So something happened in Senegal 🇸🇳 yesterday but people in Nigeria might not know.
This senegalese president who got into power because he looked like a handsome youth.
He removed his prime minister from office yesterday. They both got the mandate to office
The country is effectively insolvent, with public debt hitting 135% of GDP. They continue to pay heavy subsidy on petrol ⛽️
IMF on their neck, domestic debt astronomical.
.............
Conversely President Tinubu that some Nigerians don't like has paid off Nigeria IMF debts and he is currently building infrastructure all across Nigeria ...etc
I just hope Nigerians will look and be honest with themselves.
On the morning of May 29th, 2023:
• $1 = N460
• 1 liter of fuel = N197
• 1 kg of gas = N570
• 1 crate of eggs = N2,500
• 1 bag of pure water = N150
Tinubu 3 years in office:
After subsidy removal
Naira devaluation
Taxes upon taxes
Higher NEPA tariff to band A B C D
Higher income tax
Then;
• $1 = N1,400
• 1 liter of fuel = N890
• 1 kg of gas = N1,200
• 1 crate of eggs = N6,000
• 1 bag of pure water = N400
And you’ll dress to go and vote for him next year, when he clearly told you don’t vote for me if I can’t fix electricity within 3 years.
I know who you are. Some people are NOT well.
THE TRUTH ABOUT THE 7.5% VAT ON TRANSFERS: STOP PANICKING!
If you’ve seen the news that a 7.5% VAT on mobile transfers and USSD transactions starts on January 19th, you might be worried that the government is about to "eat" your money.
The headlines are scaring people, but the math shouldn't. A lot of people are misinterpreting this directive. Let’s break it down simply so you can see the actual impact.
1. The Big Misconception
Many people think that if they send ₦100,000, the government will take 7.5% of that amount (which would be ₦7,500).
THIS IS 100% FALSE.
2. The Reality
The 7.5% VAT is NOT charged on the money you are sending (the principal). It is charged ONLY on the SERVICE FEE your bank or fintech (Moniepoint, OPay, Kuda, etc.) charges you.
3. Let’s Look At The Math
If you send ₦100,000 today:
• The Principal: ₦100,000 (Your money)
• The Bank Fee: ₦50.00 (What the bank charges for the service)
• The 7.5% VAT: ₦3.75 (This is the charge, 7.5% of the ₦50 fee)
• EMTL (Stamp Duty): ₦50.00 (The standard flat levy)
• TOTAL COST TO YOU: ₦100,103.75
4. What about USSD?
If you use a code like *737# or *919# and the session fee is ₦20:
• The 7.5% VAT on that fee is ₦1.50.
• Your total cost becomes ₦21.50.
It is a kobo-difference, not a life-changing amount.
5. Why Is This Happening? 🤔
The Nigeria Revenue Service (NRS) is simply ensuring that all digital services are fiscalized. Just like you pay VAT on a bottle of drink or a data plan, you are now paying VAT on the service of digital banking.
The Bottom Line:
Your savings are safe. Your capital isn't being slashed. This is a tax on the bank's commission, not your hard-earned wealth.
Don’t let misinformation cause unnecessary stress. There is a huge difference between a Tax on your Money and a Tax on a Service Fee.
Share this to clear the confusion!
The data below exposed the poor mental and financial thinking of the Tinubu critics....
Ghana debt = $50billion
Ghana population = 35million
Ghana debt per person = $1,430
South Africa Debt = 300billion
Population - 55million
Debt per person - $5,454
Qatar debt - $93billion
Population - 3million
Debt per person - $31,000
Libya debt - $60billion
Population - 7million
Debt per person -$8,750
Saudi Arabia - $391billion
Population - 54million
Debt per person - $7,854
Gabon debt - $15 billion
Population - 2.2 million
Debt per person - $6,750
Egypt Debt - $261billion
Population - 118million
Debt per person - $2,300
Angola debt - $64billion
Population - 39 million
Debt per person - $1,680
Nigeria Debt - $100billion
Population - 240million
Debt per person - $414.
Na poor man and poor thinkers dey fear debt....
From the data above ... It's obvious that Nigeria doesn't have debt Crisis... What Nigeria have is revenue crisis....
Compare to it's peers globally.... Nigeria have the lowest debt per Capita on Earth
Tinubu directly and indirectly grew the revenue of Lagos by 28,000% in 26 years....
The first of it's kind in the whole of Africa....
With such a man as Nigeria president....
Tinubu would grow Nigeria revenue to a point where Nigeria can borrow enough to fix it's over $1trillion infrastructural deficits....
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Nigerian commercial banks, in collaboration with network providers, are exploiting Nigerian citizens. They charge us for unsuccessful USSD transactions, which are literally their fault. This is unfair, and we Nigerians want it to STOP!
Everyone REPOST and tag @cenbank and other relevant authorities.
@Santosweb4 @TouchlineX Lewandowski scored 2 goals in Barcelona's 6-0 win over Valencia tonight. He's up to 7 in La Liga this season, hot on Mbappé's heels@Santosweb4 @TouchlineX Lewandowski scored 2 goals in Barcelona's 6-0 win over Valencia tonight. He's up to 7 in La Liga this season, hot on Mbappé's heels@Santosweb4@TouchlineX Lewandowski scored 2 goals in Barcelona's 6-0 win over Valencia tonight. He's up to 7 in La Liga this season, hot on Mbappé's heels!
I know your home country is hard.
No matter how desperate you are, please avoid these countries!!
Add urs ✍️
1. Albania 🇦🇱
2. Georgia 🇬🇪
3. Kosovo 🇽🇰
4. Turkish Republic of Northern Cyprus 🇨🇾
5. Moldova 🇲🇩
6. North Macedonia 🇲🇰
7. Bosnia and Herzegovina 🇧🇦
8. Belarus 🇧🇾