Wednesday, September 19, 2018

Tag "IGR"

    BudgiT: Despite high IGR, Lagos ‘weighed down’ by increasing debt

BudgiT: Despite high IGR, Lagos ‘weighed down’ by increasing debt

Despite having the highest internally generated revenue (IGR) in 2017, Lagos state may be on “shaky grounds” as a result of its increasing debt profile.This is according to the 2018 edition of the State of States Report released on Tuesday by BudgiT, a civil society organisation.The report measures the fiscal sustainability of the 36 states in the federation.Fiscal sustainability is [...]

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    Lagos: We’ve achieved N34bn out of our N50bn IGR target

Lagos: We’ve achieved N34bn out of our N50bn IGR target

The average monthly internally generated revenue (IGR) of Lagos state has risen to N34 billion from N22 billion recorded in 2015, the state government has said.Akinyemi Ashade, commissioner for finance, Lagos state made the disclosure on Monday at the state’s  annual ministerial press briefing in Alausa.Ashade said though the state set a target of N50 billion, some challenges made it [...]

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    INFOGRAPHIC: Projected 2018 revenue of states grossly inadequate to fund budgets

INFOGRAPHIC: Projected 2018 revenue of states grossly inadequate to fund budgets

The Nigeria Extractive Industries Transparency Initiative (NEITI), says states in the federation will be unable to execute their budgets or may have to increase borrowing because projected revenue is less than planned spending.In its quarterly review released on Thursday, NEITI said projected revenue for the 36 states was derived by summing up total projected internally generated revenue (IGR) with projected [...]

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    ‘Taxes not to increase revenue alone’ — Saraki calls for review

‘Taxes not to increase revenue alone’ — Saraki calls for review

Senate President Bukola Saraki says Nigeria’s tax laws must be reviewed to allow ease of doing business.Speaking at the inauguration of the technical committee on reforming Nigeria’s tax system at the national assembly, Saraki said the federal government’s target should not only be increased revenue but also how to encourage ease of doing business.He lamented the existing duplications in the current [...]

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    $50m earned from VAIDS in four months, says Fowler

$50m earned from VAIDS in four months, says Fowler

Babatunde Fowler, chairman, Federal Inland Revenue Service (FIRS), says the Voluntary Assets and Income Declaration Scheme (VAIDS) has yielded over $50 million in revenue since its launch four months ago.Fowler made this known on Monday while speaking at an event organised by the Nigeria governors’ forum secretariat in Abuja.Pointing to VAIDS as a key to revenue generation, Fowler said the scheme [...]

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    Ebonyi to partner with 50,000 farmers ‘to eradicate hunger’

Ebonyi to partner with 50,000 farmers ‘to eradicate hunger’

The Ebonyi state government says it will partner with over 50,000 farmers to boost agriculture and the state's internally generated revenue (IGR) before the end of the year.David Umahi, governor of the state, said this over the weekend when he received Zero Hunger Forum, an international group, in Abakaliki, the state capital.He said apart from the farmers, 8,000 civil servants [...]

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    Lagos IGR ‘outstrips’ 31 states put together

Lagos IGR ‘outstrips’ 31 states put together

The internally generated revenue (IGR) in Lagos state is more than that of 31 other states put together, according to data from the Nigerian Bureau of Statistics (NBS).Lagos internally generated N276.16b in 2014, ahead of Rivers and Delta which generated N89.11b and N42.82b respectively.On the low end were Borno, Yobe, Zamfara, Ekiti and Kebbi, generating N2.8b, N3.1b, N3.2b, N3.5b and N3.7b respectively.TheCable confirmed [...]

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Exchange Rates

September 18, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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