Is tax relief ever a solution to the effect of the fuel subsidy removal?

[EarnOnVictor]

Everyone knows what is going on in the country now, the fuel subsidy seems to have been removed even before the official budgeted date and might continue to go up to at least N750 in the nearest future. The effect will by no doubt bite hard as the cost of transportation, commodity prices and others are now taking an upward direction.

As part of the efforts to lessen the effect on the masses, NLC and its cohorts are demanding N200,000 minimum wage and tax relief for the masses. In Nigeria we all know, the N200,000 will only happen in our dreams...lol, if the government grants N70,000, then we are so lucky. But this is still not my plight here.

My plight is that many have been saying the only best solution is for government to grant every citizen tax relief and forget about the minimum wage increment. Personally, this is awkward to me as it amounts to creating a problem while trying to solve another.

I like to read from you guys about this.

[1714688864]

1714688864

[1714688864]

1714688864

[1714688864]

1714688864

[1714688864]

1714688864

[1714688864]

1714688864

[Charles-Tim]

As part of the efforts to lessen the effect on the masses, NLC and its cohorts are demanding N200,000 minimum wage and tax relief for the masses. In Nigeria we all know, the N200,000 will only happen in our dreams...lol, if the government grants N70,000, then we are so lucky. But this is still not my plight here.

NLC are dreaming. They need to be realistic, we all know that ₦200000 minimum wage is not possible in 2023.

My plight is that many have been saying the only best solution is for government to grant every citizen tax relief and forget about the minimum wage increment. Personally, this is awkward to me as it amounts to creating a problem while trying to solve another.

To lessen the burden of tax on workers. It is like someone using paracetamol for cold and catarrh. How much tax are the government workers paying? It can not have the value that increment in minimum wage would have.

[SatoPrincess]

The NLC knows that the amount they are asking for will not be approved by the FG. It took how many years before minimum wage was increased to 33,000 naira…my corper friends were very happy to earn that much since it was higher than the previous years. Asking the today government for an increase of x6 is unrealistic and tbh they don’t put much of a bargain. I don’t believe the NLC will get what they want, they should come with a better plan.

[Wiwo]

Tax relief is not an option because it won't reflect on every sector of the economy since we operate a consumer-based economy, what will have more impact on the economy is the increase in the minimum wage that way the purchasing power of the workers will be increase and microeconomic business will increase in their sales and development and that will inject more money into the economy and also meeting up with today's economic realities and global standard but 200,000 naira minimum is quiet out of reach by now but something close to that will be the priority target for the NLC and the government to settle on as a common ground.

On the issue of tax relief, it won't reflect the true realities on the ground and also will not allow for tax inclusion take for example if value-added tax is removed, what becomes the only tax someone that is earning from Bitcoin and other cryptocurrencies will pay, after all there is no income tax on crypto income only the VATs that are paid on purchase goods that is the only deduction to government from someone that earns from untaxed sector like cryptocurrency and other unregulated incomes.

[Kelward]

The NLC knows that the amount they are asking for will not be approved by the FG. It took how many years before minimum wage was increased to 33,000 naira…my corper friends were very happy to earn that much since it was higher than the previous years. Asking the today government for an increase of x6 is unrealistic and tbh they don’t put much of a bargain. I don’t believe the NLC will get what they want, they should come with a better plan.

I doubt say wage increase for Nigeria, go better our standard of living, because if government increase salary, business owners go also want to increase the prices of the goods wey dem de sell, to also benefit for di increase. At di end of the day naira go devalue and all dat plenty money no go fit improve standard of living. Check for instance dis fuel subsidy wey dem do rush rush go remove, di increment of fuel, de affect di economy negatively, because e don make transportation to go high and di chain reaction be say every other commodity de follow am increase in prices.

Nigeria suppose focus on infrastructural development,  build refineries, encourage industrial growth, support small businesses to grow, support skills acquisition. Instead na how we go take de spend money everybody de focus on. So as you talk am, e no de realistic for di government to increase ×6 of minimum wage, e no go favor di economy at all.

[CryptopreneurBrainboss]

Everyone knows what is going on in the country now, the fuel subsidy seems to have been removed even before the official budgeted date and might continue to go up to at least N750 in the nearest future. The effect will by no doubt bite hard as the cost of transportation, commodity prices and others are now taking an upward direction.

Tax relief no go get any effect, how much tax wey we dey even pay self? We aren't been taxed that much when you reason other countries own but e dey okay self because even with all the taxation nothing go still improve for the country instead na some politicians go dey one side chop all the money finish. Me I support wetin all man dey talk here way be the increase of minimum wage. Atleast make we make am the least 100k per month because dat 200k just dey too much to achieve and I hope una understand say just increasing minimum wage no go solve our problems because as it stands, no subsidy again meaning filling stations fit sell as them like.

Immediately minimum wage increase na so every other thing go increase, filling station fit add price and foodstuffs and transpiration go add price too. One thing for this country na say, price increase for one side they affect the rest part of the country. People go reason say since government dun increase minimum wage say money dey ground and dem go increase the price of their service (increasing their own minimum wage). Make we no go create another problem for ourselves say we wan solve subsidy wahala.

