This research article aims to explain Nigeria’s budget performance by comparing it with the actual performance in each of the fiscal years. While the article gives explanations of some trends from 1981, it is specifically focused on budget performance from 2010 to 2019.
Total revenue as at October 2019 was N85.12 billion which shows that revenue underperformed by 34.69% when compared with N130.38 billion projected revenue for 2019. Total expenditure as at October 2019 on the other hand, was N77.37 billion which also underperformed by 40.66% when compared with the projected expenditure of N130.38 billion for 2019.
In this insightful piece, we analyzed the 2020 budget of Kogi state with special focus on the budget allocation for the Kogi State government house. We also identified some items which we believed are misplaced priorities.
In the end, we asked you to judge if the budget is a Hoax or not.
This research article aims to provide answers to the differences in analysts opinions on Nigeria having a debt problem or revenue problem by providing trend analysis of debt servicing in Nigeria, as well as compare debt services with capital expenditure over the period. It concluded by examining the budgeted revenue and actual revenue in 2018 to come about a conclusion on whether Nigeria has a debt problem or revenue problem.
While there have been different efforts from all corners talking about the big figures, this article however aims to breakdown the little figures which seem not to matter (to some individuals) but will make much impact if diverted to other areas that matter.
Currently, section 8 of the VAT law requires a taxable person (an individual, body of individuals, companies, etc) to register for VAT with FIRS and charge VAT at 5% on the supply of their goods or services to customers. The VAT charged must be paid to FIRS together with a VAT form duly filled and submitted on a monthly basis. Failure to comply carries financial penalties.