"With a spending of $2.8bn of his personal money on charity in Nigeria , Bill Gates is apparently the highest “ taxpayer “ in Nigeria . He certainly deserve to have a voice in our affairs if not a vote . We should listen and take his advice if we accept his cash"
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Gbam !
In fairness though, Amuta clarified, in the later part of his essay, that BG was primarily referring to corporate and value added tax. But you are correct. Many journalists fail to see the wisdom behind BG's advice that Nigerians should pay more tax in order to increase healthcare spending
They fail to understand what their life will be like had BG not spent his hard earned $2.8 billion in Nigeria. They fail to realize that Polio, Tuberculosis, and HIV/AIDS, could be ravaging large swaths of Nigeria today — including people that they know — without BG's $2.8 billion.
So, they sit down on their cushy seats, in their airconditioned studios, sipping tea, and complaining about why BG should be asking them to pay more taxes. It is when the man stops spending his money in Nigeria, and they see their neighbors getting sick, with Craw-Craw, M-Pox, and other Infectious Diseases (God forbid) that their eyes will open
]]>The problem with media in Nigeria is that most journalists and public policy commentators who read largely humanities often take the lead on commentaries related to economic and technical issues they have little knowledge of . Through their loud megaphones they assist politicians and government to destroy the economy and prosperity of the country .
With a spending of $2.8bn of his personal money on charity in Nigeria , Bill Gates is apparently the highest “ taxpayer “ in Nigeria . He certainly deserve to have a voice in our affairs, if not a vote . We should listen and take to his advice if we accept his cash .
It is no secret that Nigeria tax-to-GDP ratio is criminally low and that there is need to improve tax collection . One does not need to be one of the richest men in the world to come to this conclusion on Nigeria revenue profile and responsibilities of government to provide public goods of healthcare and basic amenities. It is no rocket science to decipher that revenue at less than an $40bn annually accruing to government is low from $400bn economy. A bulk of this is largely from receipts of sales of oil and gas equity held by NNPCL . There is therefore a compelling justification for more efficient tax system to bring income from the larger economic activities outside oil that form the backbone of the $400bn national economy.
Tax collection doesn’t imply taking more from the poor and the struggling middle class . It is more about redistribution of wealth by taxing the wealthy and the rich to support the poor masses and provide public good for all . It is obvious the rich and mighty of our society do not pay taxes commensurate to their wealth and affluence on display . Most hard working middle class actually pay more taxes , relatively , than private jet owning individuals. Taxation is currently skewed against corporate organizations and salary earners where taxes are deducted from source as against entrepreneurship and looters of public fund who are at liberty not to declare their sources of income and assets .
Only 1% of total bank accounts in Nigeria hold a deposit of N500k and above according to CBN report . So an efficient tax system focused at just these depositors or less than 0.3 % of the population who own the N14trn ($9bn) in banks including there other assets outside the banking sector will certainly yield huge tax revenue for Nigeria . Furthermore a good tax system will avoid double taxation and should take into account charities and other expenses on public goods that are tax deductible.
Tracking and taxing the high and mighty who own properties in choice locations in Nigeria and across the world include fleet of exotic limousines and SUVs with private jet to boot, together with the rich with huge income from known and unknown sources is the first step to effective tax system and generation of revenue commensurate with GDP and the affluence in Nigeria . I suppose this is what Bill Gates is advocating for government.
]]>The international financial institutions are no angels but nobody is forcing them on African nations. Your outrage should first go to our corrupt and clueless leaders that put us at the mercy of those institutions. The criminals masquerading as political leaders squander humongous loan amounts on their ostentatious lifestyles. Yet, they subject the masses to draconian policies. When the consequent hardship is not shared by the so called leaders, and when they refuse to lead by example, there will be no peace.
The Bill Gates of the world can afford to talk down on our leaders because we depend on them for the basic necessities that should be the primary responsibility of our governments.
]]>You said SOMETHING and you said it all
]]>Hahahaha.
I beg eeeeee no finis me wit LAFF-TER OOOOO