NewStats: 3,262,207 , 8,176,474 topics. Date: Sunday, 01 June 2025 at 11:36 AM n3j39

Penguin2:
Don’t underestimate the power of fools in large numbers.

T.

Penguin is a bird of reason.

Pained Biafran.

Why don't you show us the amount Alaba business men pay as tax as against the amount Dangote pay?

Penguin2:

Gombe State, Northeast Nigeria, has one of the best road networks in Nigeria.

Abia State, Southeast Nigeria, until recently, had one of the worst road network in Nigeria.

Which of these two states is richer?

Put it side by side.? There are two places with similar business potentials. One has good infrastructure, the doesn't. Even people from the one that doesn't have good infrastructure will move to the places to do their business. You Gerrit? If you don't, gerrarahere!

Penguin2:
Don’t underestimate the power of fools in large numbers.

The above is a classic maxim that sounds like a cliché but it’s ever potent, and will remain potent forever.

The reason a character like Reno Omokri blocks people with the intellectual and rational capacity to question the trashes he consistently posts on X, is so he would be left with large flock of brainless followers who would swallow every bunkum he throws at them as true.

In keeping with the above, yesterday, he claimed that Dangote controls 21% of Lagos economy but yet he’s so humble but Igbos will always claim they built Lagos and are pompous.

I was not surprised to go through the comment section to see intellectual deficient minions praising what he wrote without questioning his submission to ascertain the truth value of that assertion.

Well, that’s what I’m here to do.

Let’s question what Reno Omokri said about Dangote controlling 21% of Lagos economy.

And the first question is, does Dangote control 21% of Lagos economy?

What drives the economy of a state or country? Is it large corporations or MSMEs?

Lagos is a city with a population of nearly 22million people. What percentage of this population does Dangote employ?

How much does Dangote pay in taxes to Lagos Government, and how much does Lagos Govt generate from markets like Alaba, ASPAMDA, Computer Village, etc?

If Dangote controls 21% of Lagos economy, what percentage of California’s economy does Apple and Google control since the two companies are both headquartered in California and they are both more valuable than Dangote by far?

What percentage of Texas’ economy does Tesla control since Tesla is headquartered in Texas and is equally more valuable than Dangote by far?

So, you see, a lot of foolishness sound like wisdom/knowledge to an unthinking mind but don’t let it deceive you.

What Reno Omokri said is absolute foolishness, falsehood and outright distortion of facts.

Lagos is not Lagos because of Dangote company or because of the large corporations headquartered therein.

If there’s any group that forms the engine room of Lagos economy, it’s the Medium, Micro and Small Scale Businesses. This category employs the highest number of Lagosians, and this category generates the most money for Lagos.

Large corporations do not build economies.

Infrastructure, as much as it adds to ease of doing business, does not build economy like some people claimed under Buhari.

So, next time, before you celebrate any trash from Reno Omokri, subject it through logical and rational dissection to know if the statement is truly reasonable.

Penguin is a bird of reason.

The IGBOS CONTROL LAGOS
OLOSHI, ERANKO
Are you OK, now?
I am not sure Reno mentioned Igbos yet una want die fir the matter...how could a normal human be this obsessed??,

Jlow2:
That was why we argued that the 2billion dollars nnpc used to by stake at dangote should have Been shared to msme s , that is the engine room that drives the economy, now what is the benefit of the nnpc state in dangote refinery to Nigerians, nnpc itself is a weapon fashioned against Nigeria, same people that said the sector has ben fully deregulated re saying that nnpc while determine the price of dangote pms, it’s unfortunate Nigeria is not designed for prosperity, or for hard working and sincere people to prosper, if you believe there is hope in Nigeria you rea big fool, never make same mistakes your parents and grand parents made.

Yes we have seen how it's driven in Onitsha and Aba ...these two beibg the leading Comnercial cities of Africa

[quote author=Christistruth00 post=131889187]

Alaba that LASG close down anyhow and nobody feels anything happened
It is the Traders that still go to beg the Gov[/quote
] The rants by the OP validates Reno's assertion that empty barrel makes the loudest noise
Let these noise makers move their numbers to their caves...abi them no love thier home?
Charity they said begins at home

Goodvibes007:
Alaba markets traders pay extremely little tax. They keep two bank s. You go to buy a TV, they give you a private to pay into. You go buy oraimo cord, they give you their business to pay into.

