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On expenditure performance for Q1, Delta State had spent 33.6% of its budgeted expenditure for the year. Ekiti State, on the other hand, had spent one-quarter of its budget for 2023 in the same period.
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Dataphyte reviewed the budget performance documents of different states to analyse what they earn as tax. A review of some selected states reveals disparities in their tax earnings.
Oil Producing States in the country receive 13 per cent derivation as a benefits transfer scheme as stipulated in Section 162, Sub-section 2 of the Nigerian Constitution.
The Federal Government of Nigeria has earmarked the sum of N2.47 trillion as Service Wide Vote (SWV) in the 2022 proposed budget, despite concerns around it.
Why is everyone concerned at the alarming revenue-debt ratio of Nigeria even when the debt-GDP ratio shows Nigeria is not only creditworthy but also has the capacity to pay its debts.
Nigeria’s revenue to debt ratio appears to be one of the worst in the world according to Debt Management Office (DMO) data.
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A Dataphyte review of the 2019 Auditor General’s Federation Annual Report shows that the country may have been shortchanged to the tune of N666.15 billion due to the discrepancies observed in the financial books of the Nigerian National Petroleum Corporation (NNPC) and Nigeria Custom Service (NCS).
One of the revenue sources for states is road taxes. According to the National Bureau of Statistics (NBS), they are daily levies paid by commercial transporters operating within the state.
The budget call circular from the Ministry of Finance Budget and National Planning shows that the 2022 budget will be less than 2021. The Federal Government of Nigeria (FGN) has set a budget expenditure ceiling of N13.98 trillion for the 2022 fiscal year. This figure comprises a fiscal revenue of N8.762 trillion, and N5.218 trillion will be incurred as the deficit.
A total sum of N120 billion was spent by the Nigerian government to augment FAAC revenue shortfalls between January and July 2021.
The federal government debt rose from ₦23.3 trillion in 2019 to ₦32.92 trillion by the end of 2020. This crippling debt burden reveals Nigeria’s shrinking revenue base and an unbridled appetite for spending.
Kebbi State’s Internally Generated Revenue (IGR) increased from ₦7.37 billion in 2019 to ₦13.78 billion in 2020, according to data released by the National Bureau for Statistics NBS. This 87% growth in Kebbi’s IGR was the highest IGR growth rate among the 36 states and the FCT in 2020. Ebonyi state came second at 82% IGR growth rate and Oyo at a distant third with 42%.
In 2019, the Nigerian National Petroleum Corporation (NNPC) paid the sum of ₦508 billion on petrol subsidy. This spending lowered the revenue it should remit to the government coffers. By implication, for every kobo spent to subsidise fuel, there is a corresponding loss of funds for the necessary infrastructure to every citizen.
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A total of 158 agencies scheduled for software acquisition and update in the 2021 budget; The total amount stands at ₦24.6 billion; A centralized approach would see the government spending less on software and in the process unifying her administration for all MDAs; Moreover, given the government’s penchant for missing out on its reve
Across the world, illegal deforestation threatens revenue earnings and environmental sustainability. Nonetheless, Osun and Oyo document illegal deforestation as just one of the many threats. Boundary disputes, lack of required technical expertise, underfunding and low level of government’s commitment, absence of requisite infrastructure, poaching, and tax evasion foreshadows danger to the forest industry in these states. Beyond these, the sector is still very closed. Data are mostly unavailable, near obsolete, or conflicting. Little is known of the framework for forest resource governance in Nigeria. In this report, DATAPHYTE’s reporter, Paul Adeyeye, reveals his findings as he explores the forest sector in two southwestern states.
