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The 10 Big Benefits Of " VAT Revolution" - Politics - Nairaland

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The 10 Big Benefits Of " VAT Revolution" by Twist4u: 10:40am On Sep 10, 2021
The "Wike VAT revolution" that's unfolding right before our eyes and in our time is the beginning of a new and prosperous Nigeria.

Here are 10 BIG BENEFITS i can see right now.

1. It will End the Major Security challenges of Nigeria without a shot of the Gun. Simple and straightforward.

2. It will Break the Abuja power and influence on state.

States will have much money in their Control, than the slavery amount they run to Abuja every month to collect. Therefore they will not need to beg Abuja for money any more. As what they went finding in Sokoto, is now in their Shokoto.

3. There will be major migration of people:

Naturally people move toward locations perceived to have a better potential for their economy prosperity.

State like Lagos, Port Harcourt, Kaduna and Kano will experience economy boom and population boom.

They will now have enough money to building infrastructure that attracts investors and improve the purchasing power of her people.

This will result to creating more jobs opportunities and people will definitely come and take up the vacancy.

4. State policing will become the order of the day

And the Abuja centralized policing structures will be broken down.

Federal government will not have the money to fund their activities.

As state policing will become the order of the day. And they will be highly needed at state level.

State will now have the financial capacity to fund its police. This action will reduce security problems to its minimum

5. Most Agencies of Government and Ministry will be made Redundant, as their useful will be needed at state level.

Example for state like Lagos that generate over 400 billion, will definitely need more hand to collect VAT Monthly.
This will mean expanding structures and capacity to local governments council level.

And as such the services of Agencies like FIRS will not be needed at Abuja any more. Their expertise will be highly useful at state level.

6. Hardworking state will experience economy boom and the lazy states may collapse or Merge with Hardworking state

Of course Hardworking state will experience More money into the state treasury, more infrastructure, attracts more investors and enjoy economy prosperity

On other hand,

The Lazy state will experience less money generated into its treasury, less infrastructure, less investors and poor economy to fund its activities, and therefore the closer it is to collapse or request for merger by Hardworking state.

7. Federal government will benefit the most

because, all states will still pay the mandatory 15% generated from its VAT to the Centre. As government will now focus on its primary responsibility to fund the military, foreign interest, build interstate bridges to connect state, Health care and Education etc.

8. State can now exercise its freedom of existence independently.

State can now decide to make laws they are comfortable with: example Anambra state can claim its a Christian state, that every street must have a Church.

on the other hand, Kano State can Claim that its a Sharia state, that selling of Alcohol is Haram and totally ban.
No Complain.


9. Nigeria will experience astronomical economy Growth.

Competition Facilitate growth.

As state compete with each other, improved policy will be created to attract investors to each states.

States on the other will focus on developing infrastructure to be at advantage in competition.
And This will result to astronomical economy growth and prosperity

10. All state Attorney general and state legislatures should as a matter of urgency pass this law like Lagos have done.

Doing this will immortalized their names in the mind of their people and the history of Nigeria for standing up and be counted when it matter most.

Conclusion

You can add other benefits
Re: The 10 Big Benefits Of " VAT Revolution" by Nobody: 10:52am On Sep 10, 2021
And as such the services of Agencies like FIRS will not be needed at Abuja any more. Their expertise will be highly useful at state level.

What do you mean by the above bolded statement?
Re: The 10 Big Benefits Of " VAT Revolution" by Nobody: 11:55am On Sep 10, 2021
Let's start with the exclusive list..

Lots of reforms are needed to empower States

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