States in the country now rely less on federal allocations as latest statistics released by the Central Bank of Nigeria (CBN) have revealed significant increase in their Internally Generated Revenues (IGRs).


The CBN data for 2014 revealed that internally generated revenue provided 21.8 per cent of the total revenue of the 36 states and the Federal Capital Territory (FCT), compared with 15.3 per cent the previous year.

Analysis of the data showed that aggregate IGR grew by 37 per cent to N801 billion ($4.0 billion) from N586 billion in 2013.
Again, Lagos emerged as the leading state, achieving an IGR/total revenue ratio of 67 per cent while Ogun, Rivers and Anambra States recorded 40 per cent, 32 per cent and 31 per cent respectively.

Given that the oil price has been on the slide since mid-2014, analysts posit that states have no choice than to reduce their dependence on the oil-driven monthly distributions from the FAAC by bolstering their IGR.

The CBN data also revealed that Value Added Tax (VAT) receipts stood at N389 billion, representing 10.6 per cent of total revenue in 2014.

The Minister of Budget and National Planning, Udo Udoma, recently disclosed that ........

Read more@http://www.nairausd.com/2016/03/states-internally-generated-revenue.html?m=1

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Yet, some still think change is illusive.

ashjay001:
Yet, some still think change is illusive.

what has your chains, sorry change go to do with this?

Lagos ogun, rivers, anambra, where are the northern states, the land of agriculture and farming. its obvious they are still dreaming of oil money.

This news us 2014/2013 data na.

Double post.

The data is outdated. This is from 2013/2014 if I'm correct.

Fake and outdated news. What concerns minister of budget planning to 2014 data?

ahaz:
what has your chains, sorry change go to do with this?

Guess will av to try n break it down for ur eminence.

The states are being forced to look inwards, since no excess cash from d center.

The govts are being forced to invest in their states to shore up revenue. Untapped resources(cocoa, groundnuts, solid minerals, oil palm, rubber, cassava etc) will be encouraged, instead of govts absconding to holiday spots after receiving federal allocations.

The leaders without workable dreams would be thrown out by d next dispensation! Even PMB is not immune, let's just pray d senate can make d card readers legal n binding!

The senate is actually probing d budget instead of d usually exchange of ghana-must-go bags for an unscrutinised budget! The senate is actually going out to confirm work done n release reports, instead of d usual cover-up!

Chains are real for d corrupt! If things are being done d right way, how come d groundnut pyramids were allowed to disappear? Cocoa house is a shadow. D railways practically disappeared! Public schools are now a breeding ground for criminals. We were deteriorating instead of improving.

APC, though not perfect, is attempting a reset, and God willing, it'll work!

Nigeria’s GDP Projected To Hit $6.4trn By 2050

http://www.nairausd.com/?m=1

Wailing zombies will be sad today.

North is drawing South Back

Even Kano the Pride of North cannot compete with Ogun,Enugu, Abia or Delta talk more of Lagos, Anambra and Rivers... Smh

Pwayne2016:
North is drawing South Back

Even Kano the Pride of North cannot compete with Ogun,Enugu, Abia or Delta talk more of Lagos, Anambra and Rivers... Smh

North Why

Pwayne2016:
North is drawing South Back

Even Kano the Pride of North cannot compete with Ogun,Enugu, Abia or Delta talk more of Lagos, Anambra and Rivers... Smh

Really?

Naijacitizen:

Really?

Hmmmm

ifyan:

Hmmmm

Na question I dey ask oo

Naijacitizen:



Na question I dey ask oo

Na him make me hmmmmm

bonechamberlain:
Lagos ogun, rivers, anambra, where are the northern states, the land of agriculture and farming. its obvious they are still dreaming of oil money.

Buhari is busy looking for oil in lake Chad desert region.