Serious Panic: Federation Account Nosedives as Nigeria Ranks 4th in Global Oil Supply Outages

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Panic As Federation Revenue Nosedives

Again, attempts by the Federation Accounts Allocation Committee (FAAC), the statutory body authorized to share revenues accruing into the federation account among beneficiaries (federal, states, FCT,  local government and revenue generating agencies) failed to agree on what the office of Accountant General of the Federation Jonah Otunla proposed for distribution in the month of August... Read more » http://economicconfidential.com/2013/10/panic-as-federation-revenue-nosedives/

 

Nigeria Ranks 4th In Global Oil Supply Outages

With more than 200,000 barrels per day (bpd) of crude oil being lost to pipeline vandalism, crude oil theft and spills, Nigeria ranks fourth in the league of countries who contribute to global oil supply outages, estimates from analysts at Deutsche Bank and other shipping and industry sources, have shown. According to the estimates, total... Read more » http://economicconfidential.com/2013/10/nigeria-ranks-4th-in-global-oil-supply-outages/

 

Kano Youths Take Up Careers in Corporate Security

After the establishment of Kano Corporate Security Institute in the city, more unemployed youths, especially graduates have been registered to enrol in intensive training on security and disaster management. Governor Rabi'u Musa Kwankwaso of Kano State has disclosed that his administration established the Security Institute to encourage youths in the state to take up careers... Read more » http://economicconfidential.com/2013/10/kano-youths-take-up-careers-in-corporate-security/

 

Poverty As Ultimate Reward For Pension Fund Contributors?

Our collective sense of compassion seems to have become so dulled to media reports and photographs of emaciated senior citizens collapsing after waiting endlessly in queues under the hot tropical sun, for verification of their identity or eventual payment of pension entitlements from government agencies responsible for disbursement!  In reality, the victims of such oppression... Read more » http://economicconfidential.com/2013/10/poverty-as-ultimate-reward-for-pension-fund-contributors/

 

Joe Anichebe: Image Maker Of BPE

The gentility, geniality and amiable mien of Mr. Joseph Chigbo Anichebe has over the years tempered public hostility towards privatisation in Nigeria. Not minding that the concept of privatisation is much feared and hated by majority of Nigerians, public attitude to the Bureau of Public Enterprises (BPE), secretariat and implementation arm of the National Council... Read more » http://economicconfidential.com/2013/10/joe-anichebe-image-maker-of-bpe/

 

Mordi Emerges CEO, National Competitiveness Council

President Goodluck Jonathan has appointed Mr. Chika Mordi, as the first Chief Executive of the National Competitiveness Council of Nigeria (NCCN). Other members of the premier NCCN board include Michael Porter, Aliko Dangote, Lynda Chalker and Juan Pardinas. Minister of Industry, Trade and Investment, Mr. Olusegun Aganga said in a statement, "We are pleased to... Read more » http://economicconfidential.com/2013/10/mordi-emerges-ceo-national-competitiveness-council/

 

BPE Plans Regulatory Framework For Social Media

Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki has revealed that in line with its reform mandate, the Bureau plans to initiate necessary policies and the legal frame work for the regulation of the Social Media in the country. The DG who made this known at a two-day retreat for... Read more » http://economicconfidential.com/2013/10/bpe-plans-regulatory-framework-for-social-media/

 

Poverty As Ultimate Reward For Pension Fund Contributors?

Our collective sense of compassion seems to have become so dulled to media reports and photographs of emaciated senior citizens collapsing after waiting endlessly in queues under the hot tropical sun, for verification of their identity or eventual payment of pension entitlements from government agencies responsible for disbursement!  In reality, the victims of such oppression... Read more » http://economicconfidential.com/2013/10/poverty-as-ultimate-reward-for-pension-fund-contributors/

 

Jonathan, 2015 And Threats By Fire-spitting Militants

At the presidential level, Goodluck Jonathan has taken the Oath of Allegiance and the Oath of Office on three occasions  first as the vice-president, as the acting president and again as the substantive president.  These pledges were taken, not as a sectional or ethnic leader, but as a national leader. But in recent times, particularly... Read more » http://economicconfidential.com/2013/09/jonathan-2015-and-threats-by-fire-spitting-militants-2/

 

Nexim Bank: Repositioning For Non-oil Exports

IN recent decades, export competitiveness in the era of globalization has been at the heart of domestic economic growth and development debates. Against the background of growing disparity in income between the developed and the developing world, due largely to divergence in industrial capacity, the central question has always been: what can and should be... Read more » http://economicconfidential.com/2013/09/nexim-bank-repositioning-for-non-oil-exports/

 

That Nigeria's Quest for Membership of UNSC

At 53 Nigeria has faced some challenges of nationhood, similar to what other great nations had or have faced. While one is concerned by disturbing negative trends that dampen the spirit of writing positively about the country, Nigeria's greatness is in its abundant human and material resources. Having had the opportunity of travelling to some... Read more » http://economicconfidential.com/2013/09/that-nigerias-quest-for-membership-of-unsc/

 

On The Matter Of Ongoing Universities' Strike In Nigeria

Dabbling into ASUU-Federal Government negotiations matters as I intend to do in this short piece is always  "risky business" because of very many hardened positions over time, and due to fundamental lack of trust on all sides.  However, with what is at stake in human capital and socio-economic development of the country when it comes... Read more » http://economicconfidential.com/2013/09/on-the-matter-of-ongoing-universities-strike-in-nigeria-2/

 

Boko Haram: Inches Away to Total Victory

Without doubts, the Nigerian security apparatchik is recording tremendous success in its efforts to root out insurgency in different parts of the country, especially the north east. True to its promise, the Joint Military Taskforce (JTF) has continued to launch offensive against criminal elements and terrorism in the country. Recently the Nigerian Army announced the... Read more » http://economicconfidential.com/2013/09/boko-haram-inches-away-to-total-victory/

For more, visit the oue website

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine
www.economicconfidential.com

Serious Panic: Federation Account Nosedives as Nigeria Ranks 4th in Global Oil Supply Outages

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Panic As Federation Revenue Nosedives