Large cooperation drives the economy of states and countries. This is common knowledge.

The rants by the OP validates Reno's assertion that empty barrel makes the loudest noise
Let these noise makers move their numbers to their caves...abi them no love thier home?
Charity they said begins at home

Penguin2:

Does this stop them from paying their taxes?

Let them take their taxes to their caves

Kerubiel:


Leave the werey make he dey cap nonsense.

“Large corporations do not build economies”.

Why are the Yeebos hellbent on building the economy of Lagos and other regions?

Why can’t they build their own economy at Onitsha and Abakaliki?

Do their charity have to begin in Lagos and other people’s region?

An animal up there is asking who listens to Reno Omokri, and the answer is - Every sane & patriotic Nigerian listens to Reno because ALL HIS ASSERTIONS & ARGUMENTS are backed by verifiable proof; Unlike your people who get their instructions directly from Simon Ekpa from Finland .

That is why your parents hide under their beds every MONDAY in your region while other productive people like Dangote keep transforming economies & writing their names in gold.

That Reno Omokri statistics about Dangote controlling 21% of Lagos Economy really pain them, no be small.

Why are they crying all over the place?
Reno didn't even mention their name...it clearly shows they are arrogant hence the reason they are wailing

Goodvibes007:
Alaba markets traders pay extremely little tax. They keep two bank s. You go to buy a TV, they give you a private to pay into. You go buy oraimo cord, they give you their business to pay into.

Large cooperation drives the economy of states and countries. This is common knowledge.

No mind those people. Person wey get 2by2 shop wan follow Dangote drag Road

Penguin2:
Don’t underestimate the power of fools in large numbers.

The above is a classic maxim that sounds like a cliché but it’s ever potent, and will remain potent forever.

The reason a character like Reno Omokri blocks people with the intellectual and rational capacity to question the trashes he consistently posts on X, is so he would be left with large flock of brainless followers who would swallow every bunkum he throws at them as true.

In keeping with the above, yesterday, he claimed that Dangote controls 21% of Lagos economy but yet he’s so humble but Igbos will always claim they built Lagos and are pompous.

I was not surprised to go through the comment section to see intellectual deficient minions praising what he wrote without questioning his submission to ascertain the truth value of that assertion.

Well, that’s what I’m here to do.

Let’s question what Reno Omokri said about Dangote controlling 21% of Lagos economy.

And the first question is, does Dangote control 21% of Lagos economy?

What drives the economy of a state or country? Is it large corporations or MSMEs?

Lagos is a city with a population of nearly 22million people. What percentage of this population does Dangote employ?

How much does Dangote pay in taxes to Lagos Government, and how much does Lagos Govt generate from markets like Alaba, ASPAMDA, Computer Village, etc?

If Dangote controls 21% of Lagos economy, what percentage of California’s economy does Apple and Google control since the two companies are both headquartered in California and they are both more valuable than Dangote by far?

What percentage of Texas’ econcompanys Tesla control since Tesla is headquartered in Texas and is equally more valuable than Dangote by far?

So, you see, a lot of foolishness sound like wisdom/knowledge to an unthinking mind but don’t let it deceive you.

What Reno Omokri said is absolute foolishness, falsThe Lagos outright distortion of facts.

Lagos is not Lagos because of Dangote company or because of the large corporations headquartered therein.

If there’s any group that forms the engine room of Lagos economy, it’s the Medium, Micro and Small Scale Businesses. This category employs the highest number of Lagosians, and this category generates the most money for Lagos.

Large corporations do not build economies.

Infrastructure, as much as it adds to ease of doing business, does not build economy like some people claimed under Buhari.

So, next time, before you celebrate any trash from Reno Omokri, subject it through logical and rational dissection to know if the statement is truly reasonable.

Penguin is a bird of reason.

