Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,176 members, 7,815,114 topics. Date: Thursday, 02 May 2024 at 07:30 AM

FIRS Breaks All-time Record, Generates N5.3trn In One Year - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FIRS Breaks All-time Record, Generates N5.3trn In One Year (18910 Views)

Nigeria Customs Service Generates ₦1.3trn In First Quarter 2024 / Nigeria’s Debt Hits N25.7trn, Rises By N3.3trn In One Year / FIRS Generates N5trn, Targets N5.3trn By Year-end (2) (3) (4)

(1) (2) (3) (4) (5) (Reply) (Go Down)

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Yankee101: 12:55am On Jan 08, 2019
And what is the real value is USD?

1 Like

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Nobody: 1:55am On Jan 08, 2019
johnny1980:


You are dumb. Taxes are paid in Naira. Shows you that the feat they even achieved is extremely impressive given the naira rate as at then to now is almost triple.
Dumbness is a result of blind arguement. Let us assume that NB reported a profit before tax of N5b in 2012, they would pay tax of 30%; that is equivalent to N1.5b. Fast forward to 2018. The same NB has increased the price of her products by about 220% as a result of high costs. Overheads for instances diesel costs, staff costs and others havr doubled, same applies to all imported and locally sourced materials. Hence, if NB declared a profit before tax of N10b in 2018, which going by the Naira devaluation is less than N5b if 2012, then it would be paying N3b tax. So my friend, a collection increase of N0.23b between 2012 and 2018 is no feat, rather a low output.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Nobody: 2:03am On Jan 08, 2019
Jiang:


You are still missing the point smart ass, the government is still paying same amount of salaries since you hero dey power, so I see no reason you want the government to break the record in $$ & then convert it to Naira just to satisfy ur ego.

Person way dey earn 100k in 2012 still dey earn 100k in 2019

New Minimum wage hasn't being implemented yet, SO YES WHAT FIRS ACHIEVED IS VERY COMMENDABLE
PAYE is not business of FIRS. So much for low IQ in Nigeria. Read guys .. do not be another Buhari

1 Like

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Calers: 3:08am On Jan 08, 2019
I pity Atiku
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by jinxet2000: 3:43am On Jan 08, 2019
Do we have all these monies and yet Nigeria still borrows?
At the rate I am seeing figures, Nigeria supposed to be lending money to America and China.
But why are we still borrowing with all these trillions? Does it mean it's not real ?
Just sipping my water from an empty cup.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Slazim: 4:06am On Jan 08, 2019
The whole money was generated in the south cos the average man in the north doesn't believe in paying tax
or for utilities but sadly it would all be shared states of the federation that contributed little or nothing.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sman37(m): 4:18am On Jan 08, 2019
yns4real:



https://www.thecable.ng/breaking-firs-breaks-all-time-record-generates-n5-3trn-in-2018
So the Govt can't use a (1t) trillion Naira to fixed Poor education to meet Quality education (world class standard) but they are using for their own salaries and luxurious allowance!
This regime has frightened me and Agile never be my 2nd choice!
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by njimezz(m): 4:37am On Jan 08, 2019
When the money is no where to be found, just calling figures even u that is talking rubbish, tell me one thing this government has done to better people's lives if not deceit.
madridguy:
News like this make some people develop malaria.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Nobody: 4:46am On Jan 08, 2019
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 .

in fact to beat Jonathan's 2012 record the Buhari govt FIRs will have to declare 14 trillion Naira as collection figures because in todays Naira Jonathans 5.07 trillion Naira is equivalent to 13.8 trillion Naira in Buhari worthless Naira

Eromosele1986, olatade, madridguy, orientatio101, don89, uba1991, Gaby, arrestdarrester, the enchanter, itiswellandwell, shachris02, sman37, hargbolahan01, jinxet2000, thunder74, zico5, aonag, simpleplan34, topcruise, jeezuzpick, blue3k, maxymilliano, healthyguy, ofiko123, chocolate lady, afobaba33, Jiang, precisionFx, bimpe29, czarugo007, youngzedd, njimezz

I tagged you because your posts seem like you either missed the quoted text, or you did not understand it clearly.
Apparently when this government wants to quote bloated figures for accolades, it does it in naira. Worthless, useless naira.
Compare the value of your naira today to any time before this administration assumed duty then you will realise how slowly, but surely Nigeria has been on financial retrogression.

For those that asked, that is why we keep borrowing and cannot meet up repayment with tax revenue because even this paltry sum is divided among the 3 tiers of government (federal, state and local). It is also why we have problems funding the Federal budget.

