gaby:
This is indeed amazing and a sign that Nigeria is indeed salvageable not minding how long it will take.

One can imagine how much must have been actually realized bearing in mind the corner bettings for the staffs and bosses of the FIRS plus Tinubu's 1%.

We'll definitely get there some day.

With the amount generated by FIRS and NCS plus accruals from crude, would think out national budget should be tipping #12-15 trn mark.

SalamRushdie:
The Buhari takes inherits a full bottle of coke then flushed 70 percent of it into the toilet and add water then claim it's a record ... For the records the 5.07 trillion dollars recorded in 2012 was equivalent to 38 billion US dollars while the 5.3 trillion the useless deceptive Buhari govt is celebrating is equivalent to just 14 billion dollars so in the real sense the FIR revenue has intact reduced by about 60 percent ..lets face the fact Nigeria is only moving backwards under Buhari .

aonag:
but nigeria is borrowing to fund her budget. who are we deceiving in this country if its not ourselves?

SalamRushdie:


Bro learn to think and evaluate deep ..

The Buhari takes inherits a full bottle of coke then flushed 70 percent of it into the toilet and add water then claim it's a record ... For the records the 5.07 trillion dollars recorded in 2012 was equivalent to 38 billion US dollars while the 5.3 trillion the useless deceptive Buhari govt is celebrating is equivalent to just 14 billion dollars so in the real sense the FIR revenue has intact reduced by about 60 percent ..lets face the fact Nigeria is only moving backwards under Buhari .

budaatum:

Every nation borrows to fund its budget. You borrow to spend then pay it back wit tax revenue.

biafranation:
Yeah, I bet you over 4 trillion is from Biafraland!

brexit:
THERE IS NO MORE LEAKAGE FOR PDP POLITICIANS SO THEY WANT TO COME BACK WITH FAKE NEWS,THERE ARE OVER 10 PERSONS THAT CAN SPEAK LIKE YOU AND I IN NIGERIA,PMB FORGET RENO HE IS ONE OF SOCIAL MEDIA MAD MEN,NO VALUE ATTACHED TO HIS PERSON.

alsudan:
These people must see all Nigerians as Zombies.

Oya Zombies come and masturbate on the imaginary 5.3 trillion naira generated by FIRS in 2018.

SalamRushdie:
The Buhari govt inherits a full bottle of coke then flushed 70 percent of it into the toilet and add water then claim it's a record ... For the records the 5.07 trillion dollars recorded in 2012 was equivalent to 38 billion US dollars while the 5.3 trillion the useless deceptive Buhari govt is celebrating is equivalent to just 14 billion dollars so in the real sense the FIR revenue has infact reduced in value by about 60 percent ..lets face the fact Nigeria is only moving backwards under Buhari .

SalamRushdie:
The Buhari govt inherits a full bottle of coke then flushed 70 percent of it into the toilet and add water then claim it's a record ... For the records the 5.07 trillion naira recorded in 2012 under GEJ was equivalent to 38 billion US dollars while the 5.3 trillion naira the useless deceptive Buhari govt is celebrating is equivalent to just 14 billion dollars so in the real sense the FIR revenue has infact reduced in value by about 60 percent ..lets face the fact Nigeria is only moving backwards under Buhari .

SalamRushdie:
The Buhari govt inherits a full bottle of coke then flushed 70 percent of it into the toilet and add water then claim it's a record ... For the records the 5.07 trillion naira recorded in 2012 under GEJ was equivalent to 38 billion US dollars while the 5.3 trillion naira the useless deceptive Buhari govt is celebrating is equivalent to just 14 billion dollars so in the real sense the FIR revenue has infact reduced in value by about 60 percent ..lets face the fact Nigeria is only moving backwards under Buhari .

