₦airaland Forum

"People are learning management. My friend used to have 5 Rolls Royce but he now drives a Honda Accord" — Tinubu.

This is the most comprehensive and detailed breakdown of the President Tinubu tax reform bill.
The new sharing formula for the tax reform
Current reform proposed reform
equality -50%. equality-20%
population - 30% population- 20%
derivation - 20% derivation -60%

Paraman:
It looks like Dangote refinery

https://www.youtube.com/watch?v=TUROIueRo78?si=qRdymHvIh-sKfc66

This ends a series of failed deadlines over commencement of production at the refinery in the oil-rich Rivers State

The Port Harcourt Refining Company (PHRC) Ltd in Rivers State has commenced crude oil processing.
This is according to the Chief Corporate Communications Officer of the Nigerian National Petroluem Company Limited (NNPCL) Femi Soneye.

“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

Soneye said truck loading will also commence on Tuesday (today), adding that the NNPCL is “working tirelessly to bring the Warri Refinery back online soon”.

Just over 3 years down the line. I have access to a brand new car, and now the latest Landlord.

Help me thank the Almighty for the achievements.

Same job, same qualifications, just different location.

God bless the United Kingdom 🇬🇧
God bless Nigeria 🇳🇬

Buoyed by the healthy IGR profile, Governor Fubara recently boasted that a court decision stopping the release of federal allocation to his state was the least of his worries, saying he would continue to pay contractors and workers.

Governor Siminalayi Fubara’s administration in Rivers State has received N726 billion in revenues in the last three quarters of the 2024 fiscal year, according to the Rivers State Budget Performance Report (BPR).

The figure is an aggregate of all revenues received by the state government, including from the Federation Account Allocation Committee (FAAC), Independent Revenue otherwise called Internally Generated Revenue (IGR), Other receipts (Aid/Grant and Capital Development Fund), and the opening balance for 2024.

The BPR is produced quarterly by the Ministry of Budget and Economic Planning, in conjunction with the Office of the Accountant General and Ministry of Finance, and published on the state website.

The report is, however, yet to be audited.
The document shows that from January to September, the state FAAC and IGR surpassed its 2024 budget target, indicating a strong revenue profile for the state despite over a year of political crisis.

Of particular note is that despite the political turmoil and high inflation, the state IGR has ballooned to a record high – generating an average of over N30 billion in the third quarter (Q3) of the year.

Nine months’ revenues against budget
According to the Q3 BPR published on the state government’s website, Rivers State has received a cumulative sum of N720.2 billion between January and September 2024.

Of the amount, the state government has received N597.8 billion, 116.2 per cent as recurrent revenue as against N514.3 billion it budgeted for in the current fiscal year. It has also received N122.4 billion as other receipts – Aid/Grants and Capital Development Fund in addition to its N6 billion opening balance for the 2024 fiscal year.

A breakdown of the recurrent revenue indicates that the state government received a total of N328.7 billion, 116 per cent as FAAC revenue in nine months as against N283.2 billion budget provisions.

Also, the state government has received N269.2 billion, 116.5 per cent as IGR as against N231 billion captured in the budget.

Quarterly revenue profile
Governor Fubara, who was the accountant general of the state before being elected governor of Nigeria’s second richest state has repeatedly acknowledged a leap in the IGR of the state since becoming governor.

For instance, Mr Fubara said the state IGR has jumped from the about N12 billion monthly he met when he assumed office to N25 billion monthly.

A review of the BPR by PREMIUM TIMES shows that the state made over N30 billion as IGR in some months, a development that made BudgIT, a non-profit organisation, rank the state as the only one after Lagos that can survive without federal allocation.

Buoyed by the healthy IGR profile, Governor Fubara recently boasted that a court decision stopping the release of federal allocation to his state was the least of his worries, saying he would continue to pay contractors and workers.

