₦airaland Forum

nairalanda1:
How can we enjoy anything when our tax to gdp is low, and 70% of the population does not pay tax?

You want us to spend imaginary money, old man?

U re shouting imaginary money..
Yet...politicians has 20 to 30 aides being paid....
Yet ...Senators keep on collecting Constituency Project allowance....
runnin into several millions ...with no projects.....
Yet...Governors collect monthly security allowance with no value added...
Let FG start by reducing the cost of governance...
And tax the rich and elites.....
Then they will have the moral justification to increase tax..
Lastly..Nigeria is the poverty capital of the world...
And ur submission is to tax 2/3 of Nigerians that lives on less than $2 per day...
U 4 kill them now...cox tax to GDP is low..
Nonsense....

[quote author=nairalanda1 post=124609244]How can we enjoy anything when our tax to gdp is low, and 70% of the population does not pay tax?

You want us to spend imaginary money, old man?[/quo

henrimoto:
How does one fund from Nigeria ?

Google is your friend

debosalau:
Is there a way around creating account with them?

Try these..if you dont mind their pricing

TradeZero
Choice Trade
LightSpeed

nairalanda1:
Because we pay too low a tax and too low utility bills for the government and utility companies to do those things for us themselves.

But anytime it is suggested you pay cost reflective power or water bills...you will shout poverty...yet you waste money for borehole., and generator and fuel for the gen at a higher rate than you pay for power, even with estimated billing!

Why will someone pay for a service he did not enjoy....?
What have they done with the low tax they collected ?
Is it not the same leaders that are sharing dollars during election?
Is it not the inefficiency of govt in service delivery that caused people to seek for alternatives in the first place...
For 62yrs .
Nigerian leaders could not put a system to refine crude oil for our usage...
Nor have a clear rail network to connect the six regions in the Nation....
And you expect the same leaders to be fair to its citizens to pay a cost reflective bill...
How do you think they will be able to fund their exotic lifestyle if they dont push it back to the masses?
We still have a long way to go...

olawonder:
In Nigeria we pay the lowest for most services, including even tax.

We pay the lowest tax...
But we do everything for ourselves...
We buy generator... we fuel the gen...
We pay for transformer ...we still buy wires to connect...
We dig borehole... we even repair roads...

toshie:
Despite the inflation, Nigeria remains the most affordable country to live in globally. However, the primary concern lies in the insufficient money circulation within the system. Instead of engaging in business transactions, people tend to opt for safer options like investing in foreign countries through Japa or simply keeping their money in the bank.

How do you engage in business transactions ...
when the environment is volatile...& uncertain...
From double taxation..from FG..SG...LG...
Touts ...Agbero etc
Incoherent and inconsistent regulations.....
to high cost of PMS... Diesel...and
Cost of doin bizness...
Go and read about the Zimbabwe farmers that came to Naija...
Most of them closed shop and return back to their country...
I doubt if you ever run a bizness....

debosalau:
Is there a way around creating account with them?

No

Lexusgs430:
Wetin una do all this international brokerages...........🤣😂

. Very sad. I managed to open Etoro back in the days. They later closed it with a ban on Naija. I hope Tinubu can bring d required confidence back to the int comm. Buhari caused a lot of havoc for the system.

Lexusgs430:
Webull is also a good platform........

Webull is not available for us resident in Naija.

Elsueno:
Wetin u dey talk? Am just pissed off d so called local apps are fleecing my hard earned $, if not outrageous $1 to $0.5 commission on each trade, it's $1 maintaince fee! Some shameless ones collect even both fees, So either u do very large transactions or watch them sypon d money slowly.....

By d way, wat da u think we dey spend for 9ja? No be naira? Even if u get $$ or stocks U most convert am back to naira to spend for market

Those of us that were able...
to open with Trading212 back in the days were lucky...
Nothing as smooth as zero trade commission...

Streetinvestor2:
So what is the way forward for the naira.And for inflation, it is happening everywhere. The prices of goods in UK and USA of recent is increasing too..Then that of Turkey na another story.If you do you homework well .You should get nothing less than 30% from investment in ngx.That is reason I put BE in some of my sales or post so newbies know it is a marathon

Earn in dollars..
And convert it to Naira...
That should kill the Nigeria inflation...
If u can make $500 in a month...
And convert it to Naira..
U wont have a problem with Naija inflation...

Godisfaithful:
Sir, I appreciate your analysis. Forget about what Nigeria govt is telling you or economic data. Naira against $$$ will cross NGN1,000 before the end of August/September, with this wasteful govt in power. Till then, we are waiting!

Absolutely on point...
There is no harm in trading foreign stocks...
And also an active participant on the NGX....
Tinubu is going to handover back to the North...
We are going back to Square 1...

Ganjafama:
Can you teach me? Please I really need to earn in dollars because the way the country is going I no just understand.

Follow this thread..on Nairaland..
it will help u and read wide..
if you have an enquiry..post it on the page
Enough expert on the forum to answer...

Nigerian Stock Exchange Market Pick Alerts
Us Stocks Pick Alert

Ganjafama:
Are you doing all these you just mentioned?