You want to compare the taxes paid by a corporate giant like Dangote to those paid by thousands of small to medium scale enterprises in this our own Obodo Nigeria? You must be joking. Let me educate you a little bit. I have worked as a ive tax officer and privacy to tax paid by corporate entity like Dangote and small and medium scale enterprises.
Dangote plc pays various taxes including Company Income Tax (CIT) to the federal government , personal Income Tax (PiT) on behalf of Its numerous employees, expatrates earning fat salaries. The company directors pay heavy taxes on their fat salaries to the State Government. The company also pays consumption tax, humongous withholding tax (WHT) on behalf of its numerous contractors. You can't even compare. Let me give you an example, while Dangote cement in Ibeshe, Ogun State pays between 100-200 million in tax in just a local govt to the Ogun State govt in one month, the entire taxes from other sources (DA, PAYE, Consumption tax, WHT, road taxes etc) for that LGA is not up to N10m per month. The Lagos own na die!

It's like comparing heaven and Earth. Don't even go there. If you want to know those that really pay taxes, start from asking about their books of . Many of those Alaba people and small to medium scale businesses in Nigeria do not have proper records. Those that have never present them for tax assessment. Some of them fight tax collectors who bill them a minimum tax like five to fifty thousand naira per annum while they rake in multimillion naira annually.

ImmaculateJOE:

You are yet to answer the question raised.
Do Dangote really controls 21% of Lagos economy.?

Does she employ 21% of Lagos population.?

How much tax per annum does Dangote pays to the Lagos State Government.?

How much tax does the combined Markets of Alaba, Ladipo, Computer Village and her likes pays to the Lagos State Government..?

When you answer this questions truthfully, then you will know whether Ren o is lying or not.

Why don't you give us the figures Alaba traders pay as tax.

Pained Man. That's why no Igbo man has ever made the list of 20 richest people in Nigeria.It is posible that, the richest man in South East might even be an Aboki. Northerners no dey Chest beat, them no dey make mouth. But them too get money.

Penguin2:
Don’t underestimate the power of fools in large numbers.

The above is a classic maxim that sounds like a cliché but it’s ever potent, and will remain potent forever.

The reason a character like Reno Omokri blocks people with the intellectual and rational capacity to question the trashes he consistently posts on X, is so he would be left with large flock of brainless followers who would swallow every bunkum he throws at them as true.

In keeping with the above, yesterday, he claimed that Dangote controls 21% of Lagos economy but yet he’s so humble but Igbos will always claim they built Lagos and are pompous.

I was not surprised to go through the comment section to see intellectual deficient minions praising what he wrote without questioning his submission to ascertain the truth value of that assertion.

Well, that’s what I’m here to do.

Let’s question what Reno Omokri said about Dangote controlling 21% of Lagos economy.

And the first question is, does Dangote control 21% of Lagos economy?

What drives the economy of a state or country? Is it large corporations or MSMEs?

Lagos is a city with a population of nearly 22million people. What percentage of this population does Dangote employ?

How much does Dangote pay in taxes to Lagos Government, and how much does Lagos Govt generate from markets like Alaba, ASPAMDA, Computer Village, etc?

If Dangote controls 21% of Lagos economy, what percentage of California’s economy does Apple and Google control since the two companies are both headquartered in California and they are both more valuable than Dangote by far?

What percentage of Texas’ economy does Tesla control since Tesla is headquartered in Texas and is equally more valuable than Dangote by far?

So, you see, a lot of foolishness sound like wisdom/knowledge to an unthinking mind but don’t let it deceive you.

What Reno Omokri said is absolute foolishness, falsehood and outright distortion of facts.

Lagos is not Lagos because of Dangote company or because of the large corporations headquartered therein.

If there’s any group that forms the engine room of Lagos economy, it’s the Medium, Micro and Small Scale Businesses. This category employs the highest number of Lagosians, and this category generates the most money for Lagos.

Large corporations do not build economies.

Infrastructure, as much as it adds to ease of doing business, does not build economy like some people claimed under Buhari.

So, next time, before you celebrate any trash from Reno Omokri, subject it through logical and rational dissection to know if the statement is truly reasonable.

Penguin is a bird of reason.

21% is exaggeration. No body or group of people controls that much in a diverse economy like Lagos.

But let's face it, Dangote Refinery is X100 important to an economy than Alaba and others notable market in the state. The adverse effect of that refinery existing in that space alone will be so enormous that having tens of Alaba markets in a given location won't make any difference.

I understand your point of SME, but that alone can't drive the economy of a state or take us out of poverty. No nation has broken out of poverty by focusing on SMEs alone, we already have SMEs scattered in every corners of the country and yet Nigerians everywhere are still poor. Industries drive the economy to greater heights and attracts far more developments.

