States’ Internally Generated Revenue (IGR) declined in the third quarter 2018, replicating the same downward trend as seen in the previous quarter. IGR dropped to N264.38 billion in 2018Q3, compared to N279.78 billion generated in the preceding quarter – down by 5.5 percent1. The recently released IGR report by the NBS also shows that 20 states generated less revenue during the quarter (including the FCT), and only 17 states recorded growth in IGR. Reductions in Pay-As-You-Earn (PAYE) Tax, Direct Assessment, Road Taxes and revenues from Ministries, Departments and Agencies (MDAs) prompted the overall decline. In order to expand the tax base thereby improving tax revenues, a special focus should be given to harnessing the informal sector into the tax net.
Macroeconomic Report & Economic Updates
February 25, 2019
Nigeria Economic Update (Issue 5)
States’ Internally Generated Revenue (IGR) declined in the third quarter 2018, replicating the same downward trend as seen in the previous quarter. IGR dropped to N264.38 billion in 2018Q3, compared to N279.78 billion generated in the preceding quarter – down by 5.5 percent1. The recently released IGR report by the NBS also shows that 20 […]
Read →
Related
Capital Importation And Gross Domestic Product Growth Rate And Contribution To GDP
Capital Importation: Overall capital imported into the manufacturing sector fell deeply in 2015 and has remained low in 2016H1 on the account of present FOREX issues affecting businesses in the sector
Benefit Incidence Analysis Of Education And Health Spending In Nigeria
This
brief examines the beneficiaries of government expenditure in
the social sectors of education and health, and answers the question of equity
in the provision of social services among different income groups.