₦airaland Forum

God1000:
You Can Remove 'Kemi' From Your Name – VP Shettima Accuses UK Party Leader Badenoch Of Denigrating Nigeria



https://saharareporters.com/2024/12/10/you-can-remove-kemi-your-name-vp-shettima-accuses-uk-party-leader-badenoch-denigrating?

Kemi Badenoch has a right to identify with whatever and whoever and any country she choose.

She isn't the first Nigerian to disown or disassociate with Nigeria.

Why are the Nigerian politicians particularly pained about her desire and strong will not to associate with them?

Nigerian politicians should rather check themselves and stop winning and complaining and being pained.

Leave her alone.

FreeStuffsNG:
The way forward for Dele Farotimi, By Kenneth Ikonne



https://www.premiumtimesng.com/opinion/760004-the-way-forward-for-dele-farotimi-by-kenneth-ikonne.html

Interesting narration of event that happened in the past and could become a precedent in this case of Dele Farotimi vs Afe Babalola and others.

I must admit that allegations against the judiciary is grave and sensitive because it has tendency to ridicule, damage and discredit the judiciary in Nigeria. You must have evidences to proove it. If you don't, I am so sorry. Little wonder that the judge remanded the lawyer in prison rather than grant bail immediately.

But like SAN Kenneth Ikonne suggested in this humorous and captivating article, Dele Farotimi may have a way out by "taking his words back", adopt humility and apologize.

I don't know if he would have to withdraw the books or revise the book for another round of sale.

TEYA:
OGA keep quiet. Go and tell your thieving leaders to fix our refineries, you guys have no shame a rice and spaghetti seller is building better refinery than you engineers with decades of experience in oil and gas.

You are not well informed if you are still advocating that the government should fix the refineries.

NNPC Limited currently owns the Nigerian legacy refineries.

Government should rather create an enabling environment for more refineries to be established by private organisations and empower the regulatory agencies to do their jobs, especially the consumer protection agencies.

Looking4Trouble:
Petrol will continue to be imported by anybody that has the capacity to. These devilish monopoly that Dangote wants on Petrol will not stand

Your point is taken and understood.

skywalker240:
Good




That won't happen

That Man is a greedy crook

Fact is, if he sells for 500/ltr, he will still be able to pay his debts, but greed won't allow

Your salient point is well taken. Where is Aliko Dangote on the Maslow's Hierarchy of Needs Graph illustration?

RedScorpion:
Why would Dangote challenge licenses granted to importers of petroleum products if he is not interested in monopolizing the market ?

Crude oil importation must continue

Dangote and other local refineries should also continue production...

That way, the market would be flooded with petroleum products and the price will remain down and stable for a long time..

If you stop importation and Allow Dangote to be the major supplier of petroleum products in Nigeria,

One day... The man would just wake up and increase the price of these products and there is little anyone can do...

Crude oil importation must continue

Dangote should not be allowed to control the market just as he wants.

I think it is not about crude oil importation, it is about petroleum products importation and particularly the gasoline or Premium Motor Spirit (PMS).

HIPOSOCRATES:
Proposed VAT increase from 7.5% to 15% the next 6 years is on luxury goods. Essential commodities that are for d masses will be totally exempted from VAT .

Kindly read the document to understand and not listening to d jaundiced view of some myopic individuals. If u want luxury, u should be able to pay for it.

The tax reform bills are very sound. However, the function of the National Assembly is to look at the bills holistically, adjust where necessary .

You are missing something: the bill already indicated essential commodities to be food, housing, healthcare and education items.

That neans purchase of mobile phone, data, airtime, laptops, shoes, clothes etc are not essential commodities hence will be chargedat 15% VAT.

Maybe you didn't read the punch editorial that is the subject of the thread. I responded based on the information on the editorial.

Define luxury item? Is data, airtime luxury to you?

The only issue that I have with the Tax Reform Bills is the plan to increase VAT from 7.5% to 15% gradually by 2030.

I would prefer that the lawmakers should keep it at 7.5% for the next forseable future.

The government should focus on increasing the tax net coverage not increase the tax rates. There are lots of individuals who evade, avoid and are shielded from tax payment in Nigeria.

