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Nairaland Forum / Mare23ayo's Profile / Mare23ayo's Posts
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Politics / Re: Ikpeazu Secures ₦27.4 Billion World Bank Funding For Aba Roads by mare23ayo(m): 1:24pm On Jun 01, 2020 |
when i saw this post I made up my mind to comment! i don't want to hear that money was not provided or gotten to build road from these people. question your governor if after this loan you can't see any tangible or constructed road after his tenure. Buhari promised Train we can see it |
Autos / Re: Gx470 For A Quick Grab by mare23ayo(m): 5:27am On Mar 26, 2020 |
what year? |
Autos / Re: CLEAN USED 2008 RAV4 5M LAST!!! by mare23ayo(m): 3:51pm On Mar 18, 2020 |
where are you located |
Autos / Re: 2012 Camry Sports. by mare23ayo(m): 5:32am On Feb 03, 2020 |
2.750? |
Autos / Re: 2005 Tokunbo Benz C230 by mare23ayo(m): 5:39pm On Dec 11, 2019 |
pls how much is the RX beside it. thanks |
Autos / Re: Registered RX 330@ Benin by mare23ayo(m): 1:06pm On Dec 10, 2019 |
How much? If u can take 2.4-2.8m rpl |
Car Talk / Re: What Is The Highest Speed You Have Ever Hit While Driving Or Riding? by mare23ayo(m): 7:48am On Nov 14, 2019 |
165 km Girne - leftkosa |
Jobs/Vacancies / Re: Nigerian Breweries Sales Executives Recruitment. by mare23ayo(m): 12:59am On Sep 24, 2019 |
teadrake: Bro pls I will appreciate it, if you can send the study pack to my mail. Mare23ayo@yahoo.com. thanks much.[/quote] |
Jobs/Vacancies / Re: Nigerian Breweries Sales Executives Recruitment. by mare23ayo(m): 12:57am On Sep 24, 2019 |
. |
Autos / Re: SOLD amry Sport Leather Interior In Ibadan 08088525399@2.5m by mare23ayo(m): 2:37pm On Sep 20, 2019 |
2.350m..., from Elewura challenge. |
Crime / Re: 6 Nigerians Arrested For Illegally Entering India Through Night Bus by mare23ayo(m): 11:03pm On Sep 15, 2019 |
You read on one post two died while on board for substance intake, another set of 6 caught trying to sneak into India illegally Sigh....., will you people just stop already!!! its infuriating We get it the country isnt good! If you gonna migrate do it legally and stop bringing shame to the whole Nigeria. 5 Likes 1 Share |
Autos / Re: SOLD OUT Honda Crosstour Tokunbo In Ibadan 08088525399@3m by mare23ayo(m): 7:55am On Aug 25, 2019 |
bigdeals:if u agree, 2.8m at Oluyole right now |
Politics / Re: Caption This Picture Of President Buhari And Osinbajo by mare23ayo(m): 3:54pm On Jun 30, 2019 |
limeta:must you be negative? |
Travel / Re: FG Procures Two High Speed Coaches For Lagos-Ibadan Railway Line by mare23ayo(m): 5:03am On Jun 15, 2019 |
welcome development |
Politics / Re: Captaiid Mohammed Yelwa Killed By Hoodlums In Port-harcourt, Rivers State. Photo by mare23ayo(m): 6:03am On Apr 18, 2019 |
OneCorner: You see the problem now, U pple don't learn, repeat the same mistake like ur fathers did n u will pay the price but then don't go crying to international community abt how they are killing ur people. 1 Like |
Crime / Re: EFCC Arrests Eight For Selling Train Tickets For N15,000 In Abuja, Kaduna by mare23ayo(m): 4:34pm On Apr 09, 2019 |
bkool7:Pure truth! Had to login after a year to rpl this! we are not ready Nigerian |
Crime / Re: EFCC Arrests Eight For Selling Train Tickets For N15,000 In Abuja, Kaduna by mare23ayo(m): 4:33pm On Apr 09, 2019 |
[quote author=bkool7 post=77373085]Nigerians
We make life difficult for ourselves and turn around to blame govt
Pure truth!
