Listening to this man is like listening to Peter Obi. I have always wondered if my economic professors were wrong by saying that to boost productivity and employment you reduce interest rate. Only in Nigeria do you find big government hoping to achieve greater economic output or growth. Big government = inflation. Nigerian central bank run by PHD holders is like Nigerian university professors that can’t produce or invent any product. The government is always hiring expatriates to do the jobs because Nigerian universities are full of professors with certificates but lack skills. Those that do are not engaged . Corruption everywhere.
You cannot reduce interest rates when the results would be higher inflation and further devaluation of the naira which in the end would not favour the production you are talking about. What the average youth like you understand is Micro- economics , not the macro aspect where there are no constants like you were taught in micro-economics.
The macro- economic variables in Nigeria are not stable hence the need to tighten monetary policies. Doing otherwise will render useless any money lent to industrialists at low interest rates because the value of the naira to the Dollar will get even worse.
Nigeria only collects about 10% of GDP in taxes. South Africa collects 26% of GDP in taxes. Senegal and Mozambique each collect about 20%. We have one of the lowest tax-to-GDP ratios in Africa. How much lower should taxes be? How are you going to pay for all the public goods that people are asking for without collecting more taxes?
Don’t conflate 2 different issues. You need to check the gdp per capita of the countries you’ve compared. You cannot squeeze what you don’t have. Make the country productive, then you tax. How do you people keep missing the point after numerous people have explained it (including Peter Obi and numerous other intelligent people from all regions of Nigeria)?
@ Make the country productive and then you tax? How are you going to fund all the projects like road and electricity generation that make a country productive without collecting taxes? How are you going to pay all the government employees? And what does GDP per capita have do with how much the government should collect in tax revenue? Senegal collects more than 20% of GDP in taxes and has a lower GDP per capita than Nigeria. Even Mozambique collects a greater percentage of GDP in taxes (around 20%). And Mozambique’s GDP per capita is less than $1000. So what are you talking about? Please, you are in no position to educate me.
@ GDP per capita means that the average man earns more. It is easy for people to pay more taxes if they earn more. The govt. can improve production in so many ways (directly and indirectly). One way is to improve electricity generation. Electricity generation can be handled by states if you remove deregulation, reform the policies and put in a technocrat who knows the job. Gently read my submissions and no need to be emotional. I can give you so many more examples that can increase productivity without much govt. cost. Another big example is privatization of NNPC.
@ I also noticed you used the GDP per capita of other low performing countries. I dream of the day citizens will start to compare ourselves to high performers. We have a lot of people in poverty (over 100 million people). Goodluck trying to collect taxes from these people. Big companies are leaving Nigeria, goodluck trying to increase more taxes.
What has higher tax to GDP done for those countries prosperity? Our low tax to GDP can continue to be our strength as individuals in private sector are ready to pick up lots of so called government activities, including provision of infrastructure which used to be government domain alone. BUA AND DR are taking over what used to be government domain, refineries. Just like communications used to be government domain. It's known as Minimising Government for Maximum Governance.
Nigeria economic challenges is stemming from massive corruption by the political class. Corruption has been the bane of the downturn in the economy. The whole narratives about Nigeria's economy is that the Southern part of Nigeria bleed themselves to generates money and the northerner get their share to spends. The northerners are not thinking of investing in Agriculture to reduce the overdependence on the south for revenue.
What cost many of this company not to make profit is also something the government have been saying for some years now go and domesticate most of your input for all inclusive growths
See how calm and normal Morning Show is ...great interviews and follow up questions, no rudeness and an opportunity for viewers to learn ---I wonder why. Mr Oseni should watch when he is not on set and learn a thing or two.
This man is quick to condemn government policies but the moment he was asked if the meeting that were held with the government were not truly existing or the government doesn’t take advice, that is the government is being hypocritical, alas, he began to ramble and jumping around without any meaningful response. An average Nigerian is good at pointing out problems but lacks logical and practical solutions to the same problems
Why are Nigerians trying to embrace taxes ? Your issue is not taxes, your problem is bad government, corruption, Nigeria has enough money to go around. People in the US are trying to leave taxes but you Nigerians are trying to embrace it. Backward thinking. Companies are already indirectly taxing the goods , Nigerians are being taxed by petrol price increase. Cut your government size. Nigerians do not need more than 2 senators or Congress by state.
Listening to this man is like listening to Peter Obi. I have always wondered if my economic professors were wrong by saying that to boost productivity and employment you reduce interest rate.
Only in Nigeria do you find big government hoping to achieve greater economic output or growth. Big government = inflation. Nigerian central bank run by PHD holders is like Nigerian university professors that can’t produce or invent any product. The government is always hiring expatriates to do the jobs because Nigerian universities are full of professors with certificates but lack skills. Those that do are not engaged . Corruption everywhere.
You cannot reduce interest rates when the results would be higher inflation and further devaluation of the naira which in the end would not favour the production you are talking about. What the average youth like you understand is Micro- economics , not the macro aspect where there are no constants like you were taught in micro-economics.