Kukutente23:
Outside of govt authorization? Which agencies are those pls?

Stop twisting my words. I said some government agencies are self funded. I did not say that they operate or spend without authorization. They generate income to fund the expenditures on their budget and remit the balance to government with a complete books of account including income and expenditure statement.

Securities and Exchange Commission, SEC, Central Bank of Nigeria, CBN, National Insurance Commission, NAICOM, National Pension Commission, PENCOM, Financial Reporting Council of Nigeria, and FRCN

https://proshare.co/articles/fg-directs-all-mdas-fully-funded-to-remit-100-igr-to-sub-recurrent-account?menu=Economy&classification=Read&category=Fiscal%20Policy

Does that answer your question?

Kukutente23:
How will a govt agency devise means of funding itself outside govt authorization? Govt agencies MUST be provided for by govt. Even the so-called self-funded agencies still get their funds from govt authorized or approved channels or mandates. You are making it look as if the aim is to privatize them.
We are discussing the tax bill. It does not have to be personal. Every Nigerian citizen is a stakeholder

There are a number of government agencies that are funding their budget annually and remit the balance of income to government account. These agencies will not be the first or last.

casualobserver:
When I was young Kano and Lagos were neck and neck economically….go and verify. Look at the disparity today. They don’t want development. Keeping their population jobless and poor means they don’t have to engage their brains as a leaders just collect allocation and chop and clean mouth.

Whatever the GDP of Lagos is now is what Kano’s should also be. Kano was a trading hub for all the surrounding countries in the Sahel and that made up for its lack of a sea port. But alas!! Sharia law and Almajiris is all we hear!

Tell them please.

People of Kano and North, can you hear this!

nwirinedu:
This is a lesson for all the states in the country. Provide a safe environment for businesses to thrive, dont force companies to relocate to Lagos, there is no reason why a company owned by a Northerner, Southerner or Easterner should site the headquarters in Lagos.

Truth is Lagos is very accommodating to businesses. States never encourage outside businesses to thrive the harass them and chase them out. A typical example is the new Dangote refinery that was originally set to be established in Rivers State, what happened?

They chased out. Now see the consequence.

The era of going to Abuja to share allocations of revenue generated by other states in coming to an end. Each to his own.

State creation should be based on the ability to generate revenue not on political sentiments based on leaching on others.
BAT means business.

Please tell them brother, say it loud so they can hear. I will help you amplify it.

NLCreator666:
https://dailynigerian.com/kano-assembly-rejects-tinubus-tax-reform-bills/

You can imagine - Kano state assembly is against the Tax Reform Bill.

Coming from a state that practices Sharia law where consumption of alcohol is prohibited but the Sharia states receive share of consumption tax and value added tax on the alcohol through the current tax income sharing system.

If a tax is not generated from your state, why would you want to share in it. Is that not pervertion of the tax system.

When the new Tax Laws are in place, you would have to improve tax collection in your states, drive FDI and local investment into your state to be able to generate more tax and earn more from the government sharing.

Where are the textile companies that were in Kano state? You killed all of them and you were OK with less companies operating or paying taxes in your states and now you are complaining because you have been reaping where you did not sow for years.

I remember that when Shoprite exited Kano, the major reason given was cost of doing business in the Ado Bayero Mall in Kano and the patronage. The mall was billing Shoprite in Dollars for Rent and Service charge, isn't that ridiculous. I can still bet that the mall owner were short paying taxes over the years, that is if they were not filing financial loss annually to enable them pay the least minimum Company Income Tax.

The breeze don blow, we don see fowl yansh

Let the North cry me a river on these Tax Reform Bills. I see through their Lamentations.

Kukutente23:
Well, the Senate has passed the bill for second reading and they have not come up with a bill for the alternative funding of those agencies have they? So let's not be preemptive and go with what's on ground now. What's on ground is that by 2030, those agencies will wind up. except alternate funding sources are created for them.

Every agency including the self funding ones still have to submit their budget to NASS for authorization. You can't spend govt money without NASS concurrence.