Again, attempts by the Federation Accounts Allocation Committee (FAAC), the statutory body authorized to share revenues accruing into the federation account among beneficiaries (federal, states, FCT,  local government and revenue generating agencies) failed to agree on what the office of Accountant General of the Federation Jonah Otunla proposed for distribution in the month of August... Read more » http://economicconfidential.com/2013/10/panic-as-federation-revenue-nosedives/

 

Nigeria Ranks 4th In Global Oil Supply Outages

With more than 200,000 barrels per day (bpd) of crude oil being lost to pipeline vandalism, crude oil theft and spills, Nigeria ranks fourth in the league of countries who contribute to global oil supply outages, estimates from analysts at Deutsche Bank and other shipping and industry sources, have shown. According to the estimates, total... Read more » http://economicconfidential.com/2013/10/nigeria-ranks-4th-in-global-oil-supply-outages/

 

Kano Youths Take Up Careers in Corporate Security

After the establishment of Kano Corporate Security Institute in the city, more unemployed youths, especially graduates have been registered to enrol in intensive training on security and disaster management. Governor Rabi'u Musa Kwankwaso of Kano State has disclosed that his administration established the Security Institute to encourage youths in the state to take up careers... Read more » http://economicconfidential.com/2013/10/kano-youths-take-up-careers-in-corporate-security/

 

Poverty As Ultimate Reward For Pension Fund Contributors?

Our collective sense of compassion seems to have become so dulled to media reports and photographs of emaciated senior citizens collapsing after waiting endlessly in queues under the hot tropical sun, for verification of their identity or eventual payment of pension entitlements from government agencies responsible for disbursement!  In reality, the victims of such oppression... Read more » http://economicconfidential.com/2013/10/poverty-as-ultimate-reward-for-pension-fund-contributors/

 

Joe Anichebe: Image Maker Of BPE

The gentility, geniality and amiable mien of Mr. Joseph Chigbo Anichebe has over the years tempered public hostility towards privatisation in Nigeria. Not minding that the concept of privatisation is much feared and hated by majority of Nigerians, public attitude to the Bureau of Public Enterprises (BPE), secretariat and implementation arm of the National Council... Read more » http://economicconfidential.com/2013/10/joe-anichebe-image-maker-of-bpe/

 

Mordi Emerges CEO, National Competitiveness Council

President Goodluck Jonathan has appointed Mr. Chika Mordi, as the first Chief Executive of the National Competitiveness Council of Nigeria (NCCN). Other members of the premier NCCN board include Michael Porter, Aliko Dangote, Lynda Chalker and Juan Pardinas. Minister of Industry, Trade and Investment, Mr. Olusegun Aganga said in a statement, "We are pleased to... Read more » http://economicconfidential.com/2013/10/mordi-emerges-ceo-national-competitiveness-council/

 

BPE Plans Regulatory Framework For Social Media

Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Ezra Dikki has revealed that in line with its reform mandate, the Bureau plans to initiate necessary policies and the legal frame work for the regulation of the Social Media in the country. The DG who made this known at a two-day retreat for... Read more » http://economicconfidential.com/2013/10/bpe-plans-regulatory-framework-for-social-media/

 

Poverty As Ultimate Reward For Pension Fund Contributors?

Our collective sense of compassion seems to have become so dulled to media reports and photographs of emaciated senior citizens collapsing after waiting endlessly in queues under the hot tropical sun, for verification of their identity or eventual payment of pension entitlements from government agencies responsible for disbursement!  In reality, the victims of such oppression... Read more » http://economicconfidential.com/2013/10/poverty-as-ultimate-reward-for-pension-fund-contributors/

 

Jonathan, 2015 And Threats By Fire-spitting Militants

At the presidential level, Goodluck Jonathan has taken the Oath of Allegiance and the Oath of Office on three occasions  first as the vice-president, as the acting president and again as the substantive president.  These pledges were taken, not as a sectional or ethnic leader, but as a national leader. But in recent times, particularly... Read more » http://economicconfidential.com/2013/09/jonathan-2015-and-threats-by-fire-spitting-militants-2/

 

Nexim Bank: Repositioning For Non-oil Exports

IN recent decades, export competitiveness in the era of globalization has been at the heart of domestic economic growth and development debates. Against the background of growing disparity in income between the developed and the developing world, due largely to divergence in industrial capacity, the central question has always been: what can and should be... Read more » http://economicconfidential.com/2013/09/nexim-bank-repositioning-for-non-oil-exports/

 

That Nigeria's Quest for Membership of UNSC

At 53 Nigeria has faced some challenges of nationhood, similar to what other great nations had or have faced. While one is concerned by disturbing negative trends that dampen the spirit of writing positively about the country, Nigeria's greatness is in its abundant human and material resources. Having had the opportunity of travelling to some... Read more » http://economicconfidential.com/2013/09/that-nigerias-quest-for-membership-of-unsc/

 

On The Matter Of Ongoing Universities' Strike In Nigeria

Dabbling into ASUU-Federal Government negotiations matters as I intend to do in this short piece is always  "risky business" because of very many hardened positions over time, and due to fundamental lack of trust on all sides.  However, with what is at stake in human capital and socio-economic development of the country when it comes... Read more » http://economicconfidential.com/2013/09/on-the-matter-of-ongoing-universities-strike-in-nigeria-2/

 

Boko Haram: Inches Away to Total Victory

Without doubts, the Nigerian security apparatchik is recording tremendous success in its efforts to root out insurgency in different parts of the country, especially the north east. True to its promise, the Joint Military Taskforce (JTF) has continued to launch offensive against criminal elements and terrorism in the country. Recently the Nigerian Army announced the... Read more » http://economicconfidential.com/2013/09/boko-haram-inches-away-to-total-victory/

For more, visit the oue website

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.net

Foreign Aid Wont Help Africa and Facts on Best Universities, Poly and COEs in Nigeria

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Top 10: Most Preferred Universities, Polytechnic and College of Education in Nigeria

The University of Benin emerged the top most preferred university in Nigeria. The Federal Polytechnic Ilaro and Federal College of Education Zaria are the most preferred Polytechnic and College of Education respectively in 2013. Read... http://economicconfidential.net/new/financial/facts-a-figures/1380-top-10-most-preferred-universities-polytechnic-and-college-of-education-in-nigeria

