₦airaland Forum

MadamExcellency:
Stop comparing Ebonyi State and Abia State. Abia State is an economic and industrial hub in Eastern Nigeria. People come from Lagos State, Southwest, Southsouth and North to buy something from Aba.

Forget this. People wey dey come with night bus to buy goods. Aba people wey like cheap things go use plan? Go to milverton na so so night bus.

Vlibray:
Denied bail for a bailable offence ?
You people are really funny in that Nigeria..
Do you know many times people have made/published false claims about Trump or Biden or Obama ?
Countless times. Have you seen anybody arresting anyone ?. No
Most of the time, those who try to silence or censor someone are often guilty of the very thing being discussed.

So to publish falsehood is a licence? If you must defame then prove? We need this in this country particularly against those chasing followers online.

Mindlog:
Shettima should face his front.

Kemi should face her front too.

Treasure17:
If I was in her position,I will do same. Nothing positive worth saying about Nigeria. Y'all should fix yourselves. Kemi should be the least of your headache.

When the Indian was the prime Minister did he disparage the Indian nation? Nigeria is not asking for any favour from her but let her face her job and country and leave Nigeria alone. It's uncharitable to destroy the bridge that you used to pass to paradise.

HenryWilliams:
There's something wrong somewhere.
If Port Harcourt Refinery is really producing..why haven't the Price dropped?
Or you're telling me..petrol refined abroad and shipped into the country is cheaper than petrol refined locally?
This Govt is something else..they take us for fools
The wall of Damascus will soon fall in Nigeria..
Mark my words

What is the output of the PH refinery?

Ebinpawo1:
What does this mean for we in the street? How does that affect the price positively for us?

PMS price has come down 👇 from the old price of 1,600 to average price of 1,050.

chiderablaze:
Mumu people, wasting millions with no meaningful contribution to the society, the money they waste on these religious circuses could have set people up for life, established mini industries or give grants the gaulible members

How many have you set up?

Skydivine:
The main problem is that almost all the companies listed there have their branches across all state in Nigeria.
So they make their money from these states but that profit is tallied at the headquarters in Lagos. Meaning In theory that a company in Lagos is making the profit and then the taxes are collected by Lagos government.

How is this right?

Have you heard of CITA and PPT? It's not everything that is brought online that everyone must do chochocho. Taxation is a technical issue.

nnatobryno:
That's the problem, no oil company is listed because the pay with crude

Who told you? Have you heard of PPT before

YourGFsnatcher:
You are oblivious to knowledge. Why didn't the French help Niger Republic? It's you them like pass Abi? Go and check Niger's growth rate now and before then come and talk

Defend your phrase "fastest growing economy" Produce proof.

Shawarmagirl:
Nonsense and ingredients.
If you are still in Nigeria and still believe Nigeria go better, you go wait tire and keep wishing until you kpai. JAPA if you can for the sake of yourself and children.

Why are you still interested in Nigeria? Go where you want to go. Face where you are. Concern yourself with events of where you want to go or you are. We care less.

YourGFsnatcher:
Nigerians aren't that smart. We are far from coming out of our predicament because we don't know the difference between what is good what is bad. We cannot differenciate between good and bad decisions. Anything these leaders say it's good we follow like zombies. We have a crumbling economy, we have a dilapidated security, we have brainless leaders, the conditions keep getting worst, these so called leaders have been coming up with Policies that only increases the gap between the rich and the poor. Sadly we have people like you that will keep blowing their trumpets and keep telling Nigerians they are doing the best things for us. FYI, Niger Republic broke ties with France and became the fastest growing economy. So France could not help them after all the years of friendship? It's nigeria they like most? Is this a difficult maths?

Niger Republic? The fastest growing economy? How many cartoons of hero beer did you drink?

ohosi4real:
What make people still know labour party is because of Peter Obi once Peter Obi leave the party. The party will relegate. We are still waiting for Peter Obi next step between hlm and Atiku before 2027.

Peter Obi .....the Reuben of the Bible. Unstable as water.

