The States Internally Generated Revenue Stats For The Year 2016

The new data released by the National bureau of statistics has revealed the performance of states with regards to how much  Internally generated revenue was collected by the states for the period of 2016.

It is a common knowledge to everyone that  Nigeria has been facing some challenges ranging from economic recessions and reduced revenue from its crude oil exports. These challenges listed above has compelled many states to improve upon their internally generated revenue drive.

Summary notes: clearly Lagos leads with the highest Internally generated revenue per state followed by Rivers and Ogun states respectively,Lagos been the leader comes as no surprise. It still remains the commercial hub of Nigeria ,2nd placed Rivers state is an oil producing area in the Niger delta region with lots of production and exploration activities (Petroleum Industry) and 3rd placed Ogun state enjoys close proximity to Lagos and also has a lot factories (Spillover benefits from Lagos).
Data Source :National Bureau of statistics

 

Summary notes:
Road Taxes collection by the states for 2016 shows Lagos with a clear lead with over 9.5 billion naira and Abia state’s collections stood at over 1.7 billion naira while Kano state`s collection stood at over 1.1 billion naira .Also note the data visualization above shows road taxes collections for just 33 states and not all 36 states because data on road taxes collections limited to only 33 states.
Data Source: National Bureau of statistics

 

Summary notes:
PAYE Taxes collection by the states for 2016 shows Lagos with a clear lead with over 191 billion naira and Delta state’s collections stood at over 37 billion naira while Ogun state`s collection stood at over 24 billion naira .Also note the data visualization above shows PAYE taxes collections for just 33 states and not all 36 states because data on PAYE taxes collections limited to only 33 states.
Data Source: National Bureau of statistics

 

Summary notes:
Ministry, Departments and Agencies Revenue collection by the states for 2016 shows Rivers  with a clear lead with over 85 billion naira and Lagos state’s collections stood at over 49 billion naira while Ogun state`s collection stood at over 40 billion naira .Also note the data visualization above shows MDAs Revenue collections for just 35 states and not all 36 states because data on MDAs Revenue collections limited to only 35 states.
Data Source: National Bureau of statistics

 

Summary notes:
Other Taxes collection by the states for 2016 shows Lagos with a clear lead with over 43.2 billion naira and Ogun state’s collections stood at over 6.4 billion naira while Edo state`s collection stood at over 4.7 billion naira .Also note the data visualisation above shows Other taxes collections for just 33 states and not all 36 states because data on Other taxes collections limited to only 33 states.
Data Source: National Bureau of statistics

 

Summary notes:
Direct assessment taxes collection by the states for 2016 shows Lagos with a clear lead with over 10.5 billion naira and Abia state’s collections stood at over 2.8 billion naira while Ogun state`s collection stood at over 1.8 billion naira .Also note the data visualization above shows direct assessment taxes collections for just 33 states and not all 36 states because data on direct assessment taxes collections limited to only 33 states.
Data Source: National Bureau of statistics
Lagos and Rivers states still continue to maintain there overall lead positions in the total collection of Internally generated revenue.
Ogun state total IGR collection over the 3 year period has been stellar.
As you can see from the snapshot chart above its total IGR collection for 2016 (Over 72 billion naira) is more than double its previous IGR record collection for 2015 (Over 34 billion naira)
Ogun state has made tremendous effort towards increasing its IGR collections.
In 2014 it percentage share of total cumulative collection of IGR by all states was 2.5% ,also in 2015
percentage share of total cumulative collection of IGR by all states was 5.1% and in 2016 it also had percentage 9.1% total cumulative collection of IGR by all states.

 

In conclusion states that continue to improve upon their revenue collections (IGRs) profile will ultimately find it less difficult to meet up
with it’s obligations.

 

 

 

 

 

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How Much Did Nigerian Households Pay For Diesel?? For November 2016

If Mr. XYZ who lives in Nigeria had negotiated a forward contract for the supply of diesel to his household for November 2016 around November 2015 period.

Is it safe to say that Mr. XYZ would have successfully hedge against the price risk relating to diesel???? .Well the answer is Mr. XYZ would have registered significant savings depending on his given location within the country.It is no secret that the purchase price of diesel in Nigeria has changed  across various  locations (i.e. States) there is exist some sort of price disparity.

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The chart above tell us that the price of Diesel in Nigeria moved significantly across some states of the federal republic of Nigeria over a 3 month period.

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From the table above we also carried out year over year analysis of the price of diesel paid by Nigerian households and business, Along with the various price differentials .

The location  with the highest price differentials  is Zamfara state within the north west geopolitical region of Nigeria with about N56.46k higher than Nov 2015 price of diesel.

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From the chart above  we can clearly observe that  year over year purchase price of diesel by households in Nigerians at various geopolitical zones shows a significant movement in the price of diesel from Nov 2015 to Nov 2016.

In conclusion it safe to say that households in Nigeria are mostly like going to have to deal with more price fluctuations of diesel . Households and business  may have to take more proactive measures towards preparing  themselves for the  challenges ahead.