Had to login after A year to rpl this! |
Autos / Re: 9units Of 2007 To 2010 Model Toyota Camry Xle Fully Loaded Toks by mare23ayo(m): 1:14am On Jan 27, 2019 |
anyone for 2.5m? |
Politics / #whereisthebalance by mare23ayo(m): 2:13pm On Jan 09, 2019 |
I will start by asking a question and then proceed to answer the question. Q: What are the revenue collection agencies of Nigeria? A: Nigeria has many Revenue Collection Agencies, but the major ones are: FIRS, NCS, DPR, Others (NPA, NIMASSA, JAMB etc).#WhereIsTheBalance? FIRS - Collects the following taxes on behalf of the Federal Republic of Nigeria. - Company Income Tax (CIT) - Petroleum Profit Tax (PPT) - VAT - Personal Income Tax - WHT - Education Tax - Stamp Duties - Capital Gains Tax - NITDF Levy Nigerian Customs Services - Custom and Excise Duties. Department of Petroleum Resources (via the NNPC) - Royalties on Oil Producing fields - Rent accruing from awarded concession - Gas flaring penalties. Others: - NPA - NIMASA - JAMB - Stolen Asset Recovery's - Dividend - etc #WhereIsTheBalance? Q: Where is the revenue collected by these agencies paid into? A: They are paid into the Federation Account from where a committee known as FAAC meets monthly to divide it among the Federating units in accordance to the revenue sharing formula. #WhereIsTheBalance? Q: What is the sharing formula used by FAAC? A: The sharing formula is - FG: 52.68% - States: 26.72% - Local Govt: 20.60% - There is an additional 13% derivation paid to oil producing states from oil proceeds based on the derivation principle. #WhereIsTheBalance? Q: Does it mean that all revenue are shared in accordance to that formula? A: No. The VAT collected by FIRS and paid into the Federation Account is shared with a different formula. - FG: 15% - States: 50% - LG: 35% #WhereIsTheBalance? Q: How much did d Federal Republic of Nigeria earn in 2018? A: We don’t have the full figures, but from public records, we can estimate FIRS – N5.3 Trillion NCS - N1.2 Trillion (Prorate from claim of N800B collected as at Aug) DPR - N7 Trillion Others - N500B #WhereIsTheBalance? Q: What is the estimated FG share of this amount? A: First, let’s back out VAT. We know that out of VAT of N1 Trillion, the FG collects 15% which is = N150 Billion. 2ndly, we need to back out the 13% derivation from oil proceeds as well as other deductions. Using the basic rule of the thumb, from an estimated revenue of N14Trillion, we can estimate that revenue available to the FG can't be higher than N6.5Trillion. Even this is generous just reflecting on 2018 budget performance figures. Breakdown Of The 2019 FGN Budget ProposalThe Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects. #WhereIsTheBalance? Q: And the N9 Trillion Budget? A: The N9 Trillion budget is the budget of d Federal Govt of Nigeria and not the Federal Republic of Nigeria. This means that the FG can only budget on its portion of federally collected revenue & not total collect-able revenue. Since we estimate that the maximum revenue available to the FG would be N6.5 Trillion and the FG intends to spend N9 Trillion, what this means is that the FG will have to spend more than it earns and borrow the difference. This is what we call budget deficit.#WhereIsTheBalance? Q: So where is the balance? A: The balance is with your State Govt and Local Govt. Please engage them. Ask them questions. Challenge them to show you what they're doing with the amt of money they get from FAAC & also from IGR (Internally generated revenue). I hope with these few points of mine, I've been able to convince and not confuse u abt #WhereIsTheBalance Pls feel free to bookmark this thread & share where this misinformation is been peddled. In the event that one "olorigbeske" shd ask this question again, show em this. Author: Yinka Ogunnubi.[b]I will start by asking a question and then proceed to answer the question. Q: What are the revenue collection agencies of Nigeria? A: Nigeria has many Revenue Collection Agencies, but the major ones are: FIRS, NCS, DPR, Others (NPA, NIMASSA, JAMB etc).