Revenue Generation In Nigeria States

Definitely top oil and gas companies in nigeria pay tax to the federal government.

Revenue generation in nigeria states. Tax is a compulsory levy imposed by the government on individuals and companies for the various legitimate function of the state olaoye 2008. Ogun state is the most industrious state in the country with the highest number of factories in nigeria. Analysis of internally generated revenue and its implications on fiscal viability of state governments in nigeria. Lagos state is ranked first as the state with the highest igr by the nigerian bureau of statics.

Government revenues in nigeria averaged 873 38 ngn billion from 2010 until 2020 reaching an all time high of 1418 87 ngn billion in the fourth quarter of 2019 and a record low of 498 54 ngn billion in the second quarter of 2015. No doubt revenue generation in nigeria local governments is principally derived from tax. Government revenues in nigeria decreased to 864 88 ngn billion in the first quarter of 2020 from 1418 87 ngn billion in the fourth quarter of 2019. The chartered institute of taxation of nigeria citn has identified the significant role that the nigerian maritime administration and safety agency nimasa plays in ensuring that tax revenue becomes a prime source of government financing in the nation s economic development drive.

The revenue generated by lagos alone stands at an impressive n268 224 782 435 23. Revenue from oil sales. Tax is a necessary ingredient for civilization. Below are the top 10 highest revenue generating states in nigeria 2020.

Also located in the south west region just like lagos this state is also on the list of highest revenue generating states in the country with an estimated figure of n34 596 446 519 52 by the nbs. The scope of the study was limited to tax revenue generated by the federal government of nigeria and tax revenue generated by some selected states in nigeria from 2002 2011. Abdulmuminu who addressed journalists at the government house in katsina said the absence of a uniform process hampered revenue collection efforts in the state. It is worthy to note that in this study one state was selected from each of the six geo political zones in the country north central zone south southern.

The impact of tax administration on revenue generation in gombe state nigeria november 2018 scholedge international journal of management development issn 2394 3378 5 8 86.