Foreign Aid Won't Help Africa- Kingsley Moghalu

Kingsley Moghalu, a Solicitor and Advocate of the Supreme Court of Nigeria obtained a Ph.D. from the London School of Economics and Political Science (LSE) is a Deputy Governor, Central Bank of Nigeria. The author of recently published book Emerging Africa: The Global Economy's Last-Frontier, speaks to Economic Confidential on various bedevilling Africa from progress and also warns Nigeria that Oil is a wasting resource that will not last forever. It will last less than 40 years. Read: http://economicconfidential.net/new/interviews/1373-foreign-aid-wont-help-africa-kingsley-moghalu

AbdulGaniyu Ambali: Heightening Standards at Unilorin

Rather than joining the ASUU' Strike this Vice Chancellor of a  University pre-occupies himself with how to  sustain high academic standards and maintain a smooth calendar through concerted efforts and collaboration with every segment of the university community including lecturers, non-academic staff and students as well as the host community. This is a profile of Prof. AbdulGaniyu Ambali of University of Ilorin. Read: http://economicconfidential.net/new/component/content/article/1379-abdulganiyu-ambali-heightening-standards-at-unilorin

Myth Of Africa Rising Theory

For a man that was in the United Nations System for 17 years, rising to the position of a director, it is a wonder but certainly must be taken seriously, his feeling that Africa must be wary of globalisation because "it is never neutral". A situation where investors come into Africa to buy land for cheap and produce food to ensure food security for their own countries should not be tolerated. Read: http://economicconfidential.net/new/features/1374-myth-of-africa-rising-theory

£3,000 UK VISA BOND: Is government huffing and puffing?

Nigerians were recently agitated by the British government's proposed demand for a £3000 bond as prerequisite for the issuance of a six-month visa for visitors from Nigeria, and five other Commonwealth countries to the United Kingdom. Read: http://economicconfidential.net/new/features/1371-p3000-uk-visa-bond-is-government-huffing-and-puffing

Nelson Mandela: The global citizen

Since the winter of 2011 when he was hospitalised for respiratory infection, South African legend Nelson Mandela has been in and out of the hospital a couple of times. Sadly, his health took a turn for the worse... Read: http://economicconfidential.net/new/features/1369-nelson-mandela-the-global-citizen

Structural Transformation in Nigeria and Africa

In the 35 years leading to 2005, crude oil exploration, production and export provided the only talking point on Nigeria in international business of scale. Over this period, the Nigerian economic outlook was impacted mainly by global politics and market events. Read.... http://economicconfidential.net/new/financial/monetary/1367-structural-transformation-in-nigeria-and-africa

FIRS to Launch Automated Tax System in October 2013

As from October 2013, Federal Inland Revenue Service will have blocked all tax system loopholes used by individual and corporate tax evaders, the Federal Inland Revenue Service, FIRS, has disclosed.

This optimism was borne out of the fact that by the period under reference, the tax system in the country would have been fully automated. Read: http://economicconfidential.net/new/financial/tax-matters/1368-firs-to-launch-automated-tax-system-in-october

For States News, please visit: http://economicconfidential.net/new/news/state-news

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.net

Federation Account: The Rich and Poor States in Nigeria after May 2013 Allocation of N1.6 Trillion

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Federation Account: Rich and Poor States in May 2013, as Akwa Ibom Leads in Naira and Dollars

'Manna fell from the Heaven' when over N1.6 Trillion was disbursed to the tiers of government in May 2013 from various accounts at the meeting of the Federation Account Allocation Committee (FAAC) in Abuja. The Economic Confidential provides the table of the allocations by ranking of states where Akwa Ibom State came first with its receipt of N69.4bn and Ebonyi being the poorest when it receivedgot N12.6bn the same month. Read: http://economicconfidential.net/new/financial/facts-a-figures/1362-federation-account-the-richest-and-poorest-states-as-akwa-ibom-takes-lion-share-in-naira-and-dollars

The States: How They Have Fared In 2 Years 

In this mid-term report, the Economic Confidential here brings you a summary of what citizens have enjoyed from their various state governments in the last 24 months that most of the governments were sworn in. Read: http://economicconfidential.net/new/news/state-news/1353-the-states-how-they-have-fared-in-2-years

The Verdict on Jonathan's Half-Time

The mid-term review of the Goodluck Jonathan administration was celebrated with much pomp and pageantry. To an onlooker or a visitor to the country, the review of the administration's performance was right on course and almost believable. The paradox is that the same people who set the examinations, sat for them and graded themselves. Read: http://economicconfidential.net/new/features/1356-the-verdict-on-jonathans-half-time

Clarifying Nigeria's Debt Status 

There has recently been a lot of misinformation and misconception in our public debate on debt. My goal in this article is to shed some light on the public debt, to clarify the real state of Nigeria's debt position, and hopefully, provide a knowledge platform for constructive debate. Read: http://economicconfidential.net/new/features/1358-clarifying-nigerias-debt-status

Bature U. Masari: A Journalist at the Helm of Affairs in SMEDAN

He has been a man many parts: a journalist, politician, entrepreneur, and a seasoned administrator. The Economic Confidential gathered that Masari was once a Reporter with the Defunct Democrat Newspapers, Kaduna from 1987-1990. From 1990 to 1999, he worked with the Nigeria Customs Service. And later joined Thisday Newspaper as a Political Correspondent from 1999-2003. Read: http://economicconfidential.net/new/component/content/article/1354-bature-u-masari-a-journalist-at-the-helm-of-affairs-in-smedan

CBN Reserves and the Status of Dollar against Naira

Out of total current national reserves of about $50bn, the excess crude account apparently holds about $9bn, while about $1bn is domiciled in the sovereign wealth account; the balance of about $40bn comprise what CBN proudly claims as its own reserves, which do not technically belong to the federation account, and cannot therefore be appropriated.Read: http://economicconfidential.net/new/features/1357-cbn-reserves-and-the-status-of-dollar-against-naira

Nexim Bank and Structural Transformation of Nigeria's Economy 

Nigeria is the natural leader of Africa. For decades, our dear country has been Africa's foremost producer and 8th world largest exporter of crude oil to the international market. Nigeria is strategically located to take advantage of modern forms of transportation to enable her participation in cross-border trade, and build a virile domestic economy. Read: http://economicconfidential.net/new/features/1360-nexim-bank-and-structural-transformation-of-nigerias-economy