#WhereIsTheBalance? FIRS - Collects the following taxes on behalf of the Federal Republic of Nigeria. - Company Income Tax (CIT) - Petroleum Profit Tax (PPT) - VAT - Personal Income Tax - WHT - Education Tax - Stamp Duties - Capital Gains Tax - NITDF Levy Nigerian Customs Services - Custom and Excise Duties. Department of Petroleum Resources (via the NNPC) - Royalties on Oil Producing fields - Rent accruing from awarded concession - Gas flaring penalties. Others: - NPA - NIMASA - JAMB - Stolen Asset Recovery's - Dividend - etc #WhereIsTheBalance? Q: Where is the revenue collected by these agencies paid into? A: They are paid into the Federation Account from where a committee known as FAAC meets monthly to divide it among the Federating units in accordance to the revenue sharing formula. #WhereIsTheBalance? Q: What is the sharing formula used by FAAC? A: The sharing formula is - FG: 52.68% - States: 26.72% - Local Govt: 20.60% - There is an additional 13% derivation paid to oil producing states from oil proceeds based on the derivation principle. #WhereIsTheBalance? Q: Does it mean that all revenue are shared in accordance to that formula? A: No. The VAT collected by FIRS and paid into the Federation Account is shared with a different formula. - FG: 15% - States: 50% - LG: 35% #WhereIsTheBalance? Q: How much did d Federal Republic of Nigeria earn in 2018? A: We don’t have the full figures, but from public records, we can estimate FIRS – N5.3 Trillion NCS - N1.2 Trillion (Prorate from claim of N800B collected as at Aug) DPR - N7 Trillion Others - N500B #WhereIsTheBalance? Q: What is the estimated FG share of this amount? A: First, let’s back out VAT. We know that out of VAT of N1 Trillion, the FG collects 15% which is = N150 Billion. 2ndly, we need to back out the 13% derivation from oil proceeds as well as other deductions. Using the basic rule of the thumb, from an estimated revenue of N14Trillion, we can estimate that revenue available to the FG can't be higher than N6.5Trillion. Even this is generous just reflecting on 2018 budget performance figures. Breakdown Of The 2019 FGN Budget ProposalThe Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects. #WhereIsTheBalance? Q: And the N9 Trillion Budget? A: The N9 Trillion budget is the budget of d Federal Govt of Nigeria and not the Federal Republic of Nigeria. This means that the FG can only budget on its portion of federally collected revenue & not total collect-able revenue. Since we estimate that the maximum revenue available to the FG would be N6.5 Trillion and the FG intends to spend N9 Trillion, what this means is that the FG will have to spend more than it earns and borrow the difference. This is what we call budget deficit.#WhereIsTheBalance? Q: So where is the balance? A: The balance is with your State Govt and Local Govt. Please engage them. Ask them questions. Challenge them to show you what they're doing with the amt of money they get from FAAC & also from IGR (Internally generated revenue). I hope with these few points of mine, I've been able to convince and not confuse u abt #WhereIsTheBalance Pls feel free to bookmark this thread & share where this misinformation is been peddled. In the event that one "olorigbeske" shd ask this question again, show em this. Author: Yinka Ogunnubi.[/b]I will start by asking a question and then proceed to answer the question. Q: What are the revenue collection agencies of Nigeria? A: Nigeria has many Revenue Collection Agencies, but the major ones are: FIRS, NCS, DPR, Others (NPA, NIMASSA, JAMB etc).#WhereIsTheBalance? FIRS - Collects the following taxes on behalf of the Federal Republic of Nigeria. - Company Income Tax (CIT) - Petroleum Profit Tax (PPT) - VAT - Personal Income Tax - WHT - Education Tax - Stamp Duties - Capital Gains Tax - NITDF Levy Nigerian Customs Services - Custom and Excise Duties. Department of Petroleum Resources (via the NNPC) - Royalties on Oil Producing fields - Rent accruing from awarded concession - Gas flaring penalties. Others: - NPA - NIMASA - JAMB - Stolen Asset Recovery's - Dividend - etc #WhereIsTheBalance? Q: Where is the revenue collected by these agencies paid into? A: They are paid into the Federation Account from where a committee known as FAAC meets monthly to divide it among the Federating units in accordance to the revenue sharing formula. #WhereIsTheBalance? Q: What is the sharing formula used by FAAC? A: The sharing formula is - FG: 52.68% - States: 26.72% - Local Govt: 20.60% - There is an additional 13% derivation paid to oil producing states from oil proceeds based on the derivation principle. #WhereIsTheBalance? Q: Does it mean that all revenue are shared in accordance to that formula? A: No. The VAT collected by FIRS and paid into the Federation Account is shared with a different formula. - FG: 15% - States: 50% - LG: 35% #WhereIsTheBalance? Q: How much did d Federal Republic of Nigeria earn in 2018? A: We don’t have the full figures, but from public records, we can estimate FIRS – N5.3 Trillion NCS - N1.2 Trillion (Prorate from claim of N800B collected as at Aug) DPR - N7 Trillion Others - N500B #WhereIsTheBalance? Q: What is the estimated FG share of this amount? A: First, let’s back out VAT. We know that out of VAT of N1 Trillion, the FG collects 15% which is = N150 Billion. 