Jiang, you agree there has been no increase in civil servants' salary and they are paid in naira. Do you also realise their naira salary today will get them far less than it could before this government took over? Amitez tried to break it down for you and Johnny1980 why this FIRS figure looks impressive. This news is NOT AN ACHIEVEMENT.

The dollar comparison is important because we get a rough idea how capable we are to service our debt to all these monies we have been borrowing. We borrowed in dollar and have to pay back in dollar so you should already know our debt profile as a country does not look so good.

4 Likes 1 Share

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by bigmo1(m): 4:51am On Jan 08, 2019
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 .

in fact to beat Jonathan's 2012 record the Buhari govt FIRs will have to declare 14 trillion Naira as collection figures because in todays Naira Jonathans 5.07 trillion Naira is equivalent to 13.8 trillion Naira in Buhari worthless Naira
Food for thought for me

2 Likes

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by artofseduction: 7:45am On Jan 08, 2019
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 .

in fact to beat Jonathan's 2012 record the Buhari govt FIRs will have to declare 14 trillion Naira as collection figures because in todays Naira Jonathans 5.07 trillion Naira is equivalent to 13.8 trillion Naira in Buhari worthless Naira


One Origin bitters for you.

2 Likes

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by WaffenSS(m): 7:47am On Jan 08, 2019
madridguy:
News like this make some people develop malaria.

HIV sef
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by WaffenSS(m): 7:48am On Jan 08, 2019
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.

You're the second person from the left...we recognize your smell
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by KwoiZabo(m): 7:51am On Jan 08, 2019
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.
convert to dollars and you will see that it is much less.

1 Like

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Nobody: 8:47am On Jan 08, 2019
greyham:


Eromosele1986, olatade, madridguy, orientatio101, don89, uba1991, Gaby, arrestdarrester, the enchanter, itiswellandwell, shachris02, sman37, hargbolahan01, jinxet2000, thunder74, zico5, aonag, simpleplan34, topcruise, jeezuzpick, blue3k, maxymilliano, healthyguy, ofiko123, chocolate lady, afobaba33, Jiang, precisionFx, bimpe29, czarugo007, youngzedd, njimezz

I tagged you because your posts seem like you either missed the quoted text, or you did not understand it clearly.
Apparently when this government wants to quote bloated figures for accolades, it does it in naira. Worthless, useless naira.
Compare the value of your naira today to any time before this administration assumed duty then you will realise how slowly, but surely Nigeria has been on financial retrogression.

For those that asked, that is why we keep borrowing and cannot meet up repayment with tax revenue because even this paltry sum is divided among the 3 tiers of government (federal, state and local). It is also why we have problems funding the Federal budget.

Jiang, you agree there has been no increase in civil servants' salary and they are paid in naira. Do you also realise their naira salary today will get them far less than it could before this government took over? Amitez tried to break it down for you and Johnny1980 why this FIRS figure looks impressive. This news is NOT AN ACHIEVEMENT.

The dollar comparison is important because we get a rough idea how capable we are to service our debt to all these monies we have been borrowing. We borrowed in dollar and have to pay back in dollar so you should already know our debt profile as a country does not look so good.

oh...I didn't look at from that angle, Thanks for the correction

1 Like

Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by arrestdarrester: 9:06am On Jan 08, 2019
rexwalters:
Taking care of Lazy Scumbags like Yourself.

I'm not bothered about your insults. I did a little check on your posts on Nairaland. You've been here since October 2018 and only 3 things run through your posts. The first is sycophancy. The second is hurling insults when outwitted. The third is my main concern and I'll be watching that closely.

I wish you good sense in this 2019.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by frowland(m): 9:17am On Jan 08, 2019
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 .

in fact to beat Jonathan's 2012 record the Buhari govt FIRs will have to declare 14 trillion Naira as collection figures because in todays Naira Jonathans 5.07 trillion Naira is equivalent to 13.8 trillion Naira in Buhari worthless Naira

Generated revenue as of 2015 was 3.7 Trillion
Market exchange rate as of then was 280/$1.
Meaning GEJs revenue as of 2015 was 13billion USD and not 38billion usd as you stated above. Thanks.
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by GetCofOProperty: 11:21am On Jan 08, 2019
frowland:


Generated revenue as of 2015 was 3.7 Trillion
Market exchange rate as of then was 280/$1.
Meaning GEJs revenue as of 2015 was 13billion USD and not 38billion usd as you stated above. Thanks.