Finance Minister Supports FIRS Boss, Agency Generates N1.5tr in First Quarter 

The Coordinating Minister for the Economy and Minister of finance, Dr. Ngozi Okonjo-Iweala has enjoined staff of the Federal Inland Revenue Service (FIRS) to support and accord the management of the service under the leadership of Kabiru Mashi the needed cooperation in realizing its mandate. Read: http://economicconfidential.net/new/financial/tax-matters/1349-finance-minister-supports-firs-boss

Request for Memoranda on New Revenue Formula

The Commission is, therefore, inviting memoranda from the Federal, State and Local Governments, Members of the general Public, the Civil Society, the Mass Media, the Academia and all Stakeholders, towards the preparation of a new revenue allocation formula. This REPEAT advertisement is to provide another opportunity for those who may not have responded to the earlier invitation and/or those who wish to make additional submissions to do so NOW. Read: http://economicconfidential.net/new/focus/1341-request-for-memoranda-on-new-revenue-formula

Kwankwasiya: Taming Ignorance and Begging in Kano

Realising the importance of knowledge, skill acquisition and job creation, the Kano State government through its Kwankwasiya slogan is fighting ignorance, street begging and other vices through massive investment on education and critical infrastructure. Read: http://economicconfidential.net/new/features/1361-kwankwasiya-taming-ignorance-and-begging-in-kano

Nigeria and Personalization of Rule of Law

I have never been anti-Yoruba or anti-any ethnic group. My life is enriched by friendships and connections across countless ethnic groups. Others accused me of mercenary journalism – suggesting that President Goodluck Jonathan or members of his camp paid me to join in the attacks against Gen Olusegun Obasanjo. Read: http://economicconfidential.net/new/features/1359-nigeria-and-personalization-of-rule-of-law

Towards Making the Eastern Rail Line Functional

One thing even the ardent critics of this Administration will not fail to acknowledge is that tremendous progress is being made in the rail sub sector of the economy. Undoubtedly, the resuscitation of the Lagos to Kano rail services also known as the Western line in December last year is one of the major... Read: http://economicconfidential.net/new/features/1344-towards-making-the-eastern-rail-line-functional-

FG Deploy Reliefs to refugees in Niger Republic, says NEMA 

Further to the humanitarian response of the Federal Government to communities affected by the security challenges in the North East zone of Nigeria, the National Emergency Management Agency (NEMA) has deployed relief assistance to the displaced Nigerians that fled into the nearby Republic of Niger to provide them with immediate succor. Read: http://economicconfidential.net/new/news/national-news/1350-fg-deploy-reliefs-to-refugees-in-niger-republic-says-nema-

For States News, please visit: http://economicconfidential.net/new/news/state-news

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.net

The Implications of 'State of Emergency' as Kwankwaso Invests on Education in Kano

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

The Implication of State of Emergency
The anticipated 'State of Emergency' has now been declared by President Goodluck Jonathan during his nationwide broadcast. The declaration came less than 24 hours after the Nigeria Governors Forum, led by Governor Rotimi Amaechi of River State cautioned the government from doing so. The states affected are Adamawa, Borno, and Yobe all in the Northeastern part of the country. Read: http://economicconfidential.net/new/features/1339-the-implication-of-state-of-emergency

Rising Poverty in Africa
Apparently, the extent of poverty striking in Africa has resulted to such social vices as high rate of prostitution, armed robbery, socio-political thugs, hooliganism, among young population.Read: http://economicconfidential.net/new/features/1337-rising-poverty-in-africa

Why we Declared The State of Emergency in 3 States
These terrorists and insurgents seem determined to establish control and authority over parts of our beloved nation and to progressively overwhelm the rest of the country. In many places, they have destroyed the Nigerian flag and other symbols of state authority and in their place, hoisted strange flags suggesting the exercise of alternative sovereignty. Read: http://economicconfidential.net/new/features/1338-president-jonathans-speech-declaring-state-of-emergency-adamawa-borno-and-yobe-

INTERVIEW: Why We Are Focused on Educational Investments in Kano- Governor Kwankwaso
The days are gone when somebody will have so many children, and just select few and throw away the remaining in the name of Quranic education without providing them food, clothes, nothing. That is not acceptable. Our Islamic schools incorporate western education to keep the pupils and students up to date. The knowledge and skills they will acquire will surely improve their standard of living, spiritually, socially and religiously as they can be useful to themselves and useful to their parents and the society. The current security challenge came due to lack of proper education and moral upbringing of our children we become undesirable elements.Read: http://economicconfidential.net/new/interviews/1312-why-we-are-focused-on-educational-investments-in-kano-governor-kwankwaso-

Obiageli Ezekwesili: The Proponent of Due Process
Obiageli Katryn Ezekwesili is generally regarded as honest, incorruptible, and fiercely faithful to genuine causes. She strongly believes in due process in every financial transaction. Read: http://economicconfidential.net/new/features/1313-obiageli-ezekwesili-the-proponent-of-due-process

FG spends N150bn on N'Delta amnesty – Sanusi
Federal Government of Nigeria has so far expended over $1 billion (N158 billion) on the Niger Delta Militants since the inception of the amnesty programme in 2009. Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, stated this at... Read: http://economicconfidential.net/new/financial/monetary/1325-fg-spends-n150bn-on-ndelta-amnesty-sanusi-

Polymer Currency: Waste, Deceit & Commonsense
The introduction of these imported N5, N10, N50 polymer notes in addition to the existing N20 note of same fabric, definitely ran counter to the canvassed merits of security and the cost effectiveness of committing billions of naira to upgrade the CBN-controlled Nigeria Mint and Security Company! Read: http://economicconfidential.net/new/features/1317-polymer-currency-waste-deceit-a-commonsense

Stemming the Boko Haram menace
Aside from its affront to and challenge of traditional and religious institutions, Boko Haram is also a threat to the intellectual and artistic community in northern Nigeria. If it has its way, modernity, westernisation and globalisation will be a thing of the past. Schools and intellectual pursuits will be curtailed – when none of these is curtailed in Iran, Iraq and in the United Arab Emirates. Read: http://economicconfidential.net/new/features/1316-stemming-the-boko-haram-menace