[Asiska02]

As part of the efforts to lessen the effect on the masses, NLC and its cohorts are demanding N200,000 minimum wage and tax relief for the masses. In Nigeria we all know, the N200,000 will only happen in our dreams...lol, if the government grants N70,000, then we are so lucky. But this is still not my plight here.

Even they, the NLC members know the price is too much to ask for and it cannot be possible. No sane government will pass such bill because I feel it’ll cause more harm than good to the people. Come to think of it, Nigeria is not that bad that an extravagant price is needed for minimum wage. With the current economy state of the country 200K is too much but maybe 70K can be looked into for consideration after fuel subsidy has been removed.

My plight is that many have been saying the only best solution is for government to grant every citizen tax relief and forget about the minimum wage increment. Personally, this is awkward to me as it amounts to creating a problem while trying to solve another.

I like to read from you guys about this.

This is not a realistic way to solve hardship and seek relief for the people of the country. Do you ever imagine how much money is generated from tax? And how it has helped in one way to sustain the economy of the country? I’m not sure there’s any country that can survive without tax. Even if the minimum wage is increased, tax will be available and may likely increase also.

[Doan9269]

As for someone like me, I doubt if the fuel subsidy removal will reduce the pressure on tax payment for everyone involved, they may rather take it as an avenue to increase the rate of community development and other things they are planning to do to increase unemployment, poverty, disease and so many as long as it will include a community initiative services, the tax is also part of what they use in giving back the the people what they want as development to the people.

[Cryptomultiplier]

Everyone knows what is going on in the country now, the fuel subsidy seems to have been removed even before the official budgeted date and might continue to go up to at least N750 in the nearest future. The effect will by no doubt bite hard as the cost of transportation, commodity prices and others are now taking an upward direction.

Tax relief no go get any effect, how much tax wey we dey even pay self? We aren't been taxed that much when you reason other countries own but e dey okay self because even with all the taxation nothing go still improve for the country instead na some politicians go dey one side chop all the money finish. Me I support wetin all man dey talk here way be the increase of minimum wage. Atleast make we make am the least 100k per month because dat 200k just dey too much to achieve and I hope una understand say just increasing minimum wage no go solve our problems because as it stands, no subsidy again meaning filling stations fit sell as them like.

Immediately minimum wage increase na so every other thing go increase, filling station fit add price and foodstuffs and transpiration go add price too. One thing for this country na say, price increase for one side they affect the rest part of the country. People go reason say since government dun increase minimum wage say money dey ground and dem go increase the price of their service (increasing their own minimum wage). Make we no go create another problem for ourselves say we wan solve subsidy wahala.

Na just the scenery of what to expect be this.
We Nigerians will always believe that as long as the minimum wage has been increased, that there is money in the country.
No be everybody dey benefit from minimum wage, firstly.

Tax relief for people wey dey hardly pay tax get as e be too. It's like giving someone an invisible baton to complete the relay. How e go take win even if e carry first?

Earlier today, BAT visited former president Good luck and it is concerning this subsidy issue. Let's hope that BAT will be able to borrow some wisdom from whatever plans the former president was getting ready to enact then, because we are in dire need to ease this inflation and rising cost of living.

[uchegod-21]

My plight is that many have been saying the only best solution is for government to grant every citizen tax relief and forget about the minimum wage increment. Personally, this is awkward to me as it amounts to creating a problem while trying to solve another.

I like to read from you guys about this.

We get two ways to look into this your matter but for the mean time President Tinubu moves dey positive. I for talk say we need both wage rise and tax relief in two different ways.

• For government workers and Private workers them need this minimum wage rise. No doubt say price of goods and services don go upto 3x even before the subsidy removal. So, if the purchasing power is increased in both public and private sectors, things to try balance
• Another na tax relief for SME and other business owners, this one go encourage people not to depend on government jobs and salary jobs and try use their hand work since government fit give them loan and tax relief join onto.

[Mate2237]

If tax is really used for the main purpose of collecting it, it would have relief many things in Nigeria but tax money has been diverted to personal pockets and other things in the country. The money that was using for subsidy is big enough to settle many things in the country.
Tax relief will only help tax payers and the tax payers increase their good and services, so I support the tax relief movement because with that things might come down again.

[Merit.s]

To me I go say NLC dey fuck up to come up with such amount for minimum wage when them no say e no go fit dey possible for this country. I go say if Government increase minimum wage to a reason amount,e go help small to fit survive for this hardship because na everyday our Government dey use essential commodity take dey punish,suffer and extort money from us. If na to remove tax,I guess say that one no go reach anywhere because no everybody wey dey do business for the country dey pay tax to government. Nigeria problem too big because na since 1960 na e this problem do dey accumulate till now. Imagine say Nigeria problem go soon be 63yrs old. Na only to share this country sure pass,if not the problem fit continue to dey grow.