh123:
How can i buy 50 barrels of oil. I need to store and keep

Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than Monday’s collapse in a key segment of U.S. oil trading.

The price on the futures contract for West Texas crude that is due to expire Tuesday fell into negative territory -- minus $37.63 a barrel. That’s right, sellers were actually paying buyers to take the stuff off their hands. The reason: with the pandemic bringing the economy to a standstill, there is so much unused oil sloshing around that American energy companies have run out of room to store it. And if there’s no place to put the oil, no one wants a crude contract that is about to come due.

Underscoring just how acute the concern over the lack of storage is, the price on the futures contract due a month later settled at $20.43 per barrel. That gap between the two contracts is by far the biggest ever.

“The May crude oil contract is going out not with a whimper, but a primal scream,” said Daniel Yergin, a Pulitzer Prize-winning oil historian and vice chairman of IHS Markit Ltd.

“There is little to prevent the physical market from the further acute downside path over the near term,” said Michael Tran, managing director of global energy strategy at RBC Capital Markets. “Refiners are rejecting barrels at a historic pace and with U.S. storage levels sprinting to the brim, market forces will inflict further pain until either we hit rock bottom, or COVID clears, whichever comes first, but it looks like the former.”

Since the start of the year, oil prices have plunged after the compounding impacts of the coronavirus and a breakdown in the original OPEC+ agreement. With no end in sight, and producers around the world continuing to pump, that’s causing a fire-sale among traders who don’t have access to storage.

The extreme move showed just how oversupplied the U.S. oil market has become with industrial and economic activity grinding to a halt as governments around the globe extend shutdowns due to the swift spread of the coronavirus. An unprecedented output deal by OPEC and allied members a week ago to curb supply is proving too little too late in the face a one-third collapse in global demand.

There are signs of weakness everywhere. Even before Monday’s plunge, buyers in Texas were offering as little as $2 a barrel last week for some oil streams. In Asia, bankers are increasingly reluctant to give commodity traders the credit to survive as lenders grow ever more fearful about the risk of a catastrophic default.

In New York, West Texas Intermediate for May delivery dropped as low as negative $40.32 a barrel. It’s far below the lowest level previous seen in continuation monthly data charts since 1946, just after World War II, according to data from the Federal Reserve Bank of St. Louis. Brent declined 8.9% to $25.57 a barrel.

Isaacmacdon:
You've spoken very well. Uncouth n brash! Typical of an average Nigerian. Can't deduce original thought.

Isaacmacdon:

Stay safe. Do not get into a fight with them. Protect your family members and other unsuspecting citizens.

Call 911 or send a tweet to @segalink for swift response.

Lalasticlala, please do the needful. There are key security operatives monitoring. They should spot this thread and respond immediately!