Just40:
@vankelvin

I'm sure you're happy with what the Weija Dam authority have done to the people of Weija Tetegu because I am very happy.

This time round they had no mercy on them.

I'm happy because well to do people who can put up such mansions like them should have no business fighting tooth and nail in court to build in the spillway of a dam narrowing the flood plain of the river.


https://www.youtube.com/watch?v=L2EGmKAqEXg

I was just telling a friend that I don't have pity for those people. All attempts to prevent them from developing the land fell on dead ears. I don't pray for the worst to happen but the day one of the dam gate will break they will regret ever disobeying authorities.

GeneralDae2:

In my opinion, our economy is even way more than 400 billion dollars. It should be close to 750 billion dollars. Only Nigeria is stopping Nigeria now with our corruption.
Nigerian non oil tax from FIRS in 2021 was 4.36 trillion Naira ( over 10 billion dollars in 2021) which is excluding oil and gas, but still very low. Kenyan total tax was 17 billion dollars for a non resource country that should be dependent on taxes, it's still very low.

Nigeria needs to collect more tax from its non oil sector. It's not about increasing tax but but widening the tax net for more capture.
It's already happening but not fast enough. For example, 2021 non oil revenue is double that of previous year at $10bn. Oil revenue was $20bn. That's a total of$30bn.
It's still almost double what Kenya makes. Kenyas total revenue is $17bn.

obaaderemi:
Nigeria needs to collect more tax from its non oil sector. It's not about increasing tax but but widening the tax net for more capture.
It's already happening but not fast enough. For example, 2021 non oil revenue is double that of previous year at $10bn. Oil revenue was $20bn. That's a total of$30bn.
It's still almost double what Kenya makes. Kenyas total revenue is $17bn.

Kenya ordinary taxes are approaching 20b..total revenue are more than 20b.Your zoo has a long way to go

Last year it was 2.03 trillion kshs that almost 20b in ordinary taxes alone..this year it's up 20 percent almost....and we have not added non tax revenues.Ruto gov intends to move it 30B ordinary revenues in next year https://www.google.com/url?sa=t&source=web&cd=&ved=2ahUKEwjp36DHvM36AhUMw4UKHTynCiYQFnoECBMQBQ&url=https%3A%2F%2Fwww.kra.go.ke%2Fnews-center%2Fpress-release%2F1752-kra-exceeds-revised-target%2C-records-highest-revenue-growth-in-history%23%3A~%3Atext%3D2.031%2520Trillion%2520for%2520the%2520Financial%2C(FY%25202020%252F2021).&usg=AOvVaw0sd9dUqbuXGoYGG1AYy2oq

Nairobi non-motorized transport improvement continues into estates

Kenya Urban Roads Authority - Improvement of roads in Kileleshwa, We have constructed walkways and improved existing carriage ways along 15 Roads totalling to 8 Kilometers.

rvp2018:
Last year it was 2.03 trillion kshs that almost 20b in ordinary taxes alone..this year it's up 20 percent almost....and we have not added non tax revenues.Ruto gov intends to move it 30B ordinary revenues in next year https://www.google.com/url?sa=t&source=web&cd=&ved=2ahUKEwjp36DHvM36AhUMw4UKHTynCiYQFnoECBMQBQ&url=https%3A%2F%2Fwww.kra.go.ke%2Fnews-center%2Fpress-release%2F1752-kra-exceeds-revised-target%2C-records-highest-revenue-growth-in-history%23%3A~%3Atext%3D2.031%2520Trillion%2520for%2520the%2520Financial%2C(FY%25202020%252F2021).&usg=AOvVaw0sd9dUqbuXGoYGG1AYy2oq

The main reason our taxes are low is that Agriculture is exempt from VAT and has been left 90% informal. A lot of our agricultural produce are equally shared in Niger and Chad and due to lack of advanced logistic infrastructure, they do not find their way easily to Southern Nigeria. This is the major reason for large imports and food inflation in Nigeria.
Niger and Borno State in Nigeria combined are predominantly agricultural states. If you add Taraba, there is almost nothing not produced including Tea and Flowers in large quantities but as huge as all these are, they are left informal, not captured in taxes, and even given incentives.