Believeintruth:
See dude propaganda no dey sell. The reason for the so called surplus is that imports have reduced due to the high exchange rate and the high duties at the port.
For a 20ft container it cost about 22 million to pay duty and clear, coupled with the cost of freight and the goods.
If the cost is transfered to the customer how can they afford it, knowing fully well that purchase power has been eroded.

An import dependent economy is like a child that is fed through feeding bottle. This is what is being corrected. Buying and selling doesn't grow economy. It only makes a handful rich.

DeLaRue:
It is easy to be a CBN Governor when times are good ala Messrs Soludo and Sanusi.

No Nigerian CBN Governor in the last 50 years has faced the difficult economic circumstances that Mr Cardoso has faced since he was appointed.

He may not have the bravado of some previous CBN Governors, but he has quietly proven himself as being super competent.

If you doubt me, ask Turkey.

As Turkey's currency has faced very turbulent times in recent years, the country has tried more than 4 central bank Governors in less than 3 years, yet their currency is still in rhe doldrums.

You are correct. I don't envy Cardoso's job. Yemi is a gentle and quiet achiever. I know him closely in the 90s.

Sheuns:
If you have money, buy as much as possible. It’ll return to status quo by January.

This will fail you. The economic outlook is becoming reasonably stable. PMS price is daily going south.

Kukutenla:
This is good news

Bit it seems CBN is flooding the market with dollars or where's the excess dollars coming in from? It was previously claimed that we need to become productive for our currency to appreciate

The value of the naira has been heavily decimated since APC came into power we hope the are able to work out a genuine respite for our currency

Speculative activities has been the major driver. Anything that eliminates or reduces it will give us true value of naira.

JoeyNaza:
I can confirm this. Dollar fell a lot in the black market too.

Edit: No celebrate too much or praise Tinubu. My BDC guys explained that it's seasonal, as diaspora people are returning for the holidays, they are selling their FX in exchange for Naira, which is temporarily propping up naira value.

I agree with you. In normal times the exchange rate gets low this time because of diaspora people returning but did it happen last year? The answer is no. Most diaspora don't return as usual during end of year because of insecurity. They also have apps that they use to convert their fx.

Yankee101:
But it’s a good opportunity to buy the dollar now using naira

You may end up losing massively. There is no sign that naira will loose ground early. The major driver has always been speculation and not demand and supply. Anything that eliminates speculation will give us true value of naira.

Believeintruth:
You have not answered the question has it stopped the bribe in Lagos? The answer is No

I have answered you. How did Lagos state IGR grew? I used tenement rate as example for you. Before the reforms when the local governments give you the annual bill. You just go to the local government and negotiate the amount you want to pay. They will change the valuation of your property. Once you pay the amount in cash they will issue receipt that has any amount and pocket the rest.

The land use charge is now state tax. Your bill comes and you pay. No negotiation. No kickback.

Bobloco:
Have you read the entire bill?

I have read the general principles of the bill. I have been trying to get the four bills. Someone promised to get only one of them for me.

tolexy007:
the only thing that is making me to begin to.like Tinubu is this Tax Reform bill.

The bill must b passed.

We told you that sentiments aside the man is good, focused and it's prepared for this job. He understands Nigeria inside out. I will be disappointed if he runs eight years without laying a solid foundation for Nigeria's turnaround.

Macphenson:
One of the most controversial issues in this Tax Reform Bill is that 60% of VAT to be shared by states will be given to the state it was collected from, It seems by this it will only favour mostly Lagos and Rivers State to the detriment of the Northern states who are collecting more VAT based on population.

Here is my concern, Lagos state was deliberately made the commercial headquaters of the Nation to the detriment of other states the more reason it collects more taxes.

Practically, All the cars entering the country pays their tax to only Lagos state. Even the cars to be used in Rivers, Akwa Ibom, Bayelsa, Delta and Cross River states. Now this is not fair to these states as they have their own seaports but cars are not entering them, the taxes they are supposed to get as a state goes to Lagos state.

Also, Telecom companies pay their VAT in Lagos because their headquaters are located in Lagos, If this new bill is passed, that is no longer fair to all other states where the Telcom companies operate. Telcom companies should now start paying VAT to each state they operate as you can no longer rob Peter to pay Paul.