What Dangote Refinery will do to Lagos economy will be so enormous and sincerely, I wish such gigantic project was located elsewhere. Maybe somewhere in the Delta because we desire such growth.

Nigeria having 5 more of such gigantic industries will not only change our fate forever, but set us on a steady path. Imagine us having an Industry that produces steel. We have the local market and need for that.

SMEs don't bring in FX, instead it depletes our FX, resulting in weaker currencies. Industries conserve FX and attracts more FX to the economy, thereby strengthening our currency and economy. Both are important, but Industries are what Africans need more.

Efewestern:


21% is exaggeration. No body or group of people controls that much in a diverse economy like Lagos.

But let's face it, Dangote Refinery is X100 important to an economy than Alaba and others notable market in the state. The adverse effect of that refinery existing in that space alone will be so enormous that having tens of Alaba markets in a given location won't make any difference.

I understand your point of SME, but that alone can't drive the economy of a state or take us out of poverty. No nation has broken out of poverty by focusing on SMEs alone, we already have SMEs scattered in every corners of the country and yet Nigerians everywhere are still poor. Industries drive the economy to greater heights and attracts far more developments.

What Dangote Refinery will do to Lagos economy will be so enormous and sincerely, I wish such gigantic project was located elsewhere. Maybe somewhere in the Delta because we desire such growth.

Nigeria having 5 more of such gigantic industries will not only change our fate forever, but set us on a steady path. Imagine us having an Industry that produces steel. We have the local market and need for that.

SMEs don't bring in FX, instead it depletes our FX, resulting in weaker currencies. Industries conserve FX and attracts more FX to the economy, thereby strengthening our currency and economy. Both are important, but Industries are what Africans need more.

You spoke with sense, and I appreciate it. You are the kind of people I like to have a conversation with.

But taking to your points, how many industries have packed up from Nigeria since Tinubu took power but our economy is still moving?

Now, do you think Nigerian economy would have remained the same if it were millions of SMEs that were taken out of business?

I’m not saying we don’t need the industries and large corporations, my point is that between them and SMEs, a country needs SMEs more.

OgaFactCheck:


You want to compare the taxes paid by a corporate giant like Dangote to those paid by thousands of small to medium scale enterprises in this our own Obodo Nigeria? You must be joking. Let me educate you a little bit. I have worked as a ive tax officer and privacy to tax paid by corporate entity like Dangote and small and medium scale enterprises.
Dangote plc pays various taxes including Company Income Tax (CIT) to the federal government , personal Income Tax (PiT) on behalf of Its numerous employees, expatrates earning fat salaries. The company directors pay heavy taxes on their fat salaries to the State Government. The company also pays consumption tax, humongous withholding tax (WHT) on behalf of its numerous contractors. You can't even compare. Let me give you an example, while Dangote cement in Ibeshe, Ogun State pays between 100-200 million in tax in just a local govt to the Ogun State govt in one month, the entire taxes from other sources (DA, PAYE, Consumption tax, WHT, road taxes etc) for that LGA is not up to N10m per month. The Lagos own na die!

It's like comparing heaven and Earth. Don't even go there. If you want to know those that really pay taxes, start from asking about their books of . Many of those Alaba people and small to medium scale businesses in Nigeria do not have proper records. Those that have never present them for tax assessment. Some of them fight tax collectors who bill them a minimum tax like five to fifty thousand naira per annum while they rake in multimillion naira annually.

You extended Dangote’s tax payments to Federal Government, but our area of focus is Lagos State.

What percentage of his tax obligation goes to Lagos State every month?

And talking about the tax obligation of markets like Alaba, Ladipo, Computer Village, etc, do I need to remind you that these people do not wait till end of the month or year to file their tax returns, but are charged taxes every day through tickets and other daily payments?

Now, do you think what Dangote pays as tax in a year or what his staff pay as Personal Income Tax monthly, can compare to the summation of daily payments from Alaba, Ladipo, Computer Village, etc, for a year?

Penguin2:

You extended Dangote’s tax payments to Federal Government, but our area of focus is Lagos State.

What percentage of his tax obligation goes to Lagos State every month?

And talking about the tax obligation of markets like Alaba, Ladipo, Computer Village, etc, do I need to remind you that these people do not wait till end of the month or year to file their tax returns, but are charged taxes every day through tickets and other daily payments?