The government don't have to come up with alternative funding for those agencies. They will have to be self sufficient and device means of funding themselves. They should rather be generating income for government or at least to fund themselves.

I agree with you on the bold statement but your budget is open to more scrutiny when it is the government that fully funds your agency and your agency generates little or nothing to the government account.

Do you work in any of them or your benefactors work with them or you get contracts from them?

Why are you so worried about them? They will be fine and remain in existence.

Mightymanna:
I don't care what the bills says but Lagos and Abuja must not keep their Taxes after trillions of the National Commonwealth was invested there for over 50 years.

Please read about taxation so you can understand that taxes like Value Added Tax (VAT) and Personal Income Tax (PIT) are first, tied to the states where they are generated.

Kukutente23:
Ok.... so how do you think TETFUND and the other two will fund themselves if their main source of funding is removed and the acts enabling them is not modified to give them another source of funding.
It's just like NMDPRA and NUPRC you're talking about. They generate money through administrative charges and license fees. So just imagine the collection of those monies is moved to FIRS and they are given zero allocation. Won't they cease to exist? Moreso when the main responsibility of these bodies is management of those same funds that's about to be taken from them? What else will they be doing?
And I don't know what you mean by exit govt budget system? Are you saying their budgets will no longer be approved by NASS and they are free to spend as they wish from whatever they generate?

Let us reason with the bill, the proposed tax reform bill did not remove funding fully from TETFUND, NASENI and NITDFuntil 2030.

They can source funding from international and national grants, investments and endowment funds.

The education development tax according to the bill will subsequently be given to a new agency (Student Education Loan Fund) that is involved in student loans and AIDS in gradual percentages until 2030 when the agency will receive it fully.

The law makers (representatives and senators) are the ones trying to enact the Tax Reform Bills so they should know that they will also have to review the laws that established TETFUND, NASENI and NITDF with respect to funding and other pressing adjustments.

What I mean by exit government budget system is that they will no longer have provision on the annual budgets of Nigeria - they become self funding government agencies.

Bendeco02:
During Buhari's tenure, yorubas were the ones defending his flops on media

On this tinubu's regime, yoruba defends fellow yoruba

What we have now is sectional government.

Only people from his region supports and defend him.

His appointment is only his kinsmen

They don't know the region to concentrate their hate speech now. Whether North or East

The same zulum they praised few years ago. Some of them even predicted him to be tinubu's running mate before 2023. They are now attacking him because he said the fact.

For some of you southerners supporting this tax reform. Think and know who you're supporting.

Yoruba don't like anything that favours all or free and fair. They are self centered people. In years to come you will realise their true motive. Don't allow them deceive you with the south vs north rubbish

You are generalizing a statement, personal opinion, about a people, a tribe, without facts and empirical proof.

You called all Yorubas - self centered! How many Yorubas have you met or seen or studied?

Isn't that opinion of yours ridiculous and stupid but to say the least.

Come on, be reasonable here

Kukutente23:
So why did Temitope Ajayi accuse Zulum of lying? What will TETFUND, NASENI and NITDF still be doing when they will be recieving 0% funds? Is there a provision for them elsewehere in the bill?
It seems Temitope Ajayi is the liar who obviously did not even read the bill
Besides, I don't know how the bill will help small businesses when most of the taxes paid by small businesses are paid to states and LGs who will aggressively tax them more when they see how much VAT proceeds have plummeted

Do you know that there are a number of government agencies that are no longer funded by the budget? The generate income to fund their activities.

Do you know that some other government agencies are soon to exit government budget funding system. A typical example is NMDPRA, NUPRC etc.

Zero budget allocation to TETFUND, NASENI and NITDF does not necessarily translate to termination of the agencies except if they are not self sufficient. There are other means to generate income to meet their mandate and objectives.

Bizaustine:
You still evaded the question, zombie what are you doing with your miserable life😁

All and Sundry on the streets of Nigeria agrees that Tinubu is a clueless FAILURE a jobless tout like you that has no need to purchase fuel, use electricity, gas, etc and other logistics to run business is talking 😁😁 shut up and go and eat the mummy thank you that you came to this life to eat.
Your parents would definitely not be proud of feeding a goodfornothing lazy jobless tout like You.

