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Tag: IGR

  • States recorded N264.38bn IGR growth in Q3 2018 – NBS

    States recorded N264.38bn IGR growth in Q3 2018 – NBS

    The National Bureau of Statistics (NBS) in its states level Internally Generated Revenue records for Q3 2018 says States and Federal Capital Territory recorded N264.38bn as IGR in the third quarter of 2018, compared to N279.78bn recorded in the half-year of 2018.

    The report was released on Friday by the bureau

    This indicated a negative growth of -5.08 per cent quarter on quarter, the NBS stated.

    In the report, 17 states recorded growth in IGR while 20 states recorded decline quarter on quarter at the end of Q3 2018.

    The net allocation from the Federal Account Allocation Committee in Q3 2018 was put at N1.82tn while the total revenue available to the states was put at N2.72tn.

    However, the value of foreign debt stood at $4.22bn while domestic debt hit N3.38tn at the end of 2018 half year respectively, the NBS added.

    According to the NBS, Lagos led the figure with an aggregated N87.06bn disaggregated IGR collection in Q3 2018.

    During the period under review, Abia had N3.03bn; Adamawa had N1.37bn; Akwa Ibom had N6.7bn; while Anambra had N4.1bn.

    The NBS revealed that Bauchi had N2.43bn; Bayelsa had N3.19bn; Benue had N2.3bn; while Borno had N1.57bn.

    From the figures released, Cross River had N3.21bn; Delta, N13.14bn; Ebonyi, N1.32bn; Edo, N7.06bn; Ekiti, N1.22bn; Enugu, N4.14bn; while Gombe had N1.26bn.

    Moreover, Imo had N4.47bn; Jigawa, N2.34bn; Kaduna, N5.99bn; Kano, N7.09bn; Katsina, N1.61bn; Kebbi, N1.14bn; Kogi, N2.53bn; Kwara, N5.96bn; while Nasarawa had N1.59bn.

    Niger had N1.65bn; Ogun, N20.57bn; Ondo, N5.04bn; Osun, N2.73bn; Oyo, N5.88bn; Plateau, N3.26bn; Rivers, 2.88bn; Sokoto, N7.75bn; Taraba, N1.51bn; Yobe, N1.26bn; and Zamfara, N1.79bn.

    The statistics office also disclosed that the FCT had N14.05bn disaggregated IGR collection in Q3 2018.

    States IGR data was computed by the NBS and the Joint Tax Board from official records and submissions by the 36 State Boards of Internal Revenue.

  • Delta records N154bn IGR in 3 years

    The Commissioner for Finance in Delta, Mr David Edevbie, said the state recorded N154 billion as its Internally Generated Revenue (IGR) between Year 2016 and Year 2018.

    Edevbie, who stated this on Tuesday in an interview in Asaba, said the state realised approximately the sum of N44 billion as IGR in Year 2016; it realised N52billion in Year 2017 and 58.4 billion in Year 2018.

    He said that the total IGR generated by the state amounted to N154 billion during the period.

    The commissioner also said that the state intended to come up with new plans on how it would increase its IGR this year.

    He added that there had been a continuous process since 2015 to improve on the state’s IGR on a yearly basis.

    “First, in a bid to remove the perception of multiplicity of taxes, we have laid emphasis on harmonising taxes and reducing the number of tax consultants.

    “This has gradually improved accountability for all tax collections.

    “Secondly, the adoption of the Electronic Treasury Receipt has helped the state to eliminate reporting time lags and minimise leakages and the suppression of funds in its revenue collection process.

    “Thirdly, we are now focused more on the informal sector and the unregulated economy, especially, the micro- informal sector.

    “With the introduction of presumptive tax, more than 500,000 people had been captured into the tax net from the informal sector.

    “In addition, there has been tremendous improvements in revenue from land charges.

    “Once all these reforms are institutionalised and sustained, there will be significant growth in the state’s aggregate tax collections,’’ Edevbie said.

    The commissioner also said that the state government had scheduled several training programmes for tax and revenue officers this year.

    He said that they would cover electronic-tax system and the use of the Bureau of Internal Revenue (BIR) internet portal to drive tax returns among others.

    He said that there was a strong focus by the state to make the BIR becomes ICT driven.

    According to him, awareness campaigns have also been designed for the public.