2ndly, we need to back out the 13% derivation from oil proceeds as well as other deductions. Using the basic rule of the thumb, from an estimated revenue of N14Trillion, we can estimate that revenue available to the FG can't be higher than N6.5Trillion. Even this is generous just reflecting on 2018 budget performance figures. Breakdown Of The 2019 FGN Budget ProposalThe Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects. #WhereIsTheBalance? Q: And the N9 Trillion Budget? A: The N9 Trillion budget is the budget of d Federal Govt of Nigeria and not the Federal Republic of Nigeria. This means that the FG can only budget on its portion of federally collected revenue & not total collect-able revenue. Since we estimate that the maximum revenue available to the FG would be N6.5 Trillion and the FG intends to spend N9 Trillion, what this means is that the FG will have to spend more than it earns and borrow the difference. This is what we call budget deficit.#WhereIsTheBalance? Q: So where is the balance? A: The balance is with your State Govt and Local Govt. Please engage them. Ask them questions. Challenge them to show you what they're doing with the amt of money they get from FAAC & also from IGR (Internally generated revenue). I hope with these few points of mine, I've been able to convince and not confuse u abt #WhereIsTheBalance Pls feel free to bookmark this thread & share where this misinformation is been peddled. In the event that one "olorigbeske" shd ask this question again, show em this. Author: Yinka Ogunnubi. |
Travel / Re: Beautiful Photos From Ikuru Town Beach Carnival by mare23ayo(m): 9:03am On Jan 07, 2019 |
GistFullGround:spot on bro! you are the kind of bright minds we need in Nigeria. 1 Like 1 Share |
Crime / Re: EFCC Raids Automobile Company They Claim Is Owned By Yahoo Boys, Seize 29 cars by mare23ayo(m): 8:56am On Nov 28, 2018 |
myners007:I read "what about Ganduje" every time here..., so let me take time to educate you that Ganduje is enjoying immunity as a serving governor, after his tenure then and only then can they probe him. |
Autos / Re: Honda Civic 2006 Model by mare23ayo(m): 10:11pm On Oct 21, 2018 |
when toks is 1.5m�when toks is 1.5m�when toks is 1.5m� |
Science/Technology / Re: China To Launch An 'Artificial Moon' To Light Up City As Far As 50miles(Pics) by mare23ayo(m): 6:02am On Oct 18, 2018 |
it could be weaponized! to shine light from a long distance to brighten up a 50miles radius will require strong materials that can transform heat energy |
Crime / Re: Yahoo Boy Arrested By EFCC In Ekiti – See Cars Recovered From Him by mare23ayo(m): 10:15am On Oct 10, 2018 |
seun, you really need to curb this ethnic bigotry on this platform! change is needed...! |
Celebrities / Re: Ifu Ennada Exposes Cee-C And Alex Beef After Acid Attack Threat by mare23ayo(m): 1:03am On Aug 08, 2018 |
They Wanted "Double wahala" they got it so they should deal with it |
Business / Re: BVN: Banks Engage Law Firm To Appeal Court Ruling by mare23ayo(m): 10:29am On Nov 07, 2017 |
Cloud007: I say this everytime, the are corporate thieves |
Politics / Re: Ifeanyi Ejiofor, Nnamdi Kanu's Lawyer Speaks To BBC World On Situation On Ground by mare23ayo(m): 6:37pm On Sep 16, 2017 |
NPComplete: I swear i too love your reply! cheers with a bottle of Heineken. Enjoy the Epl |
Romance / Re: I Am Leaving Behind My Love, For Greener Pastures Abroad. by mare23ayo(m): 12:06pm On Sep 05, 2017 |
Hmmmmm, I am in a similar situation 3 Likes 1 Share |
Autos / Re: Toyota Camry 2010 Tokunbo 2.9m by mare23ayo(m): 3:35am On Aug 18, 2017 |
swap deal with a camry 2005 |
Car Talk / Re: The First Indigenous MRAP Is Finally Here. by mare23ayo(m): 9:40am On Aug 17, 2017 |
tdayof: Thanks for replying that delusional slowpoke! apparently he knows nothing about such production. |
Celebrities / Re: Adebayo Faleti Is Dead by mare23ayo(m): 5:28pm On Jul 23, 2017 |
Hmmmmm, oro leye n gbo.... 3 Likes |
Romance / Re: Lady Visits A Guy At His Hostel, Crowd Of Guys Wait Outside To HAIL HIM (pics) by mare23ayo(m): 5:26pm On Jul 23, 2017 |
The bleeping was at its paramount state that guys could hear and had to salute the giver and receiver....., . Bleep they had, Ceremonial salute they received. Hmmmmm 5 Likes |
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