My Writings and Dr. Ngozi Okonjo-Iweala
Since my employment, I have published books, issued over 2000 news releases, wrote news features and personal opinion, all in my bid to promote the activities of government and contribute to the peaceful coexistence of the diverse groups in the country. Most of my writings are accessible on my blog: www.yashuaib.com. Read: http://economicconfidential.net/new/features/1321-my-writings-and-dr-ngozi-okonjo-iweala

For States News, please visit: http://economicconfidential.net/new/news/state-news

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.net

Real Oil Blocks Owners in Nigeria Revealed, as Tukur others to Generate 10,000MW in 2013

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Real Ownership of Indigenous Oil Blocks Revealed

Investigations also revealed that even among indigenous oil operators, northern shareholders/directors do not account/own 83 per cent of local oil output, as Enang's list left out several oil blocks that had been awarded over the years to Nigerian companies and failed to include oil concessions awarded from 1999 to date.A breakdown of oil leases granted operators showed that the total number of Oil Mining Leases (OMLs) in operation by December ending 2012 was 109, while Oil Prospecting Leases (OPLs) stood at 92. Read: http://economicconfidential.net/new/financial/facts-a-figures/1280-real-ownership-of-indigenous-oil-blocks-revealed

Hamman Tukur: From Revenue Mobilisation to Electricity Transmission

... To Generate 10,000 MW in 10months

To resolve the logjam, the administration has turned to tested and trusted power engineer, Hamman Tukur. He has just been sworn in to head the supervisory board of Transmission Company of Nigeria (TCN) given out to Manitoba Hydro International of Canada to manage. His appointment, Economic Confidential was told, is deliberate because of his antecedent as a go-getter in various institutions he had worked especially in the academia, electricity company, Petroleum Ministry and Revenue agency. Read: http://economicconfidential.net/new/profile/1276-hamman-tukur-from-revenue-mobilisation-to-electricity-transmission

On Okonjo-Iweala and Biafranization of Public Offices 

For those of us who still respect the Hon Minister of Finance and Economic Development, we strongly believe she should dissociate herself from current allegations of 'biafranization' of top public offices in Nigeria. We are in democratic government where policy issues should not be done in dictatorial manner of 'we-are-now-in-power'. Read: http://economicconfidential.net/new/features/1250-still-on-okonjo-iweala-over-controversial-appointments

Nigeria Realised $900m from Export of Cocoa in 2012 

The Minister of Trade and Investment, Olusegun Aganga has disclosed that Nigeria realised about $900m from the export of cocoa and cocoa products in 2012. Read: http://economicconfidential.net/new/news/national-news/1266-nigeria-realised-900m-from-export-of-cocoa-and-cocoa-products-in-2012

How Northerners Corner the Oil Blocks 

There should be caution in the definition and assignment of functions to the Minister because the need may arise in the future to split the functions and powers of the Ministry under the Petroleum Industry to 2 or 3 Ministers, even for gas, so that amendment of the Act may not then be necessary before it can be affected. Read: http://economicconfidential.net/new/features/1257-how-northerners-corner-the-oil-blocks

MDGs to Reduce Maternal Mortality

The Federal Government has adopted an initial strategy known as Millennium Development Goals Acceleration Framework to reduce the maternal mortality rate in the country to the barest minimum.Read: http://economicconfidential.net/new/news/national-news/1268-mdgs-to-reduce-maternal-mortality

FG inaugurates boards of SON, CAC, NEPC, OGFZA

…warns against interference with agencies' day-to-day operations

The Federal Government, has inaugurated the boards of Standards Organisation of Nigeria (SON), Corporate Affairs Commission (CAC), Nigerian Export Promotion Council (NEPC) and the Oil and Gas Free Zone Authority (OGFZA) and warned that their appointment is on part-time basis only. As such, they are not expected to interfere or participate in the todayto-day running of their respective agencies. Read: http://economicconfidential.net/new/news/national-news/1268-mdgs-to-reduce-maternal-mortality

President Jonathan's Transformation Agenda and Diversifying 

Jonathan's 5-year development plan 2011-2015, differs from others based on its being a well thought out policy document backed by a world class team of 28 technocrats under his personal Chairmanship and the coordination of the renowned Economist, Dr Ngozi Okonjo-Iweala. Read: http://economicconfidential.net/new/features/1248-president-jonathans-transformation-agenda-and-diversifying-nigerias-economy

Between Financialism and Progressive Capitalism 

Increasingly, few elite will grow wealthy and powerful beyond decent measure. The middle class will atrophy into non-existence while the vast pool of our citizens will be shackled to a lifetime of misery and sour destitution. Gone will be the chance of broad prosperity and economic justice. Fleeing with it will be the hope of political democracy. Read: http://economicconfidential.net/new/features/1258-between-financialism-and-progressive-capitalism

How They Share Billions of Naira Monthly

The monthly meeting of the Federation Account Allocation Committee has continued to dole out billions of Naira, and iin some cases trillions to the tiers of Government: Federal, Slates and Local Councils. For the details of February allocation which was in three different allocations (Statutory and VAT N724bn; Excess Oil Revenue Account N3.5bn; and NNPC Refund N7.6bn) see the tables of disbursements: http://economicconfidential.net/new/financial/facts-a-figures

The Mama in the Aso Villa 

In fact, while the likes of Reuben Abati and Doyin Okupe dithered for a while, before coming out to deny her hospitalisation, Mr. Ayo Osinlu, her personal media aide, vehemently rejected the ascription of ill health, to a woman he said was on a sightseeing trip to the insightful wonders of Deutschland. Read: http://economicconfidential.net/new/features/1256-a-mama-in-the-villa

Poverty Trap as Elite's Conspiracy

Nigerian elites are definitely in a very hot race of their lives to cover up their collective act of economic genocide that they have since the last five decades unleashed on an unprecedented scale on the citizenry by their unbridled quest to consistently corner our nation's commonwealth into their private pockets. Read: http://economicconfidential.net/new/features/1255-poverty-trap-as-elites-conspiracy