The second biggest part is informal trade which encompasses agriculture and goes beyond agriculture. This is the bane of the economy and the largest of its kind in Africa (millions of sme's) making up 45% of all informal sme's in Africa. This again needs to be encompassed into the tax net.

The third biggest part of our gdp are services like financial services (fintech and Banking) and then telecoms. More needs to be done to expand the tax net there in order to even reap 10% of the potentials we already have there.

Manufacturing is the fourth largest aspect of the economy, oil and gas make up the fifth largest aspect ( where we are no longer even top ten oil producers in the world) and then Real Estate makes up the 6th largest part of the Nigerian economy. But Oil and Manufacturing are the main contributors to the tax net from the top six and their percentage of gdp are small.

So we make around 25-30 billion dollars on average in terms of total tax and just 10 billion non oil tax on average which is very small.

Nobody I am aware of taxes agriculture. Not kenya. Not any country. Generally agricluture worlwide is subsidized and it's main purpose is to produce food for own consumption and maybe export.

What you tax are the agro-processing (the bulk of manufacturing) - where people convert agri products into stuff you buy in super-markets and markets.

The biggest tax group in Kenya is PAYE - this is mainly the 3 million private formal sector workers and the 0.7M gov employees. I dont see any major difference btw Kenya and Nigeria in PAYE - just maybe you dont have that big private sector?

Then you want to tax everything else that is imported - this custom taxes - and Nigeria should be able to do that in Lagos and other ports - and also if it can seal all the porous ports.

Nigeria before even it taxes more - should first end that fuel subsidy - it can alone raise gov revenues by 12B dollars.

For kenya - opportunity exist to tax the wealthy (by removing tax concession/reliefs - state capture)- another 5B dollars - and also to double the VAT collections (by embracing technology - know everyone doing invoicing must electronic immediately submit the same to KRA - Rwanda did this - and they collected double the VAT) - by another 5B dollars - this we can do in a year - improving our tax collection from 20B to 30B.

Otherwise kenya has pretty much maxed out it's tax potential. But generally we can do 25% of tax to GDP.

Nigeria if it gets to 20% of GDP - would be collecting 80B dollars (if GDP is not cooked) - and it's budget will rise to even 130B dollars. Then you will stop being a ZOO and will start fixing things. That would be level of South Africa budget but to gather for 200m people.

GeneralDae2:

The main reason our taxes are low is that Agriculture is exempt from VAT and has been left 90% informal. A lot of our agricultural produce are equally shared in Niger and Chad and due to lack of advanced logistic infrastructure, they do not find their way easily to Southern Nigeria. This is the major reason for large imports and food inflation in Nigeria.
Niger and Borno State in Nigeria combined are predominantly agricultural states. If you add Taraba, there is almost nothing not produced including Tea and Flowers in large quantities but as huge as all these are, they are left informal, not captured in taxes, and even given incentives.

The second biggest part is informal trade which encompasses agriculture and goes beyond agriculture. This is the bane of the economy and the largest of its kind in Africa (millions of sme's) making up 45% of all informal sme's in Africa. This again needs to be encompassed into the tax net.

The third biggest part of our gdp are services like financial services (fintech and Banking) and then telecoms. More needs to be done to expand the tax net there in order to even reap 10% of the potentials we already have there.

Manufacturing is the fourth largest aspect of the economy, oil and gas make up the fifth largest aspect ( where we are no longer even top ten oil producers in the world) and then Real Estate makes up the 6th largest part of the Nigerian economy. But Oil and Manufacturing are the main contributors to the tax net from the top six and their percentage of gdp are small.

So we make around 25-30 billion dollars on average in terms of total tax and just 10 billion non oil tax on average which is very small.

rvp2018:
Last year it was 2.03 trillion kshs that almost 20b in ordinary taxes alone..this year it's up 20 percent almost....and we have not added non tax revenues.Ruto gov intends to move it 30B ordinary revenues in next year https://www.google.com/url?sa=t&source=web&cd=&ved=2ahUKEwjp36DHvM36AhUMw4UKHTynCiYQFnoECBMQBQ&url=https%3A%2F%2Fwww.kra.go.ke%2Fnews-center%2Fpress-release%2F1752-kra-exceeds-revised-target%2C-records-highest-revenue-growth-in-history%23%3A~%3Atext%3D2.031%2520Trillion%2520for%2520the%2520Financial%2C(FY%25202020%252F2021).&usg=AOvVaw0sd9dUqbuXGoYGG1AYy2oq

The problem is not tax collection its expenditure 50% of all tax revenues is lost through corruption

Had underrated this guy, Ruto. But as things are, he's a strategist. A performer.