     

  • Okowa presents N367bn 2019 budget proposal to Delta Assembly

    Gov. Ifeanyi Okowa of Delta on Wednesday presented a budget estimate of N367.09 billion for the 2019 fiscal year to the State House of Assembly for approval.
    Presenting the budget christened, “Budget of Sustainable Growth,” Okowa said it was made up of N157.09 billion and N209.99 billion Recurrent and Capital Expenditures respectively.
    The proposed budget is N58.20 billion higher than the 2018 budget of N308.88.
    According to the governor, the 2019 recurrent expenditure is higher than that of 2018 by N9.823 billion
    “The proposed capital estimate for 2019 is N209 billion is N48.3 billion or 29.9 per cent higher than that of 2018 capital budget of N161.6 billion,” he stated.
    He said that in order to achieve the proposed target, government would intensify enforcement of appropriate tax legislation to increase the tax base to N73.4 billion annually.
    Okowa said that the budget would be funded through an expected statutory allocation of N217.89 billion, a Value Added Tax, (VAT) of N13.05 billion and other capital receipts of N62.73 billion.
    The governor highlighted other sources of funding for the proposed budget to include Internally Generated Revenue (IGR) of N73.4 billion, representing 20.77 per cent of the total projected revenue.
    A breakdown of the budget showed that N79.6 billion was allocated for roads, N2.9 billion for agriculture, N3.9 billion for sports development and N1.1 billion for jobs creation.
    Water resources got N1.6 billion with health and education getting N8.6 billion and N26.8 billion respectively.
    “We have christened it a budget of sustainable growth, because the year 2018 witnessed a significant improvement in our revenue receipt; it is our hope that this trend is sustained in 2019.
    “Our expenditure profile from January to June, 2018, showed that N66.5 billion was spent on recurrent items as against a proportionate approved budget of N73.7 billion, representing a budget performance of 94.4 per cent.
    “Also, N161.6 billion was budgeted for capital expenditure in the same period, with N38.6 billion spent as against N80.8 billion, representing a performance of 47.8 per cent,” he said.
    The governor said though capital expenditure performance was not a true reflection of performance, better performance was being expected in the third and the fourth quarters of 2018.
    “The first three budgets of this administration were largely centered on charting five main pathways critical to actualising our reform agenda of job and wealth creation.
    “The proposed 2019 budget will consolidate, expand and deepen the process as we pursue our transformation goal of building a strong diversified and inclusive economy,” he said.
    Receiving the budget proposal, the Speaker, Sheriff Oborevwori, lauded its timely presentation.
    Oborevwori assured the people of the state that the legislature would do justice to the proposal and give it accelerated passage.
     

  • Delta IGR hits N51bn, as Asaba airport sets for privatisation

    Governor Ifeanyi Okowa disclosed that Delta state’s annual Internally Generated Revenue (IGR) has hit N51 billion.
    The governor stated this at the 14th All Nigeria Editors Conference in Asaba on Friday.
    According to him, the IGR was as low as N30 billion in 2016 and following some re-engineering, his administration was able to increase it to N51 billion annually.
    He noted that government was able to increase its revenue by making sure that all target groups including the market women were captured in the tax system.
    “We were able to collect taxes from the market women not just as tax but also as premium for the state health insurance scheme, which they benefit from by paying their taxes,” he said.
    He also explained that to effectively manage the Asaba Airport, and improve on the state’s IGR, the government had put necessary machinery in place to commercialise or privatise the airport.
    He said that the airport, which was downgraded in 2014 had now been upgraded to category six, to enable it take bigger planes like Boeing 737.
    The governor explained that government’s plan was to develop the airport into a cargo airport, adding that since government could not effectively manage the facility, it resolved to engage the private sector.
    “We got technical advise to privatise or commercialise the airport and we have published for investors to bid for it,” he said.
    The governor, however, disclosed that the state government deploys about N1 billion to payment of pensions monthly and about N7 billion for salaries of the workers in the state.
    According to the governor, the state workforce stands at about 50,000.
     

  • Delta Govt generates N51 billion IGR — Finance Commissioner

    The Delta Commissioner for Finance, Chief David Edevbie, on Thursday said that the state government generated N51 billion as Internally Generated Revenue (IGR) in 2017.

    Edevbie disclosed this in Asaba at the state’s 2018 Ministerial Press Briefing organised by the State Ministry for Information for the various Ministries, Department and Agencies (MDAs) to present their reports.

    He said that the monthly IGR of the state in the year under review had hovered between N3 billion and N4 billion.

    The commissioner said the N51 billion represented about 73.2 per cent performance, compared to the budgeted revenue of N70 billion for the period.

    “The amount also represents an increase of 13 per cent when compared to the IGR of N45 billion received in 2016,“he said.

    He said that the state’s revenue board was putting a new and secured system in place to capture all taxable persons and to close up gaps to ensure that the state met its monthly revenue target of N7 billion.