Nigeria approves rules for firms to issue Islamic bonds

Nigeria has approved new rules allowing companies to issue Islamic bonds, a move aimed at attracting Middle Eastern investors, Director General of Securities and Exchange Commission (SEC) told Reuters. Read: http://economicconfidential.net/new/news/national-news/1254-nigeria-approves-rules-for-firms-to-issue-islamic-bonds

Mitigating the Impacts of Global Warming on Biodiversity

The earth has hitherto witnessed series of atmospheric changes, among which is increasing global warming, which continues to wreak havoc among biological beings on the earth. Read: http://economicconfidential.net/new/features/1253-mitigating-the-impacts-of-global-warming-on-biodiversity

Analysis: Nigeria losing ground in changing oil world

The U.S. accounted for 35 percent of oil exports from Nigeria in 2011. But it imported around 40 percent less last year, taking purchases from Nigeria to their lowest in over 20 years, according to data from the Energy Information Administration (EIA), a U.S. government agency. Read: http://economicconfidential.net/new/features/1246-analysis-nigeria-losing-ground-in-changing-oil-world

Now, weapons of mass disruption 

Also in the first two months of year 2013, the five largest financial institutions have suffered denial of service attack. The financial impacts of these attacks have not been established. The cyber attack reached a credo when big corporations started releasing statements that they have been hacked. As at date, Washington Post, New York Times, Wall Street Journal (WSJ), Apple, Microsoft, Twitter, Facebook have all released statements on the attempted hacking. The incessant attack forced the U.S. president to issue executive order on cyber security to strengthen and protect the basic infrastructure. Read: http://economicconfidential.net/new/features/1249-now-weapons-of-mass-disruption

Economy and Reserves: Between the truth and government clarifications

Despite Okonjo-Iweala's tripartite classification of reserves, the process of consolidating both the excess crude and CBN's component of reserves remains hazy in public consciousness, as the Excess Crude Account unnecessarily accommodates increasing budget deficits and national debt! Paradoxically, such avoidable deficits are ultimately funded by borrowing at costs, which exceed such risk-free sovereign debts elsewhere. Read: http://economicconfidential.net/new/features/1247-economy-and-reserves-between-the-truth-and-government-clarifications

How to Drastically Reduce Unemployment

Nigeria's Minister of National Planning had declared that unemployment rate for 2011 stood at 23.9%; which translates to almost 40 million citizens. Another figure from the National Bureau of Statistics had indicated that over 70% of Nigerians live on a US$1 a day or less. These figures have actually been rolling over for decades to reach the monumental level they are today. Read: http://economicconfidential.net/new/features/1272-how-to-drastically-reduce-unemployment

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Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

Finally, Breakdowns of N10.8tr Allocation in 2012 as Youngest DG Emerges in Federal Service

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

For the Records: Breakdowns of Allocation of N 10.8 Trillion in 2012 from Federation Account
The Economic Confidential Magazine provides the detailed tables of allocations of 10.8 trillion to Federal, States and Local Governments in Nigeria, between January 2012 & December 2012 from the monthly disbursements from the Federation Account. The allocations were made from Statutory, VAT, 13% Derivation, Foreign Excess Crude Account, Refunds from NNPC, Exchange Gain Differentials and Occasional DOllarised Allocations. The Tables also provide some Deductions to service External Debts, Contractual Obligations and for distributions of Fertilizer. See the tables: http://www.economicconfidential.net/new/ECONS%20FAAC%20PDF.pdf

Chinelo Anohu-Amazu: Nigeria's Youngest DG in PENCOM
At 40, Mrs. Chinelo Anohu-Amazu, is unquestionably the youngest Director General in the entire federal public service in Nigeria. Anohu-Amazu who hails from Anambra, that state that has produced some of the best brains in Nigeria for both the public and private sectors, is currently the Acting Director General of the National Pension Commission (PENCOM). Read: http://www.economicconfidential.net/new/component/content/article/1236-chinelo-anohu-amazu-nigerias-youngest-dg-in-pencom

Mineral Sector to Create 3 Million Jobs by 2015
Born on February 25, 1957 in Katsina State, Architect Musa Mohammed Sada is Nigeria's Minister of Mines & Steel Development. In this interview with the Economic Confidential, he volunteered an insight into the roadmap for the development of Mineral and Metal Sector, recently launched by the ministry and what Nigerians should be expected from the ministry in the next two years. Read: http://www.economicconfidential.net/new/interviews/1243-mineral-sector-to-create-3-million-jobs-by-2015

N10.8 trillion 2012 revenues: Where is the evidence?
In this exclusive report, Economic Confidential reveals that even as it has become apparent that Nigeria may not meet any of the key points in the millennium development goals (MDGs) and the Debt Management office (DMO) and Central Bank of Nigeria (CBN) crowd out the private sector from the debt market, a large chunk of money accruing to the Federation Account is spent without consideration for value. Read: http://www.economicconfidential.net/new/news/national-news/1235-n108-trillion-2012-revenues-where-is-the-evidence

Govt Commits to MDGs Deadline
MDGs-Acceleration-FrameworkIn order to accelerate the attainment of all the eight United Nations Millennium Development Goals (MDGs), which deadline is in two years, the federal government has put all needed infrastructures in place. Read: http://www.economicconfidential.net/new/news/national-news/1242-govt-commits-to-mdgs-deadline

NEXIM-AfDB: Another Partnership for Competitive SMEs
The first line is $500 million to BOI and $200 million to NEXIM which AfDB believes will allow local SMEs to be more competitive, scale up their operations and ultimately create more jobs in Nigeria. The LoCs will include a technical assistance package to strengthen institutional capacity at both BOI and NEXIM as well as at their SME clients.Read: http://www.economicconfidential.net/new/news/national-news/1239-nexim-afdb-another-partnership-for-competitive-smes

Economic Confidential

Factual, Authoritative and Accesible

Nigeria's Economic Magazine

www.economicconfidential.com

Federation Account 2012: List of Richest and Poorest States in Nigeria as FIRS Nets N5tr

Latest from factual, authoritative and accessible economic magazine, the Economic Confidential. You can also join us on the Facebook http://www.facebook.com/economicconfidential,  http://www.facebook.com/economicmagazine and Linkedin: http://www.linkedin.com/in/economicconfidential  also Twitter : http://twitter.com/economicng