Oil companies have their headquaters located in Lagos while they operate in different states especially in the Niger Delta. This will no longer be fair if the bill is passed becaused those states where the oil companies operate will start demanding that the oil companies pay thier VAT in those states they operate.

The truth is this bill if passed, is seriously going to open litany of issues which I dont think at the moment the bill captured or resolved it.

Another worrisome dimension, this may prompt the oil producing states to start demanding for 60% of the oil revenues from their respective states, once this happens, chaos will reign supreme in the country.

Your assertion is not true. The current situation is that vat is taxed on the headquarters of the companies. In allocation the state where the headquarters are located get more. This favours Lagos.

The new bill states that allocation will be based on where the consumption is made. This will not favour Lagos. Vat is a consumption tax therefore this is correct. This is the global practice.

For example MTN, allocation for vat paid by MTN will be based on number of subscribers in a state rather than where the headquarters is. This is in line with the theory of consumption in vat.

Bobloco:
We are asking why there is a rush to pass such an important bill that will have a far-reaching effect on Nigerians

Why the rush? Answer: it's an economic bill required urgently to reform the economy. It will increase revenue and block wastages of tax collection.

You will notice that immediately the president was sworn in this committee was one of the earliest appointments. It has taken them almost eighteen months to put together this bill.

Believeintruth:
Did it reduce bribes and padding in Lagos?

Yes.....case study is current land use charge. It used to be tenement rate collected by local governments.

Even if they kill this bill history will be kind to Tinubu for this. Nigerians will regret missing this opportunity. Have you noticed that PMS price is gradually going down through competition. It has moved from #1,300 to #1,100. I see it moving to #1,000

From OBJ to buhari this is the only president that has the will, courage, knowledge and focus to reform our system. The word reform was rarely mentioned under any of the above. Less than two years into this regime it's a popular word. Politics and name calling aside if we miss it now it will be difficult to come bye.

EXPRESSSMAN:
You are among those who did not understand what the tax bill is all about.
How did it block leakages and make collection economical?
Well, take note, I am not one of those you people can use all those propaganda and vague promises on.

Have you read the bill? Lecture us on the salient points of the bill.

Believeintruth:
How? By creating another loophole for consultants as an avenue to loot.

Your assertion is an assumption. When you centralize the collection the bribe and padding will be reduced. The cost of collection will be lower. It will be easier to ascertain.

aariwa:
If this were somebody that is trusted and loved by almost every Nigerian like His Excellency Peter Obi, this tax reform bill would not have run into obstacles because they know already he will utilize the revenue well and improve lives of Nigerians unlike tinubu illegitimate government that have many major Trust issues with Nigerians. Everything about tinubu na scam. Nobody will ever trust a mandate thief that ruined every trust in our electoral and judicial system to manage their taxes

Peter Obi's brain no reach this side. Have you ever heard him talk about reform? His own na from consumption to production. Another one is: a new Nigeria is possible.

EXPRESSSMAN:
The people supporting this bill doesn't understand the implications.
1. If you make derivation the major basis for distribution of VAT proceed, then companies like MTN will be made to pay VAT in all States where their products are consumed. Just like other companies. This will amount to confusion that will affect businesses.
2. If you exempt people earning one million and below from paying income tax, then apart from Lagos, Rivers and other oil states, how many workers in those other states earn over a million.
3. It is the same thing with companies, how many of them in those other states earn a turnover of 50 million and above.
These are what the Northern states are saying. You want to suffocate them and you don't want them to complain.
4. Taxes, including custom duties that are collected by 62 bodies, you want it to be collected by one body so that it will be easy to introduce consultants to the process. How will all these work and benefits the people and other levels of government.
5. The Economic council and other bodies advised for more time and consultations to sort out these issues, you said no.
And some people are here supporting it thinking that it is a Northern problem.

You want us to wait till eternity for a bill that the economy will leverage on? We must not generate income to run the economy. The tax bill blocks leakages and make collection economical.

Zico5:
Guilty conscience at play. You know she has not done so in Nigeria despite the level of hardship here

Do you think so? CSR is compulsory for Rccg parishes. You think that the church is the noise making type.