Saturday, 20 June 2015

36 States Earn N2.87tn IGR In Five Years

Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Dr.Yemi Kale

A total sum of N2.87tn was earned as Internally Generated Revenue by the 36 states of the federation within the last five years, a report prepared by the National Bureau of Statistics has shown.
The report, a copy of which was obtained by our correspondent in Abuja on Friday, indicated that the revenue was generated from four sources.
They are Pay-As-You-Earn; direct assessment; road taxes and unnamed other revenue source.
A breakdown of the figure showed that the sum of N417.03 was earned in 2010; N499.08bn in 2011; N567.99bn in 2012; N800bn in 2013 and N586.6bn in the 2014 fiscal period.
A further analysis of the revenue of the 36 states showed that Lagos State, with total revenue of N1.23tn generated within the five year period, led the IGR collection chart.
The Lagos State’s figure, when further broken down, showed that the state earned N149.96bn in 2010; N202.76bn in 2011; N219.20bn in 2012 while N384.25bn and N276.16bn were the amounts generated as the IGR in 2013 and 2014, respectively.
Rivers State followed Lagos on the revenue chart with a total collection of N345.53bn within the five year period.
The amount was earned as follows: N43.63bn in 2010; N52.71bn in 2011; N66.27bn in 2012; N87.91bn in 2013 while 2014 had the sum of N89.12bn.
Other states with high IGR within the five year period, according to the report, are Akwa Ibom State with N66.2bn; Delta, N154.21bn; Edo, N64.1bn; Enugu, N72.7bn; Kaduna, N56.37bn; and Oyo had N65.52bn.
The revenue made by these states, it was learnt, excluded the monthly allocation, which they received from the Federation Accounts Allocation Committee for the period under review.
For instance, a total sum of N7.75tn was shared among the three tiers of government within the 2014 fiscal period.
An analysis of the monthly distribution made also showed that the N7.75tn distributed in 2014 represents a decline of N150bn or 1.89 per cent over the N7.9tn, which the committee allocated in the 2013 fiscal period.
The federation account is currently being managed under a legal framework that allows funds to be shared with three major components – statutory allocation, Value Added Tax distribution and allocation made under the derivation principle.
Under statutory allocation, the Federal Government gets 52.68 per cent of the revenue shared; states, 26.72 per cent; and local governments, 20.60 per cent.
The framework also provides that VAT revenue be shared thus: the Federal Government, 15 per cent; states, 50 per cent; and local governments, 35 per cent.
Similarly, extra allocation is given to the nine oil producing states based on the 13 per cent derivation principle.
A breakdown of the N7.75tn figure for 2014 shows that the month of June had the highest allocation of N755.95bn; while September, with N693.53bn, and May, with N683.89bn, followed in that order.
The sum of N621.12bn was allocated in January; February had N641.29bn; while N641.38bn, N634.72bn and N654.58bn were the amounts distributed in March, April and July, respectively.
For the months of August, October, November and December, the committee distributed N611.76bn, N593.34bn, N628.77bn and N580.37bn, respectively.

HENRY E. J Williams

Author & Editor

Has laoreet percipitur ad. Vide interesset in mei, no his legimus verterem. Et nostrum imperdiet appellantur usu, mnesarchum referrentur id vim.


Post a Comment