Federation Account: Richest and Poorest State beneficiaries in 2012

Between January and December 2012, Over N8 trillion was shared

Following a painstaking research, the always authoritative and factual Economic Confidential can now reveal that a total sum of N8.8 trillion was disbursed to tiers of Nigerian government from the Federation Account between January and December 2012 from the statutory and VAT allocations.  This amount excluded other allocations that were occasionally made to the states from Excess Crude Account, Domestic Crude Account, SURE-P, NNPC Refund and foreign exchange differentials. Akwa Ibom State appears to be the 'king of boys', coasting home with a princely N217bn followed by Rivers which received N177bn and Lagos N168bn in the 12 months of 2012. A table of allocation compiled by Economic Confidential shows Ebonyi State, Gombe State and Nassarawa State emerging the poorest states with total allocations of N45bn Gombe N48bn and  N49bn respectively. The table is also at the bottom of this mail. Read: http://economicconfidential.net/new/financial/facts-a-figures/1223-federation-account-2012-the-richest-and-poorest-state-beneficiaries-in-nigeria

 

Non-Oil Tax Hits N1.8Trillion as FIRS nets N5 trillion in 2012

The Federal Inland Revenue Service (FIRS) has continued to record steady increases in the collection of all the taxes under its remit. The Service closed the 2012 financial year with a total collection of N5.007trillion; N1.806 trillion (36.07 per cent) of which came from non-oil taxes. Oil taxes contributed N3.201 trillion (63.93 per cent and was N3.070 trillion in 2011. Read: http://economicconfidential.net/new/financial/tax-matters/1227-non-oil-tax-hits-n18trillion-as-firs-nets-n5-trillion-in-2012-

 

Nigeria 2012: A Year Full of Scandals

The year 2012 fulfilled its promise to be one of the most dramatic ever for Nigeria.  It was a year of scandals, financial and moral, culminating in the global anti-corruption body- Transparency International (TI) declaring Nigeria as the 37th most corrupt nation on the planet.  It was on the 139th position of the 176 countries polled. From that first day of the year, which was a Sunday when around noon, fuel stations stopped dispensing premium motor spirit(PMS) to adjust their metre from N65/litre to between and N143/litre across the country, there was never a dull month or week in the next 365 days. It was a leap year too.

Read: http://economicconfidential.net/new/news/national-news/1222-sanya-adejokun

 

Maku Attacks Ezekwesili on Squandering of $67bn Crude Reserves

Nigeria's Minister of Information, Mr. Labaran Maku has debunked claims by a former Minister of Education and erstwhile World Bank Vice-President for Africa, Mrs. Obiageli Ezekwesili that the governments of Presidents Musa Yar'adua and Goodluck Jonathan have squandered $67 billion in reserves (including $45 billion in external reserves and $22 billion in the Excess Crude Account) left by the Obasanjo Administration at the end of May 2007 describing the allegations as factually incorrect. Read: http://economicconfidential.net/new/news/national-news/1229-maku-attacks-ezekwesili-on-squandering-of-67bn-crude-reserves

 

Pension Reform: 21 States Pass the Law as PenCom Opens Lagos Office

So far 21 states in the federation have passed the Pension Reform bill, which has as its flagship, the Contributory Pension Scheme (CPS). Already 14 of the states have commenced processing leading to the passage of the bill while 7 states have started contributions under the Contributory Pension Scheme.  One State is yet to make any effort towards adopting the Pension Reforms. Read: http://economicconfidential.net/new/news/national-news/1228-pension-reform-21-states-pass-the-law-as-pencom-opens-lagos-office

 

Doha Paperless Global Conference on Climate change

With the latest technology, key information were accessible with the use of two-dimensional "Quick Response" (QR) barcodes that could be scanned by smart phones to gain access to relevant documents, maps and websites in a quick, simple and paper-free way. At the Qatar Sustainability Expo, which ran alongside the conference, exhibitors were encouraged to display QR codes that link to PDF documents instead of handing out literature. Read: http://economicconfidential.net/new/features/1199-doha-paperless-global-conference-on-climate-change

 

Any Hope for the Naira?

At the conclusion of the 2012 IMF/World Bank Group Annual Meetings in October, the Central Bank Governor, Sanusi Lamido Sanusi, decried the dollarization of the Nigerian economy to some Nigerian journalists, who were sponsored to that event in Japan. According to the Governor, his anxiety was equally shared by President Goodluck Jonathan. Read: http://economicconfidential.net/new/features/1216-any-hope-for-the-naira

 

Learning From The World's 'Poorest' President

I have been reading the story of President Jose Mujica — the leader of Uruguay (please note the word "LEADER") and I find it to be a singular example of humility, sacrifice and an uncommon disdain for all worldly material and other acquisition. In my opinion, this is a leader who may be worthy of emulation by our so-called leaders in Nigeria, and indeed, in Africa. Read: http://economicconfidential.net/new/features/1219-learning-from-the-worlds-poorest-president

 

 

Federation Account: Richest and Poorest State beneficiaries in 2012

Following a painstaking research, the always authoritative and factual Economic Confidential can now reveal that a total sum of N8.8 trillion was disbursed to the three tiers of Nigerian government from the Federation Account between January and December 2012 from the statutory and VAT allocations.

 

This amount excluded other allocations that were occasionally made to the states from Excess Crude Account, Domestic Crude Account, SURE-P, NNPC Refund and foreign exchange differentials.

 

But a careful scrutiny of the detailed disbursements showed also that the states can be conveniently categorized into the 'boys and men's clubs' with a few of the states taking hundreds of billions, others taking a little less and the majority going home with 'paltry' amounts.

 

Akwa Ibom State appears to be the 'king of boys', coasting home with a princely N217bn followed by Rivers which received N177bn and Lagos N168bn in the 12 months of 2012.

 

A table of allocation compiled by Economic Confidential shows Ebonyi State, Gombe State and Nassarawa State emerging the poorest states with total allocations of N45bn Gombe N48bn and  N49bn respectively .

 

The allocation to the states included the share to their respective local government councils which they cornered since almost all the funds to the councils are controlled by governors who determine the administrators at the third tiers of government.

 

 It is instructive to point out also that this amount was solely from the federation account as none of the states contributed to their individual earnings from their internally generated revenue. The receipt came mostly from oil revenue, customs duties and VAT receipt.