Now, do you think what Dangote pays as tax in a year or what his staff pay as Personal Income Tax monthly, can compare to the summation of daily payments from Alaba, Ladipo, Computer Village, etc, for a year?

State government do not tax per day or months except for road taxes. Market taxes fall within the jurisdiction of LGAs. If we decide to focus on the State tax and not extend it to other tiers of government just like you have said, then those Alaba boys pay tax once in a year via Direct Assessment (DA) or minimum tax because of lack of proper record keeping or keeping proper records away from the authorities. Apart from HNIs (High Net worth Individuals), most of them pay less than N200, 000 as PIT once per year or less than N10, 000 per month (if what is usually paid is divided by 12). There are however, very few HNI among them that usually pay up to N5M per annum (those that earn in billions) Indirect Insider knowledge . Vast majority pay less than N100k as PIT per annum. Giants like Dangote pay multimillions on monthly basis to Lagos State Governments. Lagos earns billions monthly from corporate giants in Lagos on monthly basis.

Penguin2:

You extended Dangote’s tax payments to Federal Government, but our area of focus is Lagos State.

What percentage of his tax obligation goes to Lagos State every month?

And talking about the tax obligation of markets like Alaba, Ladipo, Computer Village, etc, do I need to remind you that these people do not wait till end of the month or year to file their tax returns, but are charged taxes every day through tickets and other daily payments?

Now, do you think what Dangote pays as tax in a year or what his staff pay as Personal Income Tax monthly, can compare to the summation of daily payments from Alaba, Ladipo, Computer Village, etc, for a year?

Apart from. The CIT, all the aforementioned taxes are paid to the State Government via the residency rule. Daily tickets are local government levies. They are technically not called taxes.

@OP, I struggle to get your points...
What or who controls an economy is the fraction of the GDP of that state that is controlled! Now, you can't articulate the fraction of Lagos economy controlled by whoever while someone can articulate what Dangote contributes with refinery and cement (through its balance sheet and stock market value) as % of Lagos $41b GDP. That is productivity angle.
Also from the income angle, consistently for over a decade, Lagos IGR is made up of an average of 60% Payee. It's doubtful if SMEs pay more than Employees in PAYEE as I haven't seen such data. Other than that, ambiguous and incongruous comparisons remains opinion. Give us facts to have productive conversations.

Penguin2:

You spoke with sense, and I appreciate it. You are the kind of people I like to have a conversation with.

But taking to your points, how many industries have packed up from Nigeria since Tinubu took power but our economy is still moving?

Now, do you think Nigerian economy would have remained the same if it were millions of SMEs that were taken out of business?

I’m not saying we don’t need the industries and large corporations, my point is that between them and SMEs, a country needs SMEs more.

Believe me, SMEs are also feeling the impact of the economy. Many are struggling and I'd be a fool to dismiss their contributions to the economy of the state but overall, they do not contribute as much as industries, especially that of the magnitude of Dangote Refinery.

Most SMEs don't not pay the minimum wage and their employees roster is usually slim. The economy will fair better if we have a balance. Not SMEs springing everywhere and not much industries and sectors to absorb in people. How can SMEs flourish when they purchasing power of the people are low to begin with ?

Let me give you a practical example. Sapele was one of the biggest city in Bendel during the 60's through the 80's. The Timber industry then was booming and lots of people were gainfully employed. After the industry collapsed, the city immediately fell. This was despite the many SMEs that sprang up during its booming period. The SMEs couldn't do anything to keep alive the once vibrant economy, because to an extent, SMEs so much rely on the purchasing power of the people. Also, the issue of Tax is not so straightforward with SMEs as it is with established industries but that is a discussion for another day.

If we don't encourage industries and industrialize, we would remain poor and no amount of SMEs will change that reality.

You have been thoroughly schooled on your own thread. I wish you created this thread to learn or gather information you lacked but you did out of hate bigotry jealousy n tribalism like many of your Igbo tribesmen on Nairaland.

I urge you to desist from the hateful being you have chosen to be, free your heart from hate so that you can learn n see fact for what it is sn do not continue constituting nuisance on social media out of tribal sentiment anymore.

You can now clearly see you n those urging you on are the fools in large number while your own penguin is a bird full of idiocy n foolishness but like life you learn n move instead of perishing in hate.

