₦airaland Forum

Nigeria’s revenue surged 49% in the first five months of the year, exceeding government projections as an overhaul of the tax system and new levies on industries including petroleum and mining boosted collections

https://x.com/business/status/2067678335635763552

God bless President Bola Tinubu
The Best President in the history of Nigeria
God bless Federal Republic of Nigeria

blamingthedevil:
Nigeria’s revenue surged 49% in the first five months of the year, exceeding government projections as an overhaul of the tax system and new levies on industries including petroleum and mining boosted collections

https://x.com/business/status/2067678335635763552

Another Statistics don done. Despite all these along with record-breaking loans, why has the federal government only released 5% of the budget appropriated for roads in 3 years. Where is the money?

Fantastic.

Mr Tinubu. Best Nigerian President / Head of State since independence (65 years!)

AMINDA:
Another Statistics don done. Despite all these along with record-breaking loans, why has the federal government only released 5% of the budget appropriated for roads in 3 years. Where is the money?

The "Hidden" Fund Releases (Off-Budget & Alternative Funding)The actual volume of funds deployed to Nigerian roads is higher because the Federal Government funds major corridors using special mechanisms that bypass regular OTP cash tracking:



The NNPCL Tax Credit Scheme: Under the Road Infrastructure Tax Credit Scheme, the Nigerian National Petroleum Company Limited (NNPCL) has funded trillions of Naira directly to contractors for critical federal highways. This capital bypasses the central treasury completely.



Sukuk Bonds: The Debt Management Office (DMO) routinely issues sovereign asset-backed Sukuk bonds specifically earmarked for major highways. These funds are disbursed directly to contractors through designated project accounts, rather than standard ministry cash allocations.Special Presidential Intervention Approvals: In late 2023, the administration bypassed normal budgetary slow-downs by approving immediate intervention palliatives worth ₦300 billion for emergency repairs across the 36 states and the FCT (₦100 billion for emergency works, ₦200 billion for inherited projects).

International Consortium Loans: Mass-scale flagship projects use external finance structures. For example, the Federal Ministry of Finance secured a $1.26 billion (~₦1.9+ trillion) underwritten package specifically for the Lagos-Calabar Coastal Highway Project via First Abu Dhabi Bank and corporate risk insurers

So why are they still borrowing recklessly?

They destroy the economy from 10 down to 1.

When it rises to 2 from 1, they start jubilating that they have grown the economy by 100%

Why didn’t you grow it from the 10 you met it to 20?

This government and propaganda

Flangelo12:
The "Hidden" Fund Releases (Off-Budget & Alternative Funding)The actual volume of funds deployed to Nigerian roads is higher because the Federal Government funds major corridors using special mechanisms that bypass regular OTP cash tracking:



The NNPCL Tax Credit Scheme: Under the Road Infrastructure Tax Credit Scheme, the Nigerian National Petroleum Company Limited (NNPCL) has funded trillions of Naira directly to contractors for critical federal highways. This capital bypasses the central treasury completely.



Sukuk Bonds: The Debt Management Office (DMO) routinely issues sovereign asset-backed Sukuk bonds specifically earmarked for major highways. These funds are disbursed directly to contractors through designated project accounts, rather than standard ministry cash allocations.Special Presidential Intervention Approvals: In late 2023, the administration bypassed normal budgetary slow-downs by approving immediate intervention palliatives worth ₦300 billion for emergency repairs across the 36 states and the FCT (₦100 billion for emergency works, ₦200 billion for inherited projects).

International Consortium Loans: Mass-scale flagship projects use external finance structures. For example, the Federal Ministry of Finance secured a $1.26 billion (~₦1.9+ trillion) underwritten package specifically for the Lagos-Calabar Coastal Highway Project via First Abu Dhabi Bank and corporate risk insurers

Types so many jargon, ends up saying absolutely nothing. This is the type of zombism that qualifies a person to be an APC member. Defending the indefensible.

Borrowed REVENUE!
😂😂😂😂😂😂😂

Abeg return am o. Before IMF disgrace una.

LIARS!

This news go vex obidient

Atleast you now know your monwy isnt being looted like the fool peter obi claimed.

AMINDA:
Another Statistics don done. Despite all these along with record-breaking loans, why has the federal government only released 5% of the budget appropriated for roads in 3 years. Where is the money?

SuperEagles:
Atleast you now know your monwy isnt being looted like the fool peter obi claimed.

you really dont need to type such nonsense to defend a clueless first class accountant.

Obidient won't eat breakfast with this good news. What gives them appetite is bad negative news, they have lost appetite for more than a week now since there has not been any breaking news of abduction.

Those who hate their country but want to rule it will forever be a failure in their attempts. The more they contest the more the will 'lule'

tesseract:
Types so many jargon, ends up saying absolutely nothing. This is the type of zombism that qualifies a person to be an APC member. Defending the indefensible.

Copied from AI.

AI is talking nonsense.