[b]Have they not been generating such ahuge sum before now? Only that this time around, they couldn't siphon much because the public servants/politicians were on their neck to have more funds to fund their 2019 election? cool

Do You Desire A Very Good Property (Landed property or to buy a house.apartment) for acquisition or as a form of Investment That Guarantee High Return... Check our signature below on how to get on PROMO affordable titled lands & properties in good location with Rest of mind. There are good properties in choice locations that boast of a huge return on investment.

Don't miss the current promos Visit our Ikeja Office (Off Medical Road) or Island Office (Awoyaya Ajah). Call/WhatsApp +234(0)8027390046, 08034113771. Check our signature here below And Click the WhatsApp link to reach out to us. Or if you want to know how you can be a part of the business part of Real Estate/Property Business... Join this link together erasing every space and click to chat us ht tp s: / / bit. ly/2ASCSgC
[/b]
[img]https://media1./images/c5cbd05c55a91d19769f57df261f326e/tenor.gif[/img]
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by GetCofOProperty: 11:24am On Jan 08, 2019
frowland:

Generated revenue as of 2015 was 3.7 Trillion
Market exchange rate as of then was 280/$1.
Meaning GEJs revenue as of 2015 was 13billion USD and not 38billion usd as you stated above. Thanks.

[b]Have they not been generating such ahuge sum before now? Only that this time around, they couldn't siphon much because the public servants/politicians were on their neck to have more funds to fund their 2019 election? cool

Do You Desire A Very Good Property (Landed property or to buy a house.apartment) for acquisition or as a form of Investment That Guarantee High Return... Check our signature below on how to get on PROMO affordable titled lands & properties in good location with Rest of mind. There are good properties in choice locations that boast of a huge return on investment.

Don't miss the current promos Visit our Ikeja Office (Off Medical Road) or Island Office (Awoyaya Ajah). Call/WhatsApp +234(0)8027390046, 08034113771. Check our signature here below And Click the WhatsApp link to reach out to us. Or if you want to know how you can be a part of the business part of Real Estate/Property Business... Join this link together erasing every space and click to chat us ht tp s: / / bit. ly/2ASCSgC
[/b]

[img]https://media1./images/c5cbd05c55a91d19769f57df261f326e/tenor.gif[/img]
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sojicool(m): 11:21pm On Jan 08, 2019
iamclime:

Can I have the full copy of this report? I need it for research purposes. Thanks
Here is how the Yorubaland generates 80% of the Federal Inland Revenue taxes:
All companies registered in Nigeria paid a portion of their profits as:
Companies Income Tax (30%);
Education Tax (2%);
Information Technology Tax (1%);
Pension Contribution (18%);
National Housing Fund Contribution (2.5%); Industrial Training Fund Contribution (1%);
Employee Compensation Scheme (1%).
According to the Corporate Affairs Commission (CAC), 85 percent of all companies registered in Nigeria are located within the Yorubaland.
Consequently, the Yoruba region of Nigeria is responsible for 85 percent of the Companies Income Tax, Education Tax, Information Technology Tax, Pension Contribution, National Housing Fund Contribution, Industrial Training Fund Contribution and Employee Compensation Scheme
a. Companies Income Tax: Yorubaland is responsible for 85% of companies income tax paid to the Federal Government. But Yorubaland economy is not sustainable because the profit paid goes to finance economic growth and development in the North.
b. Education Tax: 2% of the profit of companies registered in Nigeria is paid as Education Tax. Since 85 percent of all registered companies in Nigeria are located in Yorubaland.
Yorubaland is therefore responsible for the payment of 85% of Education Tax collected by the Federal Government.
This revenue is enough to fund free and qualitative education for all Yoruba citizens and residents, but the money goes to the North to fund Hausa/Fulani Islamic education.
c. Information Technology Tax: is payable by specified companies with turnover of N100 million and above.
The companies include GSM service providers, and telecommunications companies, cyber companies and internet providers, pension managers and pension related companies, banks and other financial institutions, and insurance companies.
It is 1% of the profit of the companies. Since 85 percent of all registered companies are in Yorubaland according to the Corporate Affairs Commission (CAC), again, it is the Yoruba region that is responsible for 85% of Information Technology Tax in Nigeria.
But internet connectivity is very poor across Yorubaland and no free Wifi because the money paid by the Yoruba to improve its telecommunications goes to fund growth in the North.
d. Pension Contribution: all employers in the public sector and private employers that have 15 or more employees are required, under the Pension Reform Act 2014, to participate in a contributory pension scheme in favour of their employees.
18% of monthly emoluments is paid by employers as a pension contribution.
Again, 85% of the pension contribution is paid by the Yoruba region into the Federal Government coffer.
Retired Yoruba citizens cannot take their pension because their pension contributions fund growth and development in the North.
e. Industrial Training Fund Contribution: is applicable to employers with a minimum of 5 employees.
Employers pay 1% of the annual payroll cost to the industrial training fund contribution.
Again, 85 percent of the employers doing so are Yoruba. The Yoruba therefore contributes 85 percent of the industrial training fund contributions.
But Yoruba youth has no opportunities for industrial training programs because the money paid by the Yoruba goes to fund economic growth and development in the North.
f. National Housing Fund Contribution: is applicable to Nigerians employees earning a minimum of N3,000 per annum.
2.5 percent of basic salary is deducted and remitted to the Federal Mortgage Bank of Nigeria.
Again, 85 percent of the National Housing Fund Contribution is paid by the Yoruba region into the Federal Mortgage Bank of Nigeria, but most Yoruba people are sleeping rough or under the bridges because their money is building homes for the Hausa/Fulani.
g. Employee Compensation Scheme: is a levy on employees for any death, injury, disease or disability arising from or in the course of employment.
1% of employee total monthly payroll is paid into the Nigeria
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sojicool(m): 11:25pm On Jan 08, 2019
1% of employee total monthly payroll is paid into the Nigeria Social Insurance Trust Fund (NSITF).
The Yoruba contributes 85% of the funding of NSITF, but the fund benefits only the Hausa/Fulani and not the Yoruba workers who have suffered death, trauma, disease or disability arising from employment.
h. Petroleum Profit Tax: is levied on the income of companies engaged in upstream petroleum operation.
This is passed down to vehicle owners in Nigeria.
According to the Nigeria Bureau of Statistics, more than 65 percent of all registered vehicles in Nigeria are within Yorubaland.
Yorubaland is therefore responsible for the 65 percent of the Petroleum Profit Tax.
Once more, this does not benefit the Yoruba, but the Hausa/Fulani.
i. Capital Gains Tax: is applied on capital gains accruing to any person (company or individual) making a chargeable disposal of assets.
The tax rate is 10%, which is chargeable on assets, including options, debts and incorporeal property generally, any currency other than Nigeria currency, whatever form of property created by the person disposing it, goodwill, copyright, buildings, chattel etc.
The Yoruba region is responsible for 95 percent of the capital gains tax to the Federal Government.
Again, the beneficiary is the Hausa/Fulani.
j. Withholding Tax: is an advance payment of income tax deductible at source on specified transactions.