Safaricom has officially penetrated the Ethiopian market. That is a great move!!

https://www.reuters.com/business/media-telecom/kenyas-safaricom-launches-network-ethiopia-first-private-operator-2022-10-06/

GeneralDae2:

The main reason our taxes are low is that Agriculture is exempt from VAT and has been left 90% informal. A lot of our agricultural produce are equally shared in Niger and Chad and due to lack of advanced logistic infrastructure, ..

Wrong, or outrightly lame excuse.

If you start taxing "some of " your agricultural products, then you're bound to fail. It's the same as subsidizing agricultural Output and overlooking the inputs, wrong strategy!

If you asked me, I would say you have huge unproductive population that's why on overage, your VAT outside Oil is below average.

Shaytun:


It cost 1.5 dollar to create an account.

Don’t be intentionally obtuse

Then why are 49% of adult Nigerians still doesn't have bank accounts?

Shaytun:


It cost 1.5 dollar to create an account.

Don’t be intentionally obtuse

Then why are 49% of adult Nigerians still doesn't have bank accounts?

vankelvin:


I was just telling a friend that I don't have pity for those people. All attempts to prevent them from developing the land fell on dead ears. I don't pray for the worst to happen but the day one of the dam gate will break they will regret ever disobeying authorities.

I don't pray for that day but I want to see the violent force of velocity

Some of those stats people just quote out of thin air. Yes there is corruption but 50% sounds way too high. Wage bill alone is almost 50% (way above the recommended 35%) with teachers taking the lion share. You cannot steal wage bill (unless you have that many ghost workers). That leave the 50% to be split btw recurrent expenditures (office supplies) and development vote. I am assuming debt is being refinanced. So essentially a percentage of recurrent expenditure is stolen (inflated tissue paper) and of course development (10-20 percent rent seeking of any contract).

So I'd say max being stolen would be 10-20% of the budget.

tylann:

The problem is not tax collection its expenditure 50% of all tax revenues is lost through corruption

Mkenya2019:
Nairobi non-motorized transport improvement continues into estates

Kenya Urban Roads Authority - Improvement of roads in Kileleshwa, We have constructed walkways and improved existing carriage ways along 15 Roads totalling to 8 Kilometers.

just 8 kilometers?

You should be doing 100s of kilometers fixing

Wuoche:

Then why are 49% of adult Nigerians still doesn't have bank accounts?

And this percentage came from your ass..

I dont see how Ruto has contributed to this. But yes he did manage to get wheat deal. Ethiopia are doing great stuff in agri sector - they will move to wheat surplus - from producing 1.5M tonnes to 2.5M tonnes. Ruto secured a deal to import Ethiopia wheat. There is a lot we can import from Ethiopia...though getting dollars out of Ethiopia is akin to pulling your teeth...so you have to invest for long term...you aint repatriating profit any time soon.

Kenya we are stuck at 0.35M tonnes of wheat.

Shma2022:
Had underrated this guy, Ruto. But as things are, he's a strategist. A performer.


Safaricom has officially penetrated the Ethiopian market. That is a great move!!

https://www.reuters.com/business/media-telecom/kenyas-safaricom-launches-network-ethiopia-first-private-operator-2022-10-06/

Ethiopia forex regulation is the albatross to investing there. Kenya flower companies saw dust. You can invest but dont hope to take money out soon.
https://twitter.com/PatrickHeinisc1/status/1577706825226457088/photo/1
I see @flyethiopian already points out new forex regulations. The laws of #Ethiopia must be respected, but if a gov. cannot afford the exchange rate and forces people to exchange $1 for 52 birr while any trader on the street would give 100, it is kind of stealing from the people.

