The Budget Office of the Federation has said the Federal Government recorded a total revenue inflow of N20.98 trillion in 2024. In its fourth quarter (Q4) 2024 budget implementation report, the office said the amount was an increase of N8.50 trillion, representing 68.11 percent, compared to the N12.48 trillion generated in 2023. “Total revenue inflow […]
Nigeria’s revenue collection has surged by 411 percent in just 16 months, climbing from ₦711 billion in May 2023 to ₦3.64 trillion in September 2025, according to Special Adviser to the President on Revenue and Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji. Adedeji disclosed this on Tuesday during a press briefing organised by […]
The Fiscal Responsibility Commission in collaboration with the National Institute for Policy and Strategic Studies, has collaborated, organizing a high-level training on strategies for increased fiscal efficiency and enhanced Government revenue. This is coming with the persistent declining revenue challenges and the subsequent pressure on Government, meeting up with revenue targets. The workshop is expected […]
By Ben Azuka Revenue collection by electricity Distribution Companies increased to N291.62 billion in the first quarter of 2024 from N294.95 billion in Q4 2023, the National Bureau of Statistics (NBS) has said. In its Nigeria Electricity Report Q1 2024: Energy Billed, Revenue Generated And Customers By DISCOS report, the Bureau stated that “On a […]
By Tunde Opalana Revenue generating agencies of the Federal Government have been tasked to strive surpass the N18.3 trillion aggregate revenue intake target set for them in the 2024 federal budget. The Senate Committee on Finance said the target revenue inflow is achievable if agencies of government maximally utilize their earning powers and block all […]
By Tunde Opalana Former minister of Health, Architect Gabriel Aduku has made case for an increase in revenue given to host communities in oil producing areas. He, therefore appealed to President Bola Tinubu to ensure that the 13% revenue derivation given to oil producing states should be extended to communities bearing oil and other mineral […]
Tom Okpe, Abuja The House of Representatives Finance Committee, on Tuesday, invited the Nigerian Customs Service, Accountant General of the Federation and Budget Office to appear before it on Monday and explain issues surrounding the collection and appropriation of the Nigerian Shippers’ Council 2% Ports Development Levy revenue. This was as the Executive Secretary, Nigerian […]
The Federal Inland Revenue Service (FIRS) has deployed an online portal to address fake Tax Clearance Certificates (TCC) issued by fraudsters. Dr Abdullahi Ahmad, Director, Communications and Liaison Department of FIRS, disclosed this in a statement issued in Abuja on Friday. Ahmad said the effort was part of measures to check the activities of fraudsters […]
The Lagos State Internally Generated Revenue (IGR), closed at N127 billion at the end of the first quarter (Q1), Y2021, just as the government has saved about N8.9bn through renegotiation of its existing debt obligation. The commencement of the government’s funding of the N1.16trillion budget for this year has been noted to have recorded an […]
The fiscal condition of states in the federation has been highly deplorable for a very long time. It appears to have worsened in the past two decades. This has been caused by the increasing size of the bureaucracy and several other associated issues of the fledgling democratic dispensation that have pushed the expenditure of these […]
By Tunde Opalana President of the Senate, Ahmad Lawan on Tuesday raised the alarm that if the Federal Government fail to close the $14 billion revenue generation gap, the nation’s economy may once again go into recession. He also raised the hope of an early processing of the 2021 appropriation bill which he said would […]
The Galaxy Backbone (GBB) says it is set to partner the Bureau of Public Procurement (BPP), to enable the company to be a viable revenue generating entity for the Federal Government. The Managing Director, GBB, Prof. Muhammed Abubakar, stated this when he led a delegation of the company’s management board members on a courtesy visit […]
Keffi (Nasarawa State) – Brig.-Gen. Shuaibu Ibrahim, Director-General, National Youth Service Corps (NYSC), on Tuesday, disclosed that the scheme had put in place commercial platforms to boost its internally-generated revenue (IGR). Ibrahim, who made this disclosure on the sidelines of a three-day workshop, organised for members of staff of the corps, said that this was […]
Minister of State for Transportation, Sen. Gbemisola Saraki, has tasked government agencies to take Internally Generated Revenue, (IGR) seriously as it is the only way they can be productive. Sen. Saraki made this known when board members of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), paid her a courtesy visit recently […]
A group of analysts at FBNQuest have said Federal government non-oil revenue collection stood below proportion budget figure of N467 billion for 2018 budget. The Lagos based research firm noted that the Central Bank of Nigeria (CBN)’s latest monthly report for November noted that the federally-collected revenue still runs well behind budget. According to FBNQuest […]
…Pledges to ensure all federation revenues are accounted for in transparent manner The Federal Government has called on state governments to reduce unnecessary overhead costs and enthrone fiscal discipline in order to increase Internally Generated Revenue (IGR) for proper resources management with availability of scarce resources. The Minister of Finance, Mrs. Zainab Shamsuna Ahmed, made […]
A Taraba State High Court, Jalingo has convicted former Special Adviser on Revenue Matters to Taraba State government, Joshua Augustine, on a two-count charge bordering on criminal breach of trust, misappropriation and conversion of public funds. The Federal government had in 2012 provided financial assistance to the tune of N400 million for the procurement of […]
…Say action undermines security, loss of jobs, tax revenue …Insist development poses negative trend on investment drive Stakeholders in the Nigerian telecommunications industry have raised the alarm over the activities of some people in the country who have now taken their fraudulent act to a new dimension by using foreign telephone numbers to call people’s […]
The 36 states of the federation have so far withdrawn about 593.1 billion from the Federation Account as revenue generated in the first quarter of 2018. The breakdown is contained in the monthly Federation Account Allocation Committee (FAAC) report obtained by the News Agency of Nigeria (NAN) on Sunday in Abuja. The key agencies that […]
Task Team Leader of State and Local Governance Reform (SLOGOR), Mr Ikechukwu Nweje has urged state governments to amend outdated financial laws to improve their Internal Generated Revenue (IGR) and financial governance. Nweje made the call at a retreat organized for the six SLOGOR states participating in the Public Financial Management (PFM) Reforms in Enugu […]
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