The tax applied on dividend, interest, rent, royalties, hire equipment, motor vehicles, plants and machinery, commission, consultancy, technical and management fees, legal fees, audit fees, and other professional fees, building and construction and connected activities, all types of contracts and agency arrangements.
The Yoruba is responsible for paying 90 percent of the Withholding Tax in Nigeria.
All the money goes to the Federal Government, benefiting the Hausa/Fulani.
k. Value Added Tax: VAT is chargeable on the supply of taxable goods and services except items specifically stated as exempt or zero-rated.
Standard rate is 5%.
Lagos State alone contributes more than 60% of VAT payment to the Federal Government.
The other Yoruba states, including Ogun, Osun, Oyo, Ondo, Ekiti, parts of Kwara, Kogi, Akoko-Edo and Itsekiri contribute 15% of the VAT.
The Yoruba alone contributes 75% of the VAT in Nigeria.
The money does not benefit the Yoruba, but the Hausa/Fulani.
l. Stamp Duty: is a tax on documents evidencing transactions between individual.
All official documents relating to an act to be performed in Nigeria must be stamped.
Unstamped documents are generally not admissible as evidence in civil proceedings.
90 percent of Stamp Duty paid in Nigeria comes through Yorubaland.
m. Luxury Tax: special levies have been introduced on luxury items since 2015.
The Yoruba people are yielding 60% of the tax on luxury items.
Yoruba region of Nigeria is responsible for 85 percent of Federal Inland Revenue tax collected on behalf of the Federal Government.
Only 12% of the Federal Inland Revenue Service earnings comes from the entire North, however, in terms of revenue sharing, the three regions from the North combined together, get the lion’s share from the FIRS earning.
_________________________________________
4. The Nigeria Ports Authority (NPA), collects fees paid by the concessionaire handling terminal operations in the ports, shipping and harbour dues and rent from its lands, among others.
Each year, the NPA generates on the average, N10 trillion from Apapa Wharf, Tin Can Port, Delta Ports, Calabar Ports, Rivers Ports and Onne Port.
According to the Nigerian Bureau of Statistic, 90% of the NPA revenue comes from the Yoruba ports and waterways.
The ports in the South-South region, brings forth the balance of 10% revenue of the Nigeria Ports Authority.
There is no single contribution of the Nigeria Ports Authority 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
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sojicool(m): 11:27pm On Jan 08, 2019
_________________________________________
5. The Central Bank of Nigeria (CBN), earns interest (tax income), by keeping and trading the proceeds from NNPP oil revenue and Federal Inland Revenue Service incomes from taxes.
It also collects interests from investing foreign reserves, repatriation of unutilized WDAS, interests on WDAS Accounts held by Deposit Money Banks, Inward Money Transfer and WDAS Purchases.
Agreeing to the Nigerian Bureau of Statistic and Economic Initiatives, 60% of the CBN earnings comes from the Yorubaland because of the eight categories of receipts for the CBN out of the possible 15 sources of income come essentially from the Yorubaland:
a. Income from capital inflows that kept Nigeria foreign exchange in check
According to the Nigeria Investment Promotion Commission (NIPC), 90% of foreign investors established their investments in Yorubaland.
b. Interest on WDAS Accounts held by Deposit Money Banks
CBN reports show that 75% of bank branches in Nigeria are located within Yorubaland.
c. Inward Money Transfer
According to the CBN records, 85% of money transfer from abroad comes through Yorubaland.
d. Value Added Tax
CBN reports show that Lagos State alone accounts for 60% of the VAT payment in Nigeria. The entire Yorubaland is responsible for the payment of 85% of the VAT collected in Nigeria.
e. FIRS income from Tax
Yoruba region is responsible for 85 percent of the Companies Income Tax, Education Tax, Information Technology Tax, Pension Contribution, National Housing Fund Contribution, Industrial Training Fund Contribution and Employee Compensation Scheme.
f. Commission, Repatriation of unutilized WDAS, and WDAS Purchases, are mainly carried out in Yorubaland.
The remaining 40% earnings of the CBN comes from the South-South region mainly because of the region’s proceeds of crude petroleum production and sales from:
a. Direct sales (NNPC)
b. Petroleum Profits Tax (Oil Companies)
c. Royalties
d. Penalty from Gas Flaring
There is no meaningful contribution of the Central Bank of Nigeria 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 CBN earnings.
_________________________________________
6. The Nigeria Maritime Administration and Safety Agency (NIMASA), collects three percent from all vessels coming to do business in the nation’s territorial waters.
Annually, NIMASA generates on the average, N100 billion from Apapa Wharf, Tin Can Port, Delta Ports, Calabar Ports, Rivers Ports and Onne Port.
According to the Nigerian Bureau of Statistic, 95% of NIMASA revenue comes from the Yoruba ports.
The ports in the South-South region, brings forth the balance of 5% revenue of the Nigeria Maritime Administration and Safety Agency.
There is no single contribution of the Nigeria Maritime Administration and Safety Agency 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 NIMASA’s earnings.
________________________________
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sojicool(m): 11:28pm On Jan 08, 2019
____________________________________
7. The Nigeria Liquefied Natural Gas (NLNG), pays dividends and revenue on sales of feed gas.
Each year, the NLNG pays on the average N300 billion wholly from its Bonny Kingdom facilities in Rivers State.
