65% of the total revenue of the 36 states and the FCT in 2019 came from FAAC while the remaining 35% came from IGR of the states. From the IGR, over 60% came from the formal sector (PAYE) while 20% came from the informal sector (Other Taxes and Direct Assessment).
Who We Are
We are a group of professionally trained enthusiasts. We help researchers draw reasonable conclusions from a large chunk of data and make meaningful recommendations and policies.
Our goal is to become a sought after independent economic research group, assist researchers in the course of their research, and provide meaningful insight from data used in research in order to profer feasible solutions to the challenges confronting Nigeria, Africa and the world at large.
To become an Economic Research Consultant for the top Economic and Statistical agencies in the world as well as train 1,000 students across Nigeria in the use of SPSS, Eviews, and STATA by 2025.
The oil price crash was the result of a severe decline in international oil demand thanks to the spread of the novel coronavirus, made infinitely worse by an ensuing oil price war between the leading OPEC+ members of Saudi Arabia and Russia.
The consumer price index, (CPI) increased by 12.34% (year-on-year) in April 2020. This is 8bps higher than the rate recorded in March 2020 (12.26%). This is the eighth consecutive month of increase since August 2019 (11.02%) and the highest level since April 2018 (12.48%).