    “The Delta Board of Internal Revenue (DBIR) is deploying new strategies and initiatives towards realising a monthly revenue target of about N7 billion.

    “To expand the database of taxpayers, the board is also focusing on capturing more than 70 per cent of taxable persons in the informal sector in the state’s tax net.

    “It has increased its tax agent database from 1,800 to 5, 800,” Edevbie said.

    He noted that the state statutory allocation, value added tax, 13 per cent revenue derivation from Jan. to Dec. 2017 was N179.5 billion, representing about 61 per cent performance, when compared to the state’s estimated revenue of N294.5 billion for the same period.

    Edevbie also said that the state spent a total of N208.9 billion, compared to a budget of N294.5 billion.

    “Of this N208.9 billion, N145.6 billion, representing 92.2 per cent performance was spent on recurrent expenditure, compared to the provision of N158 billion.

    “While the sum of N63.2 billion, representing a budget performance of 46.4 per cent, was spent on capital expenditure, compared to the budgeted N136.4 billion in the period under review,” he said.

    The commissioner said that the state’s debt stock currently stood at N228.3 billion, adding that a new loan was N9.5 billion and that the state debt service principal and interest was N21.9 billion and N3.4 billion, respectively.

    He said that due to lower revenue receipts in the year under review, government released a total sum of N17.3 billion to the Delta State Oil Producing Area Development Commission (DESOPADEC), instead of N28 billion in the budget.

    He also said that his ministry, on behalf of the state government, had paid the N42.3 billion out of the principal component of the N50 billion bond floated in 2011.

    “The outstanding principal balance on the bond is N7.7 billion, as at Dec 2017,” Edevbie said.

    The commissioner said that N4 billion was approved for the ongoing Asaba International Airport resurfacing of the 3.7 kilometre runway, among other ancillary works.

    He said that the state government had released a total sum of N2.5 billion to Setraco, the contracting firm handling the runway project.

    “The airport has temporarily closed for five weeks to enable the resurfacing of the 3.7 kilometer runway,’’ he said.

    The commissioner added that when completed, bigger aircraft would land at the airport and other benefits would start rolling in.

     

  • Edo Internally Generated Revenue records 500% growth

    Edo State Governor Godwin Obaseki has said Internally Generated Revenue (IGR) in the state has recorded a 500 per cent growth.

    Governor said this when he inaugurated the Edo State Council of Traditional Rulers and Chiefs, at the Government House, in Benin City.

    He said the reforms being implemented by his administration have yielded positive result, as annual collection in local council areas climbed from N30 million in November 2016 to 150 million in November this year.

    Obaseki said that the appreciable rise in revenue collection was as a result of various institutional reforms being implemented in the state, noting that the use of automated systems, such as Point of Sale (POS) machines, tax vouchers, among others, have revolutionised revenue collection in the local councils.

    He added that the increased revenue profile has made local councils buoyant and now able not only to meet their statutory obligations, but also contribute to development.

    The governor said that the state took a methodological approach in attaining the feat with IGR, as it conducted pilot study in 9 locations in Oredo local council, to operationalise the concept, adding, “When we conducted the study, Oredo LGA used to remit N42,000 a day, but after we introduced electronic devices, that sum climbed to N500,000.”

    Assuring that even more revenue is expected in the coming months, he said, “We are opening up Edo State for business and companies are heading down here. It is expected that with increased business activity to be occasioned by our investment drive in the state, more companies will spring up and the revenue profile we see today, will rise even further.”

    Obaseki said that the state is now a Mecca for investors, which is why heavyweights in agriculture, Fast Moving Consumer Goods (FMCG) companies, and manufacturers are siting their businesses in the state.

    He added, “The State Government is open for business because of our peculiar location as a nexus to different parts of Nigeria. This is why the companies are coming here. The influx of businesses will provide avenues for increased activity, create more jobs and will drive development.”

     

  • We generated N1.3bn in September – Bayelsa Govt

    The Bayelsa Government has recorded N1.3 billion as Internally Generated Revenue (IGR) in September, the Deputy Governor, retired Rear Adm. John Jonah, said on Friday.

    Breaking the financial statement for September in Yenagoa, Jonah said the state had realised about N1.3 as IGR in August.

    The News Agency of Nigeria (NAN) recalls that Bayelsa had collected N868.58 million in the previous month.

    The deputy governor attributed the increase to tax reforms which hiked tax drive on oil firms operating in the state.

    He noted that the state Board of Internal Revenue was compelled to approach the courts to seal some companies that defaulted in paying their taxes.

