lawani:
If you are a resource Rich nation, the template to follow is Norway's. Norway has only 5million people and exports over 2 million bpd of oil equi valent but taxes her people so high that oil income is less than 20 perce nt of revenue. Norway is particular about not depending on oil revenue but taxes. So go and understudy Norway

GavelSlam:


Their population relative to ours is ba huge factor.

We are 30 times theirs in population with our oil output being comparable.

Not to take away their productivity per capita.

lawani:

Implication of the population difference is we have 120million people to tax while they have only 3 million

alexhl:


Buhari is looking for ways to make live better for Nigerians, you are proposing Increasing Tax

When it comes to Tax in Nigeria, what we need is that those that are avoiding should pay their due. What is collected to get to Government coffers and it should be well utilized on Projects and programmes that benefit Nigerians.

Blue3k:



Nobody said you need to increase tax rate instead increase tax base. Most of money comes from oil sector. The non oil sector contributes a measly amount. Yes the money had to be used judiciously and we need good economic policies to spur growth. This low 2% growth is pathetic.

lawani:
If you are a resource Rich nation, the template to follow is Norway's. Norway has only 5million people and exports over 2 million bpd of oil equi valent but taxes her people so high that oil income is less than 20 perce nt of revenue. Norway is particular about not depending on oil revenue but taxes. So go and understudy Norway

alexhl:


Read bold below

Blue3k:


Ok noted. You wouldnt need 50 percent take rate like Norway to accomplish this feet of it only being 20% of revenue. The non oil sector is vastly bigger. How the tax structure should be arranged is the issue.

LordAdam16 drop ur knowledge bomb already.

LordAdam16:


Would anyone who can actually implement anything read it?

When we talk about taxes, we should note that FIRS claimed to have generated N4t in taxes in 2017. If FIRS generates N4t, Customs generates N1t, NNPC generates N1.5t. That's N6.5t from three MDAs alone. Add NLNG, NPA, and CBN; and it becomes a mystery why we'd run a N2t deficit for a N8t budget and still not be able to hit 60% utilization of our budget with the claims of funds not being available.

Nigeria as it currently operates in incredibly wasteful, inefficient, unproductive. And simply increasing taxes or the tax base will solve nothing. It'll only further enrich the political class.

How is it that MDAs generate revenue, barely remit anything, then still add expenditures to the national budgets and claim not to receive funds.

Then let's not talk about the states. We are not ready as a country to develop. All we do is rant every election period and default to the status quo for another 4 years, rinse and repeat.

For instance, OBJ, Yar'Adua, GEJ, and Buhari have spent a combined $30b+ on the NIPP alone. That's for the generation and transmission of 4,000 MW over the past 10+ years. Yet no one knows when it'll be complete. It's like a bore hole. Then someone would wake up and say we should increase taxes or tax-to-GDP. When we've not addressed these bottomless pits that have been swallowing funds since 1960.

Any company that's been run like Nigeria will not last for up to a year. And the shareholders of such company will hire assassins to eradicate all the decision makers in the company because of how badly the country is being run. And this is not about APC or PDP. This is about the structural inanities of the country and how the populace is complicit in letting things continue this way.

We should iron out the basics before we start following templates.

-Lord

mrvitalis:


U forgot the federal government get 55% of those revenues only

LordAdam16:


Point noted, and the budget for all 36 states in 2017 was N7t. FG budget was N7t. 60% implementation requires N4.2t.

Yet somehow, NPA spent N278b of its N288b revenue in 2017.

Or maybe the sharing formula is why implementation of capital expenditure was only 21% in 2017.

Let's continue giving excuses.

-Lord

Blue3k:
You're right Nigeria doesnt generate enough revenue. They're almost too dependent on oil revenue. Its so bad the Nigeria has on of the lowest tax to GDP ratios in world at under 6%. We need a tax reform policy and stronger collection.

mrvitalis:


How much do u think should be used to run a port authority

Until we make up-to 30 trillion naira we won't see any real developments

Democracy is not an efficient system of government any where in the world

We are even by far more efficient than USA

asuustrike1:

There are tax reform policy already in place by this government. One of them is the voluntary asset income declaration scheme introduced by the ministry of finance which had elapsed. The scheme allowed taxpayers to voluntary declare their assets and income. In doing so the revenue generated and collected will be high hence contributing greatly to the GDP. Was the scheme successful? Partially. The political will was not there hence few taxpayers obliged to declare. Reforms are there but the insincerity on the part of the government had taxpayers not to comply to tax. Basic amenities found in most developing countries are inadequate over here. You don't a taxpayer that continues to power his business, provide water and security for himself to comply fully with Nigeria tax laws.

LordAdam16:


You've made my point for me. With around N15t in revenue we're using microscope to look for the developments. It is when it increases to N30t that we'd magically see them. This is the complicity I'm talking about. Keep making excuses for them.

And I'd like to see the data that shows Nigeria is "far more efficient" than the US. Cos last I checked, the US has a Government Accountability Office that reports directly to Congress; and Nigeria has failed to publish quarterly budget implementation reports mandated by law stretching back to 2017 fiscal year.

-Lord

mrvitalis:

Oga we make less then 8 trillion as a country

With a wage bill of over 450bn every month at 18k minimum wage, debt service of over 1.5 trillion a year,

How much do u think is left for development and with democracy having 50% efficiency what can 1 trillion in a year do for 180 million people

LordAdam16:


We don't make less than 8 trillion and wage bill is 150b at 18k minimum wage. Know your figures.

Still waiting for that data.

-Lord

mrvitalis:


Do u know how much bus driver pay to local touts?
Why can't we tax this money and police provide protection for them

mrvitalis:

That's only the federal government wage bill

Add state wage bill which averagely 3.5bn ....plus local government wage bill most states would have 5bn wage bills or more

What's the average money shared a month in Nigeria by the federal, state and local government

LordAdam16:


Point noted, and the budget for all 36 states in 2017 was N7t. FG budget was N7t. 60% implementation requires N4.2t.

Yet somehow, NPA spent N278b of its N288b revenue in 2017.

Or maybe the sharing formula is why implementation of capital expenditure was only 21% in 2017.

Let's continue giving excuses.

-Lord

Blue3k:
You're right Nigeria doesnt generate enough revenue. They're almost too dependent on oil revenue. Its so bad the Nigeria has on of the lowest tax to GDP ratios in world at under 6%. We need a tax reform policy and stronger collection.

Blue3k:
You're right Nigeria doesnt generate enough revenue. They're almost too dependent on oil revenue. Its so bad the Nigeria has on of the lowest tax to GDP ratios in world at under 6%. We need a tax reform policy and stronger collection.