kelvindj98:
T PAIN is nothing but a puppet of the west

MadPolitician:
When the taxes ultimately increase, and the pain becomes unbearable for Nigerians, the same world bank will tell you that the decision to raise taxes, was a local one made by Nigeria and not from the world bank. Yet they are busy now arm twisting a desperate and clueless government in Abuja

bixton:



This is one thing that gets interesting to be true.
That the Nigerian government needs to agree to increase tax and do it before it would be able to access loans from the world bank?
Is this how it has been done or this is a new format even when we have one of our own as the world bank president?

Elsueno:


Nothing new, dis exactly how IMF/world bank operates. All developing countries with resources & incompetent kleptomaniacs as leaders get similar conditions. The leaders Syphone d loaned money back to western bank accounts, while the IMF/WB gets their money + intrests through discounted or free natural resources( minerals, crude oil, raw materials etc). Every body wins, EXCEPT THE ORDINARY CITIZENS.

CodeTemplarr:
Doing everything humanly possible to access the external loan yet the Lazy NLC will want to blame IMF for our woes. if you are poor and lack funds, why go to saudi arabia every year to stone spirits? The NLC know their members who do nothing but get salaries are likely the next to get the chop after subsidy so they are fighting for their monthly stipends.

The ARMOR programme includes three main result areas: implementing tax and excise reforms to increase Value-Added Tax collections and excise rates on health and environmentally friendly products; strengthening tax and customs administrations to enhance VAT compliance and audit effectiveness; and safeguarding oil and gas revenues by increasing transparency and net revenue contributions.

MadPolitician:
When the taxes ultimately increase, and the pain becomes unbearable for Nigerians, the same world bank will tell you that the decision to raise taxes, was a local one made by Nigeria and not from the world bank. Yet they are busy now arm twisting a desperate and clueless government in Abuja

ogododo:


https://punchng.com/fg-plans-tax-overhaul-to-access-750m-wbank-loan/

richmond500:
Taxing us just so u could borrow, is that what I read abi I missed the point?

ehikwe22:


Your comment is too naive. You talk like someone that can't tell his right from his left

kelvindj98:
T PAIN is nothing but a puppet of the west

huptin:
He who pays the piper dictates the tune.....you can't be collecting money from the world bank and be claiming independence.

Nigerians have to understand that until you reduce your indebtedness to a manageable level, you will continue to obey IMF/World bank.

They are now our de facto policy maker. This has nothing to do with Tinubu, it is what it is!

kelvindj98:
T PAIN is nothing but a puppet of the west

grandstar:


Was it not under a World Banker that Nigeria saved $25bn in an Excess Crude Account? Under her, the foreign debt was reduced from $35bn to $5bn.

Nigeria's tax revenues are barely 10% of GDP compared to the minimum of 22% that Charles Soludo said a country must have. Ivory Cost collects 26% of GDP. The 10% is one of the lowest in the world

The country is too reliant on oil and gas for a large part of revenue. The overdependency on it a major reason why Nigeria suffers when the price of oil goes down. Oil and gas accounts for about 70% of government revenue.

The loan being taken is for the purpose of increasing revenues as a percentage of GDP by 2.5% or so.

The monies would be released in tranches. For any tranche to be released, the government must achieve a certain milestone for the purpose of increasing government revenues.

FourQu:
Widening the tax net

A campaign promise that tinubu loves to work on and deliver promptly to the masses