Always a beautiful view driving down these Streets

Shma2022:
Had underrated this guy, Ruto. But as things are, he's a strategist. A performer.


Safaricom has officially penetrated the Ethiopian market. That is a great move!!

https://www.reuters.com/business/media-telecom/kenyas-safaricom-launches-network-ethiopia-first-private-operator-2022-10-06/

Why do you guys like giving Ruto credits which are not his? The guy is barely a month since he became the president and with that frame time, he can't negotiate any deal that it's results can be seen within 24 days. Just to be honest with you, right now Ruto is still enjoying the fruits of UHURU.

Shma2022:


Wrong, or outrightly lame excuse.

If you start taxing "some of " your agricultural products, then you're bound to fail. It's the same as subsidizing agricultural Output and overlooking the inputs, wrong strategy!

If you asked me, I would say you have huge unproductive population that's why on overage, your VAT outside Oil is below average.

Nigerians are way more productively than your shithole citizens get thaf into your skull.

Reason for low tax collection in Nigeria is because the government have refused to tax businesses, especially the informal sector. But the federal government is already planning to expand our tax net, and there was improvement since 2021.

Balogunodua:


Nigerians are way more productively than your shithole citizens get thaf into your skull.

Reason for low tax collection in Nigeria is because the government have refused to tax businesses, especially the informal sector. But the federal government is already planning to expand our tax net, and there was improvement since 2021.

Some experts were proposing to Lagos Government how to tax market behemoths like Balogun market and computer village just few days ago using technology. I pray the Government comes through with it. Formally taxing computer village in Ikeja properly mehn. Imagine what that that would do for Lagos revenue. Not to talk of Balogun market and the other larger markets across Lagos.
Some of these markets even pay taxes informally to non state actors at the moment.
Kano also have some of the largest textile markets in West Africa and other markets there, then there is Onitsha and Nnewi in Anambra.
They say Anambra has one of the lowest unemployment in Nigeria. I served in Anambra and I tell you this is true. I tell you there are very few private firms there, it's littered with sme's manufacturing all sorts of things, small scale and medium scale. Government in Anambra must find a way to use the BVN, NIN and other forms of technology to bring all of these guys into the data base.

Balogunodua:


And this percentage came from your ass..

What's 100% - 51% ?

Actually I checked again. He negotiated for M-pesa licenses. That is key for Safaricom.

Big positive rapid changes happening in #Ethiopia’s telecom & financial services sectors.

Safaricom granted license to offer mobile money (Mpesa) services (video). It’ll compete with EthioTelecom’s new Telebirr which signed 23 million+ subscribers in less than 1 year.

Wuoche:


Why do you guys like giving Ruto credits which are not his? The guy is barely a month since he became the president and with that frame time, he can't negotiate any deal that it's results can be seen within 24 days. Just to be honest with you, right now Ruto is still enjoying the fruits of UHURU.

How do you propose to tax flea markets. Understand difference btw taxes and revenues from market licenses, fees and others. Those are not taxes. You cannot run a country by chasing traders in Balogun market

Quickest way to tax is to go for transanctions. You say Nigeria makes 3.7 billion transactions annual through the payment system. If you tax - 1 dollar per transaction - you're talking 3.7Billion dollars. This will affect everyone and widen the tax net.

To chase informal traders across Nigeria will just result in broken limbs and zero tax collection.

GeneralDae:

Some experts were proposing to Lagos Government how to tax market behemoths like Balogun market and computer village just few days ago using technology. I pray the Government comes through with it. Formally taxing computer village in Ikeja properly mehn. Imagine what that that would do for Lagos revenue. Not to talk of Balogun market and the other larger markets across Lagos.
Some of these markets even pay taxes informally to non state actors at the moment.
Kano also have some of the largest textile markets in West Africa and other markets there, then there is Onitsha and Nnewi in Anambra.
They say Anambra has one of the lowest unemployment in Nigeria. I served in Anambra and I tell you this is true. I tell you there are very few private firms there, it's littered with sme's manufacturing all sorts of things, small scale and medium scale. Government in Anambra must find a way to use the BVN, NIN and other forms of technology to bring all of these guys into the data base.

