The TaxaideR Newsletter Vol 1.10 (October 2019)

In a few hours, the month of October would elapse, and would effectively usher in November, the second to the last month of the year. I believe it is safe to say the bells would be jingling soon in anticipation of Christmas. One remarkable thing separates Christmas from every other celebration all over the world. It remains the most popular, most generally accepted and biggest celebration that people of all walks of life, religion and social standing cannot help but identify with. I think I should catch myself quickly and come back to reality. Christmas is still at least a good seven weeks away!

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H1 2019 – Internally Generated Revenue Snapshots: Which States Performed Best?

Top 5 States by IGR

The top 5 performing states by Internally Generated Revenue (IGR) which consists of revenue from Taxes and Ministries Departments and Agencies (MDA) are;

  • Lagos State – As usual Lagos state leads with the highest IGR of N205.16 billion
  • Rivers State – Rivers follows at a distant second with IGR of N75.97 billion
  • Delta State – Delta comes in at third place with IGR of 36.39 billion
  • Ogun State – Ogun is in fourth position with IGR of 29.58 billion
  • Kaduna State – In fifth place comes Kaduna with IGR of 22.40 billion
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FGN Proposed 2020 Budget

On October 8, 2019 President Muhammadu Buhari presented the 2020 Budget of Sustaining Growth and Job Creation to the National Assembly.

The Budget Highlights

  • The proposed 2020 budget is N10.33 trillion. This is N1.41 trillion higher than the 2019 budget of N8.92 trillion.
  • The total estimated revenue is N8.155 trillion. This is N1.15 trillion higher than the 2019 budget of 7.00 trillion
  • The 2020 budget deficit stands at N2.18 trillion. This is N0.26 trillion (N260 billion) higher than the 2019 budget deficit of N1.92 trillion.
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Nigeria at 59: To Rejoice or to Reflect

Hearty Cheers to the ‘Giant of Africa’ at 59. Why again are we called the giant of Africa? Is it because of our great achievements such as having the largest economy in Africa with a GDP of about $380billion or because of our enormous population of about 201 million with over 250 ethnic groups or because we are the one of the largest oil- producing nations? I’d leave that for you to decide.

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