Yap

This is reality...
Paychecks and salary cant match inflation.
Bizness are going to shut down due to taxes and
Cost of PMS....

2 Quick things to do.....

1.Try and grow your own food..
Vegetables can be grown within a month
Yams and Potatoes can be grown in cement bags...
Rice has a 3 months cycle...
For cities dwellers. Leverage on nearest villages to farm...
Lastly, buy grains during harvest and store for consumption...



2. Earn in foreign currency....
Go online with ur laptop and phone
Forex and Crypto are good ways to earn..
Play the foreign stock market...NYSE NASDAQ, LSE...
D NGX is another platform to stay afloat.

My 2Cents

josielewa:
Another money scenario (real life)

Mr A and B got retired around 2006 with a gratuity of 35 million naira each...

Mr A used the privilege in obtaining petrol and gas station permit franchise with conoil in looking real life matters

Mr B built 10 blocks of 3 bedroom flats in lekki...

From the above matter, the rate of turnover of the oil and gas sold will determine the profit made by Mr A, while Mr B profit is fixed for the year..

I can even build ashawo quarters of like 40 rooms with 3k daily returns on each room in same lekki...40x3k is 120k daily x 25 days is 3million naira monthly x 12 is 36 million...meanwhile normal house will never give you 36 million naira yearly...

Money that is meant to start a mini factory will be used in building big houses that will end up being locked up because nobody is staying there.. all over Abuja, you will see them even in south east...
omg
let me tell you all a real truth..money generated over the useful life of the building can never be the same as the amount of money spent in building that same structure in most cases because inflation will eat deep into the rent, you can only meet at equilibrium or a bit above equilibrium except in few exempted areas like lekki etc...

Each investment class has its own merits and demerits...

Bizness can collapse as a result of so many factors....
Ranging from govt regulation, unfavorable biz environs etc...
Despite the rate of t/o and profit...

Building gives you a yearly income that you can plough into other ventures...
A year rent of N36m can be used to start a bizness and stabilize a bizness over a period of time...

Balance is the key...Have some estate and have a bizness...

pluto09:
We have taking the first step to stir the country from a self destructive path which is to generate more revenue.
The government at the center has practically been running her affair on borrowed funds. We barely generate enough to service our debt. We definitely can't continue like that. With more money accruing to the FG, my expectations is that we will reduced the rate at which we borrow money to run our budget. If we can generate enough to cover our recurrent expenditure, then we will be on the right path.
We can then begin to look for creative and sustainable means to fund our infrastructure.

Crus of the problem in Naija system...
is not revenue generation...
Bulk of the revenue still goes to pockets..
of the politicians and their cronies...
Even if we dont borrow... its still the same...story...
Over 62yr of existence ..
We are still battling with poor road networks...
poor power supply.....No rail network.....
Basic things we need as masses....
And successive govt cant get it right ...

FacilitatorLekk:
Economy is continuous, some of those money will be given to business men and investors to put into production activity, as long as we can use our money and produce things and into investment we are good, it will balance out and expand the economy. It doesn't mean all the money withdrawn from CBN will be consumed, some will go into investment ventures and businesses via loans, to create more value for the economy.
We must endeavor to export more as well, earn from other nations, but importantly, we must buy and use what we produce, to maintain our wealth and build it. You are looking at it from a narrow perspective.

Those money will be used to fund...
bills of politicians and their aides...
Thats the major irony of the Nigerian system...
Over 62 years of existence...
we are still talking about exportin more.
Poor road network...non existing rail systems. ..
Subsistence farming etc...

Out of DangCem
2Day is the last day
for the 2 days share buy back...

agbekoya:
It worked on. I have been able to fund my Trading212 using GTB $card, funny that I have tried a few other solutions except this and even send them complaint email to which they replied I can't use cards issued by Nigeria banks. Even my UK bank card was rejected on the basis that I registered a Nigeria address & need to change my add to UK. T212 has stress me in this aspect o.
Thanks again7 for this dolution.

We thank God...
Peace..

agbekoya:
I have been using Trading212 for some years and was able to fund and withdraw with my GTB Usd card till they stopped it last year. At first using Google pay provided a way round it but that was also stopped and their customer service response wass that they have blocked cards issued from Nigeria banks. It may not be solved by using a VPN as it' is not tied to your physical location rather the card number as your card number will alwaays show the country where is was issued. While on a recent visit to the UK I tried using my Nigeria card and it was also reject - my authentic experience. Anyone who has successfully funded Trading212 using a Nigerian bank issued card in the past one year can give a feedback here.

Try and use a VPN..
And give us a feedback...
I fund every month ...

agbekoya:
Presently if the dollar card was issued by a Nigeria. Bank Trading212 will reject it.

Absolutely wrong...

Cokech:
Please any idea how I can fund my trading212 account as cards are no longer working?

Use a VPN...
And a dollar Card (Savings or Current)....
Use GPay for funding..

ebuka1997:
Dollar spending on Naira cards are coming back.

Nice one...
My Aboki will not see me again