For instance, in the first quarter (Q1) of the year, Rivers State received N101 billion as FAAC revenue and N85.7 billion, representing 37.1 per cent of its budget, as IGR. The figure indicates that the state received an average of N28.6 billion as IGR from January to March.

Also, within Q1, it received N19.7 billion from other receipts – N19 billion as aid/grants and N700 million as capital development fund.

In the second quarter (Q2), the state government received N107.9 billion as FAAC revenue and N78.9 billion in IGR. The figure indicates a decrease of N6.8 billion in IGR from Q1 to Q2.
However, the state recorded a 25 per cent leap in IGR, increasing from N78.9 billion in Q2 to N104.5 billion in Q3. It also recorded an increase in FAAC revenue, from N107.9 billion in Q2 to N119.5 billion, indicating a 9.7 per cent increase.

Budget
The Rivers State Government has a budget size of N800 billion for the 2024 fiscal year. Of the figure, Governor Fubara’s administration has received a total of N726 billion in revenue within nine months indicating that the state government needs a paltry sum of N74 billion in revenue in the last quarter of the year – October to December to balance the controversial budget whose validity will be decided by Nigeria’s highest court – the Supreme Court.

PREMIUM TIMES arrived at N726 billion as total revenue by taking aggregate revenues from FAAC, IGR, other receipts, and opening balance.

Regarding expenditure as of Q3, the state government has expended N529.8 billion, representing 66.8 per cent against the budget.

The report indicates that the oil-rich state is waxing stronger in revenue generation despite a political turmoil that has factionalised it and battered the state legislature.

Hadizometer:
Shut up!!!, do you think this is APC elections where u can rig?

udemzyudex:
You'll have to unlock and change the settings.

Another way you can do this load the hard drive or ssd on another laptop, after the first stage, you force shut down the laptop, remove the hard drive or ssd and put it back on the laptop you want to use for it to continue the final process.
BTW, what's the model of your laptop?

mrvitalis:
Most of you don't know that there is absolutely no way to verify IGR... Most of this states inflate IGR figures to they can access more loans

We saw it in Osun
We just saw it in Kaduna

- Lagos State: ₦85,000
- Rivers State: ₦85,000
- Bayelsa State: ₦80,000
- Niger State: ₦80,000
- Enugu State: ₦80,000
- Akwa Ibom State: ₦80,000
- Abia State: ₦70,000
- Adamawa State: ₦70,000
- Anambra State: ₦70,000
- Jigawa State: ₦70,000
- Borno State: ₦70,000
- Ebonyi State: ₦75,000
- Edo State: ₦70,000
- Delta State: ₦77,000
- Gombe State: ₦71,000
- Ogun State: ₦77,000
- Kebbi State: ₦75,000
- Ondo State: ₦73,000
- Kogi State: ₦72,000
- Kwara State: ₦70,000

You have been an absolute failure as Works Minister. I wonder what appraisal was used to retain you. Do not ever complain about resources again. Don’t make me get mad at you.

FG CNG vehicles exploded

Tragedy strikes in Benin, Edo State as a gas powered vehicle exploded at a CNG station causing panic and injuries.🙆💔

FG CNG vehicles exploded

Tragedy strikes in Benin, Edo State as a gas powered vehicle exploded at a CNG station causing panic and injuries.🙆💔

pic.twitter.com/7ztwtf7Ckj

— Tosin Olugbenga (@TosinOlugbenga) October 17, 2024

Tragedy strikes in Benin, Edo State as a gas powered vehicle exploded at a CNG station causing panic and injury.

Apc guys, said i was paid 20k to De-market the CNG proudct lol 😆

Tragedy strikes in Benin, Edo State as a gas powered vehicle exploded at a CNG station causing panic and injury.

Apc guys, said i was paid 20k to De-market the CNG proudct lol 😆 pic.twitter.com/M5Nh710XMw

— Emma ik Umeh (Tcee )🇳🇬 (@emmaikumeh) October 17, 2024