If you want the Naira to appreciate in value, do these twenty things.
1.Instead of MTN, Airtel or Etisalat, use Glo
2.Instead of Mercedes, Range Rover, or Honda, buy Innoson
https://t.co/BQnll70RVa Air Peace over Air France, KLM, or Lufthansa
https://t.co/LbIiI1rlfg at First Bank, UBA, GTBank, and Zenith over Stanbic
https://t.co/3KqOm2fGWm AriseTV, Channels and NTA over Multichoice DSTV
https://t.co/wED9RQUb8W Dangote and Ibeto cement, and avoid Chinese brands
https://t.co/zASZwbJaGL and buy Enyimba FC, Kano Pillars, and 3SC over Manchester United, Barcelona, PSG, and Napoli
https://t.co/n33INSX9vb music of Nigerian origin from streaming sites instead of downloading foreign artistes
9.Patronise DAKOVA, Mai Atafo, Mudi Africa, and JADZ Couture (maker of my babanriga and agbada. Show her some love on +234 704 477 9973) over Armani, Gucci, Balenciaja, and Louis Vuitton
10.Drink palm wine over champagne, Hennessy, Scotch Whiskey, and Irish Cream
https://t.co/SZXZHMh47p with your local market woman instead of at Shoprite
https://t.co/OthgOyg8lB and eat only made in Nigeria rice, and let Thailand eat their rice
13.Consider cassava bread over bread made with foreign-grown wheat
https://t.co/mUcJDDwper Zinox PCs, laptops, and tablets
15.Instead of Birdseye custard, Quaker oats, and Kellogg's cereals, drink akamu, pap, and ogi
16.Leave KFC, and patronise Mr Bigg's, Tantalizers, and Mama Put
17.Stop using Holland Wax, and imported George and wrapper. Use Kaduna textiles, aso oke, Akwete cloth, and other local textiles
https://t.co/J1X7XsWXBF less Hollywood and Bollywood movies, and go for Nollywood and Kannywood
https://t.co/ZGU2LIJBwR and honeymoon in Obudu Cattle Ranch, Yankari Games Reserve, Ikogosi Warm Springs, and attend Argungu Fishing Festival
20.Reject imported frozen fish, meat and dairy products and buy fresh produce from local producers
Nobody is coming to save Nigeria. It is only Nigerians that will save Nigeria. Local brands may or may not be as good as foreign ones, but with continued patronage, they will improve in quality. Buy them, and your Naira will rise along with your personal happiness and the international rating of the green Nigerian passport. Your value is tied to Nigeria's value. Buy Nigerian and Nigeria's foreign reserves, trade balances, and debt to GDP ratio will automatically improve.
#TableShaker
Mallam Abba Sodangi, you will forever be remembered, appreciated, celebrated and prayed for. You lived an exemplary life. I miss you Brother. May you continue to rest in Aljannah Firdaus. Ameen.
Happy Birthday @amohammed518 .
We have come a long way, one thing is clear, your services would definitely be needed in our government.
Keep getting wiser My Friend.
Every year, MTN Nigeria Limited makes ₦2 trillion in revenue from Nigeria. That is more money than Nigeria spends on critical infrastructures annually. Almost 100% of MTN Nigeria's profit after tax is repatriated to South Africa. Please fact-check me. The same is true for DSTV, which makes ₦300 billion annually from Nigeria.
Do you know the massive downward pressure that a combined total of almost $5 billion that MTN, DSTV, and other South African companies repatriate back home to South Africa annually from Nigeria has on the Naira? Think people. Think! That money is leaving Nigeria to support the purchasing power of the South African Rand. Actions have consequences.
Now, how many major Nigerian companies are doing business in South Africa? Please fact-check me again. Under the South African Income Tax Act, South Africa places a 28% tax on foreign companies doing business in their country.
And in addition to the 28% tax you pay, you have limits on how much of your profits you can repatriate to your home country. And even the amount you can repatriate is subject to an additional repatriation tax, different from the initial 28% tax you pay.
Nigerians must stop emoting and start reasoning. We ought to place far higher taxes on South African companies doing business in Nigeria than the taxes paid by Nigerian companies, especially where Nigerian companies are competing with those South African companies. And we should also limit their abilities to repatriate profits from Nigeria to South Africa.
This may be reduced for those South African companies doing business in areas where we have a shortage of local companies with the ability to compete, and for which there is a high need.
That is what Europe, America and Canada are doing to us. Placing serious obstacles on immigrant visas for regular Nigerians, but lowering the bar for Nigerian doctors, nurses, and teachers, because they need those Nigerian professionals due to shortages in their homelands.
What did Christ say in the Gospels?
"From whom do the kings of the earth collect duty and taxes—from their own children or from others?” “From others,” Peter answered. “Then the children are exempt,” Jesus said to him.-Matthew 17:26.
Prophet Muhammad (Sallallahu Alayhi Wasallam) also placed Jizya Tax on foreigners.
And why should we even have MTN in Nigeria when Globacom can provide the same services that MTN provides, and their revenue and profit are circulating in Nigeria? Why?
Our tax regime must work first in favour of Nigerian companies the way South Africa's tax regime works to favour South African owned businesses.
Nigeria must be run in a businesslike manner.
This is a practice in the European Union, England and the United States. Let me give an example.
The EU, UK, and the US allow African countries to export cocoa and coffee to their domains without much taxes. But if any African country attempts to refine their cocoa into chocolates or their coffee into instant coffee, they get slapped with a heavy import tax.
As a result, and please fact-check this, the whole of Africa, including Nigeria, makes a paltry $2.4 billion from chocolate imports. In comparison, Germany alone makes over €4.5 billion (Euros, not dollars) annually refining and re-exporting cocoa imported from Africa. That is double what the entire African continent makes from her sweat. How is that fair?
That only happens because sub-Saharan African countries, with perhaps the exception of South Africa, do not have reciprocal tax regimes.
The EU, UK, and US are very good at using tariffs and retaliatory actions to promote their own military-industrial complexes. We must also be alive to this and assert ourselves economically.
Let us impose exactly the same taxes that Germany and the EU impose on our cocoa and coffee on Lufthansa. We can spare Siemens because we need them to boost our power infrastructure. They cannot complain. It is economic tit for tat.
#TableShaker
@jigga_81@index_abbey @StFreakingKezy Will that really be smuggling, I think it's more of exporting now, since it's a product like every other product, it may only be smuggling if they don't pay the required taxes and levies.