Wuoche:


Why do you guys like giving Ruto credits which are not his? The guy is barely a month since he became the president and with that frame time, he can't negotiate any deal that it's results can be seen within 24 days. Just to be honest with you, right now Ruto is still enjoying the fruits of UHURU.

True but Uhuru also claimed all the projects of Kibaki and coalition government as Jubilee projects.

rvp2018:
How do you propose to tax flea markets. Understand difference btw taxes and revenues from market licenses, fees and others. Those are not taxes. You cannot run a country by chasing traders in Balogun market

Quickest way to tax is to go for transanctions. You say Nigeria makes 3.7 billion transactions annual through the payment system. If you tax - 1 dollar per transaction - you're talking 3.7Billion dollars. This will affect everyone and widen the tax net.

To chase informal traders across Nigeria will just result in broken limbs and zero tax collection.

I agree with you on this. Government was trying to do this recently especially with the telecommunications which has in total 206 million users ( because some people are active in at least two lines). We have by far the largest number of active internet subscribers in Africa at 109 million people. Second largest is Egypt with 78 million people. These are the areas we should focus on but Nigerians would protest and hold the Government by the jugular and this is election period.

Unrelated, but what do you guys think about what Peter Obi said:

As part of our monetary policy, we will seek to re-establish the independence of the CBN; and commit to a credible and transparent plan to normalize the exchange rate and bring inflation to single digits.

We will remove import and forex restrictions and insist on a single forex market. The current system penalizes exporters who bring in forex by forcing them to sell at a rate that they are unable to source for forex when they need to purchase forex.

This multiple exchange rate regime encourages capital flight and deters investment, which has further worsened Nigeria’s forex situation.

I personally don't like that Idea also it contradicts what he said about consumption to production, if he does this, he could set back the gains Buhari made in agriculture by years. Its not good at all.

rvp2018:
Few airlines make profit. KQ is flying. Nigeria Airways has been bitting the dust since most of you were not yet born. KQ generates more than a billion in revenues annually. It own subsidiaries that make money like JamboJet, Precision Air,. It transport more than 2 million passengers annually and tonnes of cargo.

10yrs ago - Ethiopia Airline was not making profit - KQ was making profit.

But now KQ is not making profit and that’s all that matters.

We figured Nigeria air would go the BBC shameful route like KW abd we decided to dissolve it to avoid the Shane but instead went the American way that doesn’t have a national carrier but has numerous profit making private carrier they holds the stitches of their aviation sector . KQ is a mess, bring something else up- we trashed this already.

He is right on money.
This has nothing to do with import restriction on say rice. Trade policies.
It's about Naira-Dollar - Moniteray policy.
Nigeria should restrict import of rice/etc without using dollars.
It should do that by simply raising the import duties for foreign rice.

The Zoo moniterary policy is crazy. Last happened in Kenya in 1990s. What Obi is seeking to do - Kenya did in early 1990s.

Fourpockets:
Unrelated, but what do you guys think about what Peter Obi said:



I personally don't like that Idea also it contradicts what he said about consumption to production, if he does this, he could set back the gains Buhari made in agriculture by years. Its not good at all.

rvp2018:
So there is nothing wrong with Nigeria economy. It doesn't need to diversify anymore. The generator powered manufacturing is doing great. The hoe powered agricluture is doing wonders. Nigeria economy remain OIl and nothing. That is why since Oil had issues in 2010 or around - it's been under recession. If Oil wasnt an issue - you wont be getting sick with oil prices.

Nigeria non-oil sector is doing great. It’s shows we are diversifying am swiftly. Accept that fact abd stop yelling.

The thought of comparing any of those sector generaldae listed with that of Kenya is rather comical. Last time I checked you were a mere less than 130bn economy. Say something,there is absolutely nothing to compare. You zoo is a joke to us and you are only making a fool of yourself arguing blindly with emotions.

rvp2018:
Airlines are strategic assets for a functioning country. Besides GoK spend billions in travel - as civil servants have to travel - so that kind of cost - aint going away. What is percentage of Ghana gov money that goes to foreign airlines alone.

Yours is a strategic failure. Dissolve that shame already.