Sojicool:
U in Yorubaland: The Economic Backbone of Nigeria

Being a Lecture Delivered By
Adeyinka Grandson
President of the Young Yoruba for Freedom (YYF)
On the 30 December 2018
London, England
_________________________________________

The revenue of the Federal Government of Nigeria comes from the following seven major sources:

1. Nigeria National Petroleum Corporation (NNPC)

2. The Nigeria Customs Service (NCS)

3. The Federal Inland Revenue Service (FIRS). The taxes collected by FIRS include:

Corporate Income Tax
Education Tax
Information Technology Tax
Pension Contributions
Industrial Training Fund Contributions
National Housing Fund Contributions
Employees Compensation Scheme

Petroleum Profit Tax
Capital Gains Tax
Withholding Tax
Value Added Tax (VAT)
Stamp Duty
Luxury Tax

4. The Nigeria Ports Authority (NPA)

5. The Central Bank of Nigeria (CBN)

6. The Nigeria Maritime Administration and Safety Agency (NIMASA)

7. The Nigeria Liquefied Natural Gas (NLNG)

There are other minor sources of revenue for the Federal Government of Nigeria like Solid minerals, court fees and fines.
_________________________________________

1. Nigeria National Petroleum Corporation collects royalties, rents and penalties on oil products.

Annually, NNPC generates on the norm, about N3 trillion.

This information I'm giving is the fact: According to the NNPC records, Akwa-Ibom, Delta, Rivers, Bayelsa and Cross Rivers states produced 89% of all the crude oil in Nigeria.

Ondo and Edo states produced 10%.

Imo and Abia states produced less than 1% and Anambra state produced absolutely nothing.

This signifies that the South-South region contributes 80% of the NNPC earnings.

The Yoruba nation, including Ondo State plus Itsekiri, contributes the remaining 20% of the NNPC's earnings.

There is nothing significantly coming from the Igboland in terms of oil revenue.

There is no single contribution to the NNPC earnings from the:

Middle Belt's North-Central,
Hausa/Fulani's North-West
Kanuri's North-East.

But these three regions of the North, get the lion’s share from the NNPC earning.
_________________________________________

2. The Nigeria Customs Service (NCS), collects import and excise duties levied on cost, insurance and freight.

Yearly, the NCS generates on the average N2 trillion.

According to the Nigerian Bureau of Statistic with the agreement of the Nigeria Customs Service, the 11 Customs Command areas in Yorubaland generated 90% of the NCS revenue every year.

The Customs Commands across Yorubaland, include:

Apapa Command;
Tin-Can Command;
Lagos Airport Command;
Kirikiri Command;
Seme Command;
Tin-Can II Command;
Lagos Industrial Command;
Ogun Command;
Oyo/Osun Command;
Ondo/Ekiti Command;
Kwara/Kogi Command.

South-South region contributes the 5% of the NCS revenue.

There is no substantial contribution to the Nigeria Custom Service earnings from the:

South-East,
North-Central,
North-West
North-East.

But, in terms of revenue sharing, the three regions of the North combined together, get the lion’s share from the Nigeria Customs Service earning.
_________________________________________

3. The Federal Inland Revenue Service (FIRS), collects and administers taxes on behalf of the Federal Government.

Each year, the FIRS generates on the average, N8 trillion from:

Corporate Income Tax
Education Tax
Information Technology Tax
Pension Contributions
Industrial Training Fund Contributions
National Housing Fund Contributions
Employees Compensation Scheme

Petroleum Profit Tax
Capital Gains Tax
Withholding Tax
Value Added Tax (VAT)
Stamp Duty
Luxury Tax

According to the Nigerian Bureau of Statistic, 80% of the FIRS revenue comes from the Yorubaland.

The North, including the North-West, North-Central and North-East, contributes only 12% of the FIRS revenue.

The South-South (excluding the Itshekiri area), and the South-East, together, contribute the remaining 8%.

Here is how the Yorubaland generates 80% of t

aonag:

every nation borrows to fund budget... hear yourself.

SimplePlan34:
OK Dr Babatunde Fowler is working but the guy may be richer than otedola sef. Very stingy guy like Dat.