Why all these insults?

You just want to make a point like him in a public discuss and you descend this low.

Come on people.

Sundaymessi:
So, Prof Zulu has not read the bill? Dey play.

It is either he read the bill but doesn't understand it.

OR

He is deliberately misinforming the public about it and misrepresenting the facts of it.

If the later is the case, then he has a clandestine desire to stop the bill? We would need to know the hidden reason to push for abortion of the bill.

Bizaustine:
This is even about Trust. The people don't trust where this is coming from bcus the person has shown without doubt to be a maximum clueless disaster. He is making a very big mess. He has become the biggest threat to the survival of businesses in Nigeria.

The Realities on ground makes it very hard for people to Trust this most nepotistic clueless worst President Nigeria has ever seen.

Reforms only work when people who have intentions to work for the people take charge.
How can someone who does not believe in Nigeria make Nigeria better.

Too many failed promises.

Did you say Tinubu is the worst President Nigeria ever had?

He has spent less than 2 years and you already have this conclusion.

What about Buhari government?

Editorialtimes:
Source: The Bureau Newspaper

We all know that NGOs (including churches and mosques) are exempt from company income tax and VAT. Howevee, they are expected to charge VAT on all payments to their contractors for jobs and supplies done for them and remit to the govt accounts through FIRS or state IRS.

They are expected to deduct Personal Income Taxes from their staff salaries and remit to the govt.

What is new about that? Has the NGOs, mosques and churches been dodging those taxes?

The only issue I have with the the tax reform is the proposal to increase VAT from 7,5% to 10%.

Botragelad:
Saying Trump doesn't read books is a cheap shot. Lol But, let's focus on the the part we here for.

BRICS is never a viable alternative to the US-led global order as you guys call it, because it's just a loose association of countries with different economic systems, political structures, and interests.
They're not exactly a cohesive unit, if you know what I mean.
The US has been using tariffs and other trade restrictions to protect its interests for ages. It's not like Trump invented protectionism. Lol

Now, about those tariffs. Yeah, other countries can impose tariffs on the US, but it's not a straightforward game of tit-for-tat. The US has a massive economy, and its trade relationships are large. Imposing tariffs on the US would likely hurt other countries more than it would hurt the US. China for one doesn't want that.

Whatever Trump plans to do is his issue. One thing about politics is you can never fully predict the outcome, so keep spectating. Every country will want to place it's interest first, sincerely that's how you survive!

Who are the Brics countries?

Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and UAE.

USA can't afford not to do business with China and India for the next forseable future. USA has special interest in UAE.

The dominance of the USD in international trade empowered the US dollar at the expense of other currencies.

We are experiencing the same problem in Nigeria too. That is part of the reason the executive decision was made to trade crude oil to local refineries in Naira.

I support the introduction of brics currency as a new international currency. The USA should welcome the introduction of the new international currency; welcome competition.

Simple.

Botragelad:
BRICS is a joke. Trump's a patriot(most of the time), through and through, and he's all about putting America first. You can't have your cake and eat it, according to him, - you gotta choose between the US dollar or watching your economy go down the pan.

It's their call. Trump's made it clear, he won't let anyone mess with the US dollar, and if you're not on board, you're on your own. You have a choice. Choose freedom🦅🦅🇺🇲!

Brics currency is a reality you and the USA must begin to accept and work with.

Trump can sanction and do whatever but it will not stop the brics. The dollar had it's time and USD will still be an international currency anyway but the brics currency will also be an international currency.

What exactly is it about that bill that the Northern Nigeria is afraid to see?

DeLaRue:
I used the word 'similar', not 'same'.

Prices cannot be same across a vast country like Nigeria particularly if you're transporting the petrol by lorries instead of through pipelines.

Petrol sold in the Norther states used to get a special subsidy to ensure their fuel prices are similar to what obtains in the South.

I believe Mr Buhari stopped that special payments several years ago. I stand to be corrected.

I would personally support if the government considers measures to ensure that people further up the coast don't have to pay significantly more for petrol. However, any special payment/subsidy specifically for this purpose will be abused and turn into another monster.

