Ibrahimanis:

Yeah yeah yeah.
From its a shame that Nigeria's budget is about same size as Kenya's to it is a shame that Nigeria's budget is about 15 trillion (about 40billion plus).

As at now the total 2019 budget is 15.737trillion naira (FG + 33 states apart from local governments. Remaining three states to submit their budget to their respective state assembly.

Ibrahimanis:

Let am go. I don tire for their matter I swear.

Total States' budget is almost the same size as Federal budget 2018

Then the local government's, let's say 500m naira each that's 500m x 774 = 3 trillion+ in naira.

But I can't come and go and kill myself

They can say what they want.

Jonraid:
It's interesting learning that the IGR itself can't fund the states budget. Actually,the FG often comes in to give this states a boost.The states are in a competition to present higher budget proposals which are grossly unrealistic!


''Speaking at the conference of the Chartered Institute of Taxation of Nigeria (CITN) on Wednesday, Vice-President Yemi Osinbajo said most states cannot survive without federal allocation.''


“The budget of all states completely outstrips their projected total revenues. The gap between projected total revenue and budgets is small in some states such as Kano, Enugu, Delta and Bayelsa. In these states, projected revenue is at least 60% of the budgets,” the NEITI report read.

“However, in 18 states, projected revenue is less than 40% of budgets (Adamawa, Akwa Ibom, Anambra, Bauchi, Benue, Borno, Cross River, Ebonyi, Imo, Katsina, Kebbi, Kwara, Ogun, Osun, Oyo, Plateau, Sokoto and Zamfara).''


https://www.thecable.ng/neiti-states-revenue-inadequate-fund-2018-budget


It seems that even the 40 billion USD I was giving you was so much.On the ground,things are different,deep down you know this! Ibrahimanis

Ibrahimanis:

FG does not give states "boost" as you say. The money given to states is their own money from natural resources which is under the control of federal Government.

Yes I know this which is why the picture I posted clearly stated IGR along Federal allocation.

Jonraid:
It's a boost if they really need it to actualize their budgets.Seems states are upping their budget proposals so as to draw additional funding from the FG!Where will the money come from? Someone asked! The FG itself has a deficit and States wants funds from it!

Ibrahimanis:

It does not matter if states increase their budget 500% it does not increase their allocation from FG, so your point saying states are increasing budgets to get more allocation is moot.

Jonraid:
Q: What are the revenue collection agencies of nigeria?

A: nigeria has many Revenue Collection Agencies, but the major ones are: FIRS, NCS, DPR, Others (NPA, NIMASSA, JAMB etc).#WhereIsTheBalance?

FIRS - Collects the following taxes on behalf of the Federal Republic of nigeria. - Company Income Tax (CIT)
- Petroleum Profit Tax (PPT)
- VAT
- Personal Income Tax
- WHT
- Education Tax
- Stamp Duties
- Capital Gains Tax
- NITDF Levy

Nigerian Customs Services
- Custom and Excise Duties.

Department of Petroleum Resources (via the NNPC)
- Royalties on Oil Producing fields
- Rent accruing from awarded concession
- Gas flaring penalties.

Others:
- NPA
- NIMASA
- JAMB
- Stolen Asset Recovery's
- Dividend
- etc

#WhereIsTheBalance?

Q: Where is the revenue collected by these agencies paid into?

A: They are paid into the Federation Account from where a committee known as FAAC meets monthly to divide it among the Federating units in accordance to the revenue sharing formula.
#WhereIsTheBalance?

Q: What is the sharing formula used by FAAC?

A: The sharing formula is
- FG: 52.68%
- States: 26.72%
- Local Govt: 20.60%
- There is an additional 13% derivation paid to oil producing states from oil proceeds based on the derivation principle.

#WhereIsTheBalance?

Q: Does it mean that all revenue are shared in accordance to that formula?

A: No. The VAT collected by FIRS and paid into the Federation Account is shared with a different formula.
- FG: 15%
- States: 50%
- LG: 35%
#WhereIsTheBalance?

Q: How much did d Federal Republic of nigeria earn in 2018?
A: We don’t have the full figures, but from public records, we can estimate
FIRS – N5.3 Trillion
NCS - N1.2 Trillion (Prorate from claim of N800B collected as at Aug)
DPR - N7 Trillion
Others - N500B
#WhereIsTheBalance?

Q: What is the estimated FG share of this amount?

A: First, let’s back out VAT. We know that out of VAT of N1 Trillion, the FG collects 15% which is = N150 Billion. 2ndly, we need to back out the 13% derivation from oil proceeds as well as other deductions.

Using the basic rule of the thumb, from an estimated revenue of N14Trillion, we can estimate that revenue available to the FG can't be higher than N6.5Trillion. Even this is generous just reflecting on 2018 budget performance figures.


Breakdown Of The 2019 FGN Budget ProposalThe Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects.

#WhereIsTheBalance?

Q: And the N9 Trillion Budget?
A: The N9 Trillion budget is the budget of d Federal Govt of nigeria and not the Federal Republic of nigeria. This means that the FG can only budget on its portion of federally collected revenue & not total collect-able revenue.

Since we estimate that the maximum revenue available to the FG would be N6.5 Trillion and the FG intends to spend N9 Trillion, what this means is that the FG will have to spend more than it earns and borrow the difference. This is what we call budget deficit.#WhereIsTheBalance?

Q: So where is the balance?

A: The balance is with your State Govt and Local Govt. Please engage them. Ask them questions. Challenge them to show you what they're doing with the amt of money they get from FAAC & also from igr (Internally generated revenue).

