But, reacting to Nigeria’s failing tax ratio to GDP, a Development Economist, Mr. Odilim Enwegbara, said the development was confirmation that the Minister of Finance was yet to understand the kind of tax policy Nigeria requires to get the country off oil reliance and diversify the economy.

ivandragon:
people say if GEJ was still president, Nigeria would have still entered recession.

I always differ because even though there were obvious signs of distress in the economy, investors did not panic because they knew that the administration had the capacity to properly manage the situation.

most of the shocks experienced late mid 2014-early 2015 were as a result of the forthcoming elections & the violent negative vibes from the opposition which was promising parallel governments & spilling blood of dogs & baboons.

investors were naturally cautious & toned down their activities with the mindset that after the elections & when normalcy returns, activities will ramp up.

when GEJ lost they were worried, but when they saw he was going to handover peacefully, they were upbeat & this explained the 'bounce' in economic activities in the first 1-2 months of the new regime.

however, rudderless policies, gross incompetence, unguarded comments, delay in setting up a formidable governance team (& a hopeless one when constituted), disregard for the rule of law etc, have since made investors (local & foreign) run for cover.

Pavarottii:
"The annual summary of tax collection from year 2000 to last year indicates that the highest collection was recorded in the tenure of Mrs. Ifueko Omoigui Okauru, with the sum of N5.007tr in year 2012 following hi-tech and revolutionary tax administration reforms introduced then".

Now compare that to the partry 1.2trillion; even wen they thought they employed a competent fellow TUNDE FOWLER.


"Nigerians will praise me when I step down"-GEJ.

"The truth has 3 stages; Firstly, it will be ridiculed; Secondly, it was vehemently opposed; Thirdly, it will be accepted with self-evidence.

However, a top insider of the tax agency spoke to The Guardian on condition of anonymity, because the collection figure is still being held under wraps by the management.
He confirmed that the actual collection figure that has hit the agency’s tax remittance portal, being held at the Central Bank of Nigeria (CBN), is N1.2trillion, noting that there are still some collections on behalf of the Tax Agency by sister agencies like the Nigerian Customs Service and from the Airlines, which are yet to hit the records.

The official confidently maintained that by the time those collections are reported, the figure may ramp up to over N3 trillion, representing some 75 per cent of the N5trillion, the agency set for itself.

MadamExcellency:


You captured my thought before I could type it.

Did you steal this this from me?

ivandragon:


please o! the 'plagarisers' are in the other room.

however, it is easy for those who desire to expand their knowledge to conduct research.

at the end of the day, the figure will probably be higher,... max, an extra N1tr will be added which is still a far cry from what obtained in the recent past.

by 2018, things will improve, not because this regime will get it right, but the exigencies of the 2019 elections will force them to employ cosmetic measures for the few months to the election.

& that 'improvement' will only be relative to their own past (present) failings... for instance, the price of PMS will hit N200-N250 soon, but by late 2018, they will reduce it to N160-N170 then tell Nigerians how they have 'brought down the price of PMS'...

DropShot:


It's impossible to know what exactly Nigerian earned from taxes in 2016 by the first week of January 2017.

This report is not worth the paper on which it was made.

amAZEing:
It is like a simple maths...