Penguin2:
Don’t underestimate the power of fools in large numbers.

The above is a classic maxim that sounds like a cliché but it’s ever potent, and will remain potent forever.

Penguin is a bird of reason.

Goodvibes007:
Alaba markets traders pay extremely little tax. They keep two bank s. You go to buy a TV, they give you a private to pay into. You go buy oraimo cord, they give you their business to pay into.

Large cooperation drives the economy of states and countries. This is common knowledge.

They pay little but multiple taxes...now that multiple taxes are monthly and some yearly....then multiply them by the number of traders...and know Ur result.....

Goodvibes007 please allow people with brains talk,thank you very much:
Alaba markets traders pay extremely little tax. They keep two bank s. You go to buy a TV, they give you a private to pay into. You go buy oraimo cord, they give you their business to pay into.

Large cooperation drives the economy of states and countries. This is common knowledge.

bigpicture001:


They pay little but multiple taxes...now that multiple taxes are monthly and some yearly....then multiply them by the number of traders...and know Ur result.....

Thank you very much, that's exactly what tax is all about. Little but multiple.

Sonyboom765:
You have been thoroughly schooled on your own thread. I wish you created this thread to learn or gather information you lacked but you did out of hate bigotry jealousy n tribalism like many of your Igbo tribesmen on Nairaland.

I urge you to desist from the hateful being you have chosen to be, free your heart from hate so that you can learn n see fact for what it is sn do not continue constituting nuisance on social media out of tribal sentiment anymore.

You can now clearly see you n those urging you on are the fools in large number while your own penguin is a bird full of idiocy n foolishness but like life you learn n move instead of perishing in hate.

And you ended up saying absolutely nothing! Not a single educated point in this complete thrash. Shame

Iceberg3:

Thank you very much, that's exactly what tax is all about. Little but multiple.

Multiple does not usually translate to more aggregate. If you multiply N1 paid by 200 million people, it does sur 1 billion Naira paid by a single corporate entity. If you talk about risk of sustainability of the collection of the taxes and promotion of tax culture, I will agree that multiple is better but not in of total in monetary .

In fact, the cost of collecting from the multiple na die while the single entity 'walks in' with the cheaque.

Kerubiel:


Leave the werey make he dey cap nonsense.

“Large corporations do not build economies”.

Why are the Yeebos hellbent on building the economy of Lagos and other regions?

Why can’t they build their own economy at Onitsha and Abakaliki?

Do their charity have to begin in Lagos and other people’s region?

An animal up there is asking who listens to Reno Omokri, and the answer is - Every sane & patriotic Nigerian listens to Reno because ALL HIS ASSERTIONS & ARGUMENTS are backed by verifiable proof; Unlike your people who get their instructions directly from Simon Ekpa from Finland .

That is why your parents hide under their beds every MONDAY in your region while other productive people like Dangote keep transforming economies & writing their names in gold.

That Reno Omokri statistics about Dangote controlling 21% of Lagos Economy really pain them, no be small.

You called my city I will reply you.
British should've made Onitsha or Abakaliki the capital of Nigeria. This Simon Ekpa de Pepe you people well well, Sit at home on Monday Oga we go to work and schools on Monday, continue to believe what you like.

Softmirror:


Basic elementary economics.

Ask him to bring a side be side figure to compare.

Another educated illiterate. We are talking about Dangote who said that he bought the land upon which he has built his refinery at the price of one hundred million dollars and not Naira from Lagos State. Peguin2 abeg make you reason am from there.

Lagos State government should do that

Wickedfact:
See how they are opening threads and crying over what Reno said

Dangote is more important than you, your parents, your ancestors and generations yet unborn. Choke on it.

Who's Reno?

Sonyboom765:
You have been thoroughly schooled on your own thread. I wish you created this thread to learn or gather information you lacked but you did out of hate bigotry jealousy n tribalism like many of your Igbo tribesmen on Nairaland.

I urge you to desist from the hateful being you have chosen to be, free your heart from hate so that you can learn n see fact for what it is sn do not continue constituting nuisance on social media out of tribal sentiment anymore.

You can now clearly see you n those urging you on are the fools in large number while your own penguin is a bird full of idiocy n foolishness but like life you learn n move instead of perishing in hate.