Jonraid:
It's interesting learning that the IGR itself can't fund the states budget. Actually,the FG often comes in to give this states a boost.The states are in a competition to present higher budget proposals which are grossly unrealistic!


''Speaking at the conference of the Chartered Institute of Taxation of Nigeria (CITN) on Wednesday, Vice-President Yemi Osinbajo said most states cannot survive without federal allocation.''


“The budget of all states completely outstrips their projected total revenues. The gap between projected total revenue and budgets is small in some states such as Kano, Enugu, Delta and Bayelsa. In these states, projected revenue is at least 60% of the budgets,” the NEITI report read.

“However, in 18 states, projected revenue is less than 40% of budgets (Adamawa, Akwa Ibom, Anambra, Bauchi, Benue, Borno, Cross River, Ebonyi, Imo, Katsina, Kebbi, Kwara, Ogun, Osun, Oyo, Plateau, Sokoto and Zamfara).''


https://www.thecable.ng/neiti-states-revenue-inadequate-fund-2018-budget


It seems that even the 40 billion USD I was giving you was so much.On the ground,things are different,deep down you know this! Ibrahimanis

Ibrahimanis:

It does not matter if states increase their budget 500% it does not increase their allocation from FG, so your point saying states are increasing budgets to get more allocation is moot.

darfay:



Where did you get this rubbish?

darfay:



Why are you making assumptions about a country you read about on the internet?

Jonraid:
This are facts sourced from your budget proposal tabled in parliament!

https://www.reuters.com/article/nigeria-budget/update-1-nigerias-president-presents-8-83-trln-naira-budget-for-2019-idUSL8N1YO3TE

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil
2.3 million barrels per day
N305 to $1 exchange rate
Real GDP growth of 3.01 per cent
Inflation rate of 9.98 per cent

On subsidy, Mr Buhari said it was abused in the past but his government has made NNPC the sole importer and now, the under recovery is from NNPC account while false claim by marketers is removed.

A total of N8.83 trillion is proposed as 2019 budget – Buhari

The breakdown:

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

https://www.premiumtimesng.com/news/headlines/301857-buhari-presents-2019-budget-to-national-assembly-live-update.html

Jonraid:
Kenya can now best do a budget of less than 35B (REAL ACTUAL BUDGET)

It would be foolish of us to project a 70b budget for 2019. It's unrealistic! Come up with realistic budgets otherwise you'll only be lying to yourselves that the budget is higher whilst it is not!

Danielnino00:


You people still don't get it...

Nigeria has three tiers of government and each tier has its own budget... The federal government budget in your opinion might be too small for a country like Nigeria, but have you tried calculating the state budgets too?

If the federal government budgets $1bn for health, it means the money will be spent largely on federal government owned health institutions.. The states have their own budget for health too to run their own institutions..

Come on... it's not that hard to decode

Jonraid:
Challenge it,don't just call it rubbish

Ibrahimanis:

There is nothing like "real actual budget" Budget is proposed, based on predictions. It's not real.

There is deficit sure but like I said earlier it's lower than Kenya's.

Anyway show me your budget implementation

2017 86%
https://www.vanguardngr.com/2018/10/2017-budget-achieved-86-performance-udoma/amp/

2018 67%
https://www.businessamlive.com/underperforming-revenue-sources-may-undermine-nigerias-budget-implementation/amp/

These are Nigeria's figures, show me that of Kenya. This is what we should have done since instead of comparing budgets. How many percent of the budget was implemented?

Ibrahimanis:

There is nothing like "real actual budget" Budget is proposed, based on predictions. It's not real.

There is deficit sure but like I said earlier it's lower than Kenya's.

Anyway show me your budget implementation

2017 86%
https://www.vanguardngr.com/2018/10/2017-budget-achieved-86-performance-udoma/amp/

2018 67%
https://www.businessamlive.com/underperforming-revenue-sources-may-undermine-nigerias-budget-implementation/amp/

These are Nigeria's figures, show me that of Kenya. This is what we should have done since instead of comparing budgets. How many percent of the budget was implemented?

darfay:



You just copied and pasted you didn't even understand it

Jonraid:
Their military men look like the terrorists themselves.Who dresses them?

edon21:
Kenyans can we see your govt budget please

Jonraid:
So if the states budget are grossly upped as said by your own officials citing the sources I have given you,what then is their real budget? I mean, a budget proposal of 60% higher than your own state IGR is just absurd.Even those(STATES) who made it 'below 40%' aren't going to click it,40% or below it is still much higher!

The FG itself has some issues when it comes to those assumptions it is making when tabling the budget proposal,oil which brings in lots of revenues won't be selling at 60 per barrel.People don't see that happening.The highest it can go up is 55! Many reckon that you'll grow at 2% or some points above that but not the 3% you reckon this year! We know the dollar won't easily come to 305 to the Naira as it's now at 362?

Jonraid:
So the Nigeria government is the one saying that the federal government budget was 86% implemented? It would be more better if an independent source would actually tell out this!

Jonraid:
Of course i got it from someone else,when you quote about Kenya it is usually from sources right? And not you! You asked where the balance went,I helped you on finding it.If you don't agree with it,challenge it!

Jonraid:
We are long past that,I'm now on the other tiers.

And even this three tiers aren't fully independent as some of you actually put it! The FG revenues still go on to helping functions of this other governments who seem to be jokers when proposing their budgetary plans!

Danielnino00:
Proposed 33 states and federal budget 2018