The macro- economic variables in Nigeria are not stable hence the need to tighten monetary policies. Doing otherwise will render useless any money lent to industrialists at low interest rates because the value of the naira to the Dollar will get even worse.
Mr Dele Oye you are on point. I wish this dummy set of leaders would listen to technocrats like you and deject politics on crucial matters like this.
What's the difference between what this man is saying and what Peter Obi said some days back.
APC is clueless abeg 🙄
They not but evil
If it was Peter Obi that said this, those haters would've threatened him while others spray insults.😒
CAN YOU PEOPLE FOR ONCE STOP THIS DELUSIONAL MENTALITY OF OBI, WHAT DID HE DO IN ANAMBRA FOR 7-8 YEARS THAT IS FEASIBLE TODAY?
Nigeria only collects about 10% of GDP in taxes. South Africa collects 26% of GDP in taxes. Senegal and Mozambique each collect about 20%. We have one of the lowest tax-to-GDP ratios in Africa. How much lower should taxes be? How are you going to pay for all the public goods that people are asking for without collecting more taxes?
Don’t conflate 2 different issues. You need to check the gdp per capita of the countries you’ve compared. You cannot squeeze what you don’t have. Make the country productive, then you tax. How do you people keep missing the point after numerous people have explained it (including Peter Obi and numerous other intelligent people from all regions of Nigeria)?
@ Make the country productive and then you tax? How are you going to fund all the projects like road and electricity generation that make a country productive without collecting taxes? How are you going to pay all the government employees? And what does GDP per capita have do with how much the government should collect in tax revenue? Senegal collects more than 20% of GDP in taxes and has a lower GDP per capita than Nigeria. Even Mozambique collects a greater percentage of GDP in taxes (around 20%). And Mozambique’s GDP per capita is less than $1000. So what are you talking about? Please, you are in no position to educate me.
@ GDP per capita means that the average man earns more. It is easy for people to pay more taxes if they earn more.
The govt. can improve production in so many ways (directly and indirectly). One way is to improve electricity generation. Electricity generation can be handled by states if you remove deregulation, reform the policies and put in a technocrat who knows the job.
Gently read my submissions and no need to be emotional. I can give you so many more examples that can increase productivity without much govt. cost. Another big example is privatization of NNPC.
@ I also noticed you used the GDP per capita of other low performing countries. I dream of the day citizens will start to compare ourselves to high performers.
We have a lot of people in poverty (over 100 million people). Goodluck trying to collect taxes from these people. Big companies are leaving Nigeria, goodluck trying to increase more taxes.
What has higher tax to GDP done for those countries prosperity?
Our low tax to GDP can continue to be our strength as individuals in private sector are ready to pick up lots of so called government activities, including provision of infrastructure which used to be government domain alone.
BUA AND DR are taking over what used to be government domain, refineries. Just like communications used to be government domain.
It's known as Minimising Government for Maximum Governance.
But tinubuomics defenders will come with out facts and say this government is the best thing since slice bread
18:35 pls sir can anyone explain what is the business of black market money changer with a sincere manufacturer
Clean up corruption first. We already no see where money go
Nigeria economic challenges is stemming from massive corruption by the political class.
Corruption has been the bane of the downturn in the economy.
The whole narratives about Nigeria's economy is that the Southern part of Nigeria bleed themselves to generates money and the northerner get their share to spends.
The northerners are not thinking of investing in Agriculture to reduce the overdependence on the south for revenue.
The biggest underperformer is the FG headed by Tinubu.
They are out of touch with realities .
What cost many of this company not to make profit is also something the government have been saying for some years now go and domesticate most of your input for all inclusive growths
See how calm and normal Morning Show is ...great interviews and follow up questions, no rudeness and an opportunity for viewers to learn ---I wonder why. Mr Oseni should watch when he is not on set and learn a thing or two.
Which government?
No, they APC government is doing so well, can a criminal arrest a criminal.
False sense of Stability? Around Minute 11
This man is quick to condemn government policies but the moment he was asked if the meeting that were held with the government were not truly existing or the government doesn’t take advice, that is the government is being hypocritical, alas, he began to ramble and jumping around without any meaningful response.
An average Nigerian is good at pointing out problems but lacks logical and practical solutions to the same problems
This guy is just trying to defend his constituency the private sector he does not want to pay taxes period...
This man keeps talking about 2014 when the CBN gov and NOI said we were headed foe disaster. This man is just thinking of his pocket not the country.
Things better pass that time. Na Tinubu economic team cause all these things.
Why are Nigerians trying to embrace taxes ?
Your issue is not taxes, your problem is bad government, corruption, Nigeria has enough money to go around. People in the US are trying to leave taxes but you Nigerians are trying to embrace it. Backward thinking. Companies are already indirectly taxing the goods , Nigerians are being taxed by petrol price increase. Cut your government size. Nigerians do not need more than 2 senators or Congress by state.