Did you say schooled?

Has any of you shown proof that Dangote controls 21% of Lagos economy?

Or has any of you shown proof that Dangote pays more tax to Lagos State than Alaba, Ladipo, Computer Village, etc, combined?

Where is the schooling?

In your head?

Efewestern:


Believe me, SMEs are also feeling the impact of the economy. Many are struggling and I'd be a fool to dismiss their contributions to the economy of the state but overall, they do not contribute as much as industries, especially that of the magnitude of Dangote Refinery.

Most SMEs don't not pay the minimum wage and their employees roster is usually slim. The economy will fair better if we have a balance. Not SMEs springing everywhere and not much industries and sectors to absorb in people. How can SMEs flourish when they purchasing power of the people are low to begin with ?

Let me give you a practical example. Sapele was one of the biggest city in Bendel during the 60's through the 80's. The Timber industry then was booming and lots of people were gainfully employed. After the industry collapsed, the city immediately fell. This was despite the many SMEs that sprang up during its booming period. The SMEs couldn't do anything to keep alive the once vibrant economy, because to an extent, SMEs so much rely on the purchasing power of the people. Also, the issue of Tax is not so straightforward with SMEs as it is with established industries but that is a discussion for another day.

If we don't encourage industries and industrialize, we would remain poor and no amount of SMEs will change that reality.

Like I said before, I’m not anti-industrialization- never.

The impression I’m trying to correct is that it is wrong to downplay the contributions of SMEs and general commerce to the economy while seemingly extolling industries as what is needed.

I understand your allusion to the fall of Sapele due to the exit of industries, but you need to understand that, like Warri, the fall of Sapele can be attributed to much more factors than the exit of industries. What happened to Sapele and Warri was the advent of militancy by the indigenes where they started kidnapping expatriates for ransom which ended up snowballing into full blown insecurity in the Niger Delta.

So, it is half truth to attribute the fall of Sapele, and Warri, to just exit of industries. Had the city remained safe, the SMEs would have remained. And once the SMEs are there, new industries will move in. That’s what happens with Lagos.

Do you know how many industries have left Lagos since the 1980s? The likes of Michelin Tyres and co, but the city remained vibrant because of thriving commerce. In the end, new industries sprang up.

Take a look at the economy of the Southeast for instance. And let’s take Aba and Onitsha in particular. How many large corporations do you know in Onitsha and Aba, but yet the two cities are commercial nerve centers raking in billions on daily and sustaining the economies of their state.

OgaFactCheck:


Apart from. The CIT, all the aforementioned taxes are paid to the State Government via the residency rule. Daily tickets are local government levies. They are technically not called taxes.

You are bringing technicalities into the discourse?

Levies or taxes these are just semantics. Both of them all go into the govt coffers.

And who told you that state governments have no control or share of levies collected from markets?

You mean the state governments that couldn’t leave even Federal Government allocations to LGs will leave them to be collecting and keeping levies from those large markets to themselves alone?

And besides, why do you think those tickets are usually more than one?

In most cases, they are 3. One for state government, one for LG, and one for Market Association. And this is a daily obligation.

Penguin2:

You are bringing technicalities into the discourse?

Levies or taxes these are just semantics. Both of them all go into the govt coffers.

And who told you that state governments have no control or share of levies collected from markets?

You mean the state governments that couldn’t leave even Federal Government allocations to LGs will leave them to be collecting and keeping levies from those large markets to themselves alone?

And besides, why do you think those tickets are usually more than one?

In most cases, they are 3. One for state government, one for LG, and one for Market Association. And this is a daily obligation.

You are basing your arguments on assumptions without concrete knowledge of what you are talking about. I reiterate, levies are for the LGAs. The one (with exception of road taxes) paid daily are for local authorities. State's tax for entrepreneur (if you like call it levy) is paid once a year. Note that the entrepreneur is required to pay PAYE monthly and consumption tax monthly or quarterly (depending on the jurisdiction) to State on behalf of their employees. The BIG question is Do they usually comply?

Taxes at both federal and state's levels are complex but the information provided above focuses on the usual or normal circumstances.

Shadomaan7:
The reason why some people are yet to get their breakthrough is because they are always wishing others bad luck. How would your wishes of bad luck come true when you are wishing others the same?

It's an opinion my friend we are not here for banter