Internally Generated Revenue
Internally Generated Revenue (IGR) (Billion )
Falling IGR post-2013
Gross Federally Collected Revenue to GDP Ratio (%)
Declining Federal Government Revenue
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions affecting business performances.
Gross Federally Collected Revenue to GDP Ratio: This has generally declined overtime on the account of declining crude oil revenues (from oil export and petroleum profit tax) and, to a lesser extent, non-oil revenues (from taxes and Custom and Excise duties).
Capital Importation: Given the positive outlook on the ITC sector in the past few years, investments in the sector reached a 10-year peak in 2014. However, the foreign investment fell marginally in 2
Export and its Components: In 2015 and 2016Q1, overall export earnings declined significantly to a record low of less than $3000 million in 2016Q1, as against the peak of above $10,000 million in 2008
Purchasing Managers Index: The level of business activities declined sharply in the first half of 2016 on the account of weak economic performance. Particularly, the issues surrounding exchange rates
Tax Collected: Tax revenue which has relatively maintained an upward trend, fell considerably in 2015 and dipped significantly in early 2016 on the account of economic downturn, as many businesses sev