    Jonah said that the development had also increased the cost of collecting the huge revenue to N88 million.

    On the revenue accrued to state from Federation Account for September, the deputy governor said Bayelsa had received N12.1 billion as against N9.94 billion in August.

    Jonah said total deductions in September amounted to N1.8 billion as against the N1.7 billion deducted in August, leaving the state with a net inflow of N8.28 billion.

    He said that the wage bill of the state for August salary captured in September’s statement stood at N3.7 billion for civil servants while N298 million was spent on the emoluments of political appointees.

     

    NAN

  • Lagos, Rivers emerge highest IGR earners in 2016 – NBS

    Lagos, Rivers emerge highest IGR earners in 2016 – NBS

    …As Ebonyi emerges the lowest earner

    The National Bureau of Statistics (NBS) has released the list of Internally Generated Revenue, IGR, at State level for January to December 2016.

    The statistics shows that Lagos State recorded the highest Internally Generated Revenue (IGR) figure of N302.42bn in Full Year 2016.

    Lagos with a population of above 20million, earned 81,097,954,616.12 from federal allocation, FAAC.

    The former capital of Nigeria was closely followed by Rivers State with N85.29bn.

    TheNewsGuru.com reports that Ebonyi generated the lowest IGR with N2.34bn.

    However, Anambra state is yet to report its Full Year 2016 Internally Generated Revenue figure.

    NBS said a total of N801.95bn was generated by 35 states that have reported their Full Year 2016 Internally Generated Revenue figure.

    The revenue was generated across the following types – PAYE, Direct Assessment, Road Taxes, Revenue from Ministries, Departments and Agencies and other taxes.

    Lagos, Abia, Kano, Benue, Bauchi, Osun and Akwa Ibom emerged top 7 earners of Self-Assessment tax across the country.

    See comprehensive list below:

  • FAAN opens 2017 IGR contract bids

    FAAN opens 2017 IGR contract bids

    The Federal Airports Authority of Nigeria (FAAN) has commenced the bidding process for the award of contracts under its 2017 Internally Generated Revenue (IGR) Budget.

    A statement signed by Herrienta Yakubu, FAAN Acting General Manager, Corporate Affairs, said that the process was advertised in newspapers as well as the Federal Tenders Journal on Feb. 20.

    The advertisement requested qualified organisations to express interest for the award of contracts in tax collection, audit assignment, medical equipment, goods and works.

    According to the statement, the process began on April 3 when tender documents were opened in line with the provisions of the Public Procurement Act 2007.

    Yakubu said the exercise was witnessed by a Technical Evaluation Committee and three independent observers to ensure transparency.

    The observers included officials of the Builders Association, Centre for Transparency Watch, Project Development Network as well as the Federal Ministry of Transport.

    “Successful bidders will be contacted after the evaluation process had been concluded,’’ Yakubu said. (NAN)

  • Kaduna Investment Summit: We generated over N18bn in 2016 – El-Rufai

    Governor Nasir El-Rufai of Kaduna State has said following the adoption and strict implementation of recommendations from the inaugural Kaduna Investment Summit, the state raked in over 18 billion naira internally generated revenue, IGR in 2016.

    The governor said this at the second Kaduna Economic and Investment Summit, holding today in the state.

    He added that the state had also major investments including the Olam $150m poultry and livestock feed project, while exploration work continued for gold, nickel and other minerals.

    “Our credentials as an investment destination are anchored on the human and natural resources in our state, as well as the policy and legal environment our government has created.

    “At the inaugural edition of Kaduna Investment Summit, we presented the state development plan, explained our new, transparent tax code and demonstrated how digital land registry we are developing is critical to supporting investments.

    “ In 2016, these efforts earned us over N18bn in IGR, the highest ever in the state.

    “As a sub-national actor, we established the link between our state development plan and the decision to prioritise agriculture and minerals as main investment sectors.

    “And we are glad that, major investments resulted from Kaduna Investment Summit 2016, especially the Olam $150m poultry and livestock feed project.

    “In mining, exploration work continues for gold, nickel and other minerals.

    “Kaduna Economic and Investment Summit 2.0 seeks to consolidate on the gains so far made.

    “We shall be presenting our new Ease of Doing Business Charter, reflecting the hard work our MDAs have put into simplifying the process of obtaining licenses and shortening the time it takes to get a business running in Kaduna State”, he said.

    The governor, who highlighted major achievements of his administration, also unveiled the plan of the government between 2017 and 2019.

    TheNewsGuru.com reports that the maiden edition of the summit was held last year from April 6-7, in Kaduna.