Agreeing to the Nigerian Bureau of Statistic, 100% of the Nigeria Liquefied Natural Gas revenue comes from the South-South region.
There is no single contribution of the Nigeria Liquefied Natural Gas earnings from the:
South-West,
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 NLNG earning.
_________________________________________
Summary of the contributions of the Yoruba, Hausa/Fulani and the Igbo to the revenue of the Federal Government:
1. NNPC Earnings:
80% of NNPC's revenue comes from the South-South.
20% of NNPC revenue comes from Yorubaland.
There is no contribution from the Hausa/Fulani and the Igbo to the NNPC earnings.
_________________________________________
2. NCS Earnings:
90% of NCS revenue comes from Yorubaland.
5% of NCS' revenue comes from South-South.
5% of NCS' revenue comes Hausa/
Fulaniland.
_________________________________________
3. FIRS Earnings from taxes collected:
85% of Corporate Income Tax comes from Yorubaland.
85% of Education Tax comes from Yorubaland.
85% of Information Technology Tax comes from Yorubaland.
85% of Pension Contributions comes from Yorubaland.
85% of Industrial Training Fund Contributions comes from Yorubaland.
85% of National Housing Fund Contributions comes from Yorubaland.
85% of Employees Compensation Scheme comes from Yorubaland.
65% of Petroleum Profit Tax comes from Yorubaland.
95% of Capital Gains Tax comes from Yorubaland.
90% of Withholding Tax comes from Yorubaland.
75% of the Value Added Tax (VAT) comes from Yorubaland.
90% of Stamp Duty comes from Yorubaland.
60% of Luxury Tax comes from Yorubaland.
_________________________________________
4. NPA Earnings:
90% of the NPA revenue comes from the Yoruba ports and waterways.
10% of the NPA revenue comes from the ports in the South-South region.
There are no ports in Igboland and Hausa/Fulaniland.
_________________________________________
5. CBN Earnings:
60% of the CBN earnings comes from Yorubaland.
40% of the CBN earnings comes from the South-South region.
There is nothing coming from Igboland and Hausa/Fulaniland.
_________________________________________
6. NIMASA Earnings:
95% of NIMASA earnings comes from the ports in Yorubaland.
5% of NIMASA earnings comes from the ports in the South-South.
There are no ports in Igboland and Hausa/Fulaniland.
_________________________________________
7. NLNG Earnings:
100% of NLNG earnings comes from the South-South.
There is nothing from Yorubaland, Igboland and Hausa/Fulaniland.
_________________________________________
Solid Minerals:
There is revenue from Solid minerals, including Talc, Gypsum, Iron Ore, Lead/Zinc, Bentonite and Baryte, Gold, Bitumen, Coal, Rock Salt, Gemstones and Kaolin.
Only Gold, and Bitumen, both of which are set up mainly in Yorubaland have contributed essentially to the earning from Solid minerals. But these earnings are insignificant and I have not considered them in this lecture.
Also, I have not considered Personal Income Tax because it is not collected by the Federal Government.
Court fees and fines, licence fees and other revenues are too insignificant for this lecture.
_____________________________________
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by Sojicool(m): 11:29pm On Jan 08, 2019
________________________
From the foregoing:
The Yoruba nation and her people contribute 49% of Nigeria's income.
The South-South region and her people contribute 44% of Nigeria's income.
The Hausa/Fulaniland contributes 2.5% of Nigeria's income.
The Middle Belt region contributes 2% to Nigeria's income.
The Igboland contributes 1.5% to Nigeria's income.
The Kanuriland contributes 1% to Nigeria's income.
_________________________________________
Please take note that the South-South region has six major ethnic nationalities, including:
1. Edo
2. Uhrobo
3. Itsekiri
4. Ijaw
5. Ogoni
6. Efik-Ibibio
All these nationalities save Itsekiri, contribute 44% of Nigeria's income.
The Itsekiri contribution has been added as part of Yoruba contributions because they are Yoruba.
There are Igbo communities in Delta and Rivers States, and their contributions have also been factored into the Igbo contributions.
_________________________________________
In summary, the Hausa/Fulani people are the most corrupt of the ethnic groups in Nigeria. Through the machination of self-serving career politicians in England, the Fulani held political power in Nigeria between 1960 and 2010, and since 2015.
They replaced the regional system that allows each region to control its wealth and resources with a unitary system that takes resources from the Yoruba and the South-South to fund the economic growth and development in the North while Yorubaland remains poor and underdeveloped.
Young Yoruba must come together and join forces with the Young Yoruba for Freedom to take over Yoruba’s ports and waterways from the control of the Fulani beginning from 2018 and declare for Oduduwa Republic.
There is an urgent need for the Young Yoruba to form relationship with the white in America; the Russians; the Chinese and the Brazilians.
We are the generation we have been waiting for.
______
Re: FIRS Breaks All-time Record, Generates N5.3trn In One Year by abdulazeez1002(m): 7:08am On Jan 11, 2019
LamidiCownu:
As an osu ipod..my flat head is in pains
grin

1 Like

(1) (2) (3) (4) (5) (Reply)

Ekweremadu’s Constituents Reject His 2023 Retirement From Senate Plan / Shiites Protest In Abuja To Mark 5 Years Of #ZariaMassacre / Why Wike Wants Secondus, PDP NWC Sacked

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 104
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.