The best approach would be to transport the fuel by pipelines. But we know what will happen to the pipeline!

Honestly, Nigeria is mostly ungovernable.

Obvious solutions that work in all other countries simply don't work here.

It is not subsidy, It is a bridging fund packaged by Petroleum Equalization Fund (PEF) payable to Petroleum Marketers for supplies across states based on an approved templates of cost

I think PEF was merged with NMDPRA.

ufotunang:
...but NNPC does not want other petroleum oil marketers to buy fuel from Dangote refinery...NNPC is the only buyer,... that is wrong from NNPC

Honestly, I see no reason NNPCL should be the sole buyer of Petroleum products from Dangote Refinery. Infact, NNPCL should only buy the products meant for sale at the various NNPCL filling stations but they must not be allowed to sell to other Petroleum Marketers directly. Every Petroleum marketers like NNPCL should buy their products directly from Dangote Refinery and sell at their filling stations across Nigeria to the public.

Simple.

DeLaRue:
NNPC being the sole primary wholesaler may actually be a good thing.

It could herald more transparency.

1. Because it is such a modern production facility, Dangote refinery will know on a per second basis the quantity of fuel loaded by NNPC, and Mr Dangote has said the figures will be reported. This is good because if you have NNPC and other wholesalers loading, NNPC can use their usual magomago to hide their own loading figures.

2. The exact price that Dangote sells to NNPC will be known. The refinery was partly financed by foreign institutional lenders. The financing contract will have a reporting clause under which the refinery will have to disclose certain commercial information. So whether directly or indirectly, the foreign lenders will know the prices and that information will most certainly get out.

3. With NNPC being the sole primary wholesaler, it should be easier for NNPC to identify and ban (retailers) who sell at exploitative prices. So, basically, better control over retail price by government/NNPC. Price certainty and stability will benefit the people.

Finally, if reports that the FEC will be involved in setting final prices is correct, again this will bring better transparency because any shenanigans by APC will be leaked by the PDP and other opposition Governors. All Governors are members of the FEC. This too is good.

Overall, I think some of the proposals being reported may herald a new era of transparency in the petrol supply chain.

Let us be patient and see how things work.

I want to congratulate Dangote Refinery for the giant stride and achievements of the refinery. I want to appreciate Alhaji Aliko Dangote for his efforts, investments and business activities.

However, I wonder why Alh. Dangote opined that the Federal Executive Council will be the one to determine the price of PMS (Petrol) in Nigeria. It is strange that he has that orientation especially since Dangote Refinery is a private organization and Petroleum products marketers are largely independent and privately owned.

I also agree with the statement of Mr Gabriel Idahosa, President and Chairman of Lagos Chamber of Commerce and Industry, that Dangote Refinery has no authority or power to determine the pump price of PMS (petrol) or any petroleum products sold at filling and gas stations. Dangote Refinery can only determine the Ex-Depot Price of those products loaded at Dangote Refinery; notably Dangote Refinery can not also determine the Ex-Depot price of Petroleum Products imported or refined in Nigeria by other companies or entities.

The whole confusion about the pricing and Dangote Refinery's ex-Depot price is amusing and frustrating to me. Dangote Refinery is quick to do publicity and fanfare on the production of PMS; the story was all over the media but Dangote Refinery refused to communicate their ExDepot price per litre of PMS to the public or Petroleum Marketers. Isn't that ridiculous?

adedayourt:
If not that Nigeria is a messed up society how can somebody be making such nonsensic statements that the manufacturer of a product does not have power to fix her price.

What can't they tell that to producers of other products.

Somebody BUYS Crude from nnpc and converts to converts to finished product yet you open mouth and say he can't determine price.

All of una dey mard

you are not well informed

Who are these Pan Yoruba Group called Afenifere? What kind of stupid idea are they promoting?

Barrywilly:
This is a gross violation of their rights. You don't have any business or right to video them or expose them to the media. They own their bodies.

Really, do you know that prostitution is illegal in Nigeria?

officialwdhtvv:
Do you remember this advert from the 80's?

#wetindeyhappentv


https://www.youtube.com/watch?v=JrDGt46hT1s

Yes