 

The disparity in the allocations to the states came as a result of the indices developed by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) upon which the monthly disbursements are made by the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of State for Finance.

 

The indices include population, land mass, derivation, equality, internally generated revenue and other social development factors like school enrolment, hospital beds and road networks.

Federation Account: Net Statutory and VAT Allocations in 2012

STATE	LG/A	January	February	March	April	May	June	July	August	September	October	November	December	TOTAL
														SUMS RECEIVED
		=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=	=N=
ABIA	17	4,758,564,148.67	4,408,232,565.75	5,038,237,105.46	6,264,136,086.96	5,593,846,967.38	5,628,739,377.83	5,317,099,235.15	5,188,559,421.55	5,288,456,580.56	5,383,666,774.58	5,847,846,415.03	5,247,310,708.23	63,964,695,387.15
ADAMAWA	21	5,572,047,304.79	4,615,234,851.91	5,117,710,577.40	6,223,117,436.14	6,079,969,957.40	6,285,296,872.65	5,959,508,976.26	5,897,517,248.67	5,719,651,135.46	5,758,195,182.35	6,379,129,165.36	5,663,585,224.72	69,270,963,933.11
AKWA IBOM	31	17,090,390,049.54	14,501,984,752.14	16,958,970,155.44	21,391,853,737.12	19,461,318,153.62	20,928,879,033.99	17,582,886,495.00	18,143,836,096.44	17,343,591,156.49	17,613,595,922.82	19,372,147,831.92	17,386,735,501.55	217,776,188,886.07
ANAMBRA	21	5,664,149,073.87	5,198,261,741.16	5,733,101,435.25	6,843,627,377.80	6,151,611,034.98	6,424,732,941.76	6,096,359,113.62	5,970,418,369.97	5,828,657,111.69	5,818,736,995.11	6,484,782,729.75	5,754,484,837.15	71,968,922,762.11
BAUCHI	20	6,248,058,559.68	5,373,694,204.19	5,995,642,147.57	7,278,245,672.89	6,818,964,974.07	6,976,754,162.94	6,803,077,337.10	6,689,317,496.28	6,417,673,382.59	6,509,970,869.19	7,243,864,150.26	6,399,571,510.49	78,754,834,467.25
BAYELSA	8	9,390,046,065.24	8,666,077,450.88	9,580,367,049.81	10,929,217,737.24	9,837,979,745.53	10,553,076,701.81	8,576,305,792.09	9,334,128,899.16	8,599,034,244.58	9,821,665,449.01	10,895,116,283.71	9,560,128,612.61	115,743,144,031.67
BENUE	23	5,871,570,223.72	5,370,631,333.75	5,919,793,980.14	7,155,664,985.65	6,408,173,594.32	6,660,567,453.25	6,296,362,759.23	6,175,181,747.41	5,996,771,322.33	6,045,162,147.73	6,755,455,669.75	5,948,505,883.64	74,603,841,100.92
BORNO	27	6,958,687,073.61	6,014,675,765.38	6,626,720,935.46	8,013,209,121.07	7,525,956,177.25	7,897,033,297.88	7,487,819,717.74	7,273,018,007.79	7,077,523,173.10	7,139,161,988.91	7,911,376,587.17	7,011,941,619.70	86,937,123,465.06
CROSS RIVER	18	5,140,319,877.82	4,678,662,052.62	5,145,025,433.10	6,218,604,214.55	5,645,032,392.27	5,918,826,794.90	5,546,259,371.92	5,117,698,852.04	4,981,417,115.20	4,983,352,161.34	5,577,798,385.07	4,941,579,290.91	63,894,575,941.74
DELTA	25	14,052,600,292.70	12,873,939,530.73	13,678,770,630.64	17,769,881.42	15,401,000,691.02	15,412,606,232.20	13,112,652,613.28	14,275,428,744.02	13,243,181,932.57	14,427,191,487.69	15,959,433,109.22	13,597,496,499.70	156,052,071,645.19
EBONYI	13	3,527,559,507.11	3,168,530,502.31	3,573,177,875.57	4,379,008,118.56	3,905,441,160.54	4,074,244,487.77	3,836,352,285.71	3,749,303,857.64	3,639,555,879.90	3,704,834,730.54	4,163,690,918.83	3,614,257,334.01	45,335,956,658.49
EDO	18	5,299,415,325.66	4,769,061,196.41	5,485,920,279.74	6,714,443,296.71	5,849,489,569.37	6,227,858,717.96	5,745,735,325.55	5,568,802,381.10	5,467,459,768.08	5,524,033,521.48	6,110,620,813.89	5,406,200,237.29	68,169,040,433.24
EKITI	16	3,941,497,668.95	3,481,465,944.23	3,872,518,627.98	4,723,008,032.97	4,319,228,060.74	4,522,284,910.06	4,270,631,760.50	3,979,402,774.40	4,088,294,261.96	4,104,612,747.86	4,598,763,592.10	4,401,338,126.47	50,303,046,508.22
ENUGU	17	4,914,239,021.94	4,475,994,970.97	4,977,203,976.74	5,955,672,031.18	5,312,237,765.70	5,561,892,142.10	5,272,816,925.05	5,161,450,809.43	5,037,924,581.76	5,076,732,225.05	5,728,842,408.89	5,073,477,316.21	62,548,484,175.02
GOMBE	11	4,269,824,461.69	2,902,879,864.38	3,740,111,691.77	4,577,955,080.51	4,198,795,458.55	4,414,722,181.35	4,167,608,583.06	4,092,367,050.78	3,965,854,287.92	4,066,925,239.68	4,488,112,630.74	3,865,767,862.04	48,750,924,392.47
IMO	27	6,138,603,846.12	5,504,163,640.48	6,113,855,976.80	7,337,802,527.68	6,601,505,876.91	7,006,027,915.56	6,496,102,256.85	6,492,863,582.91	6,193,311,715.86	6,318,659,898.43	7,026,542,903.79	6,180,669,164.46	77,410,109,305.85
JIGAWA	27	6,453,736,007.11	5,674,027,731.63	6,320,504,491.35	7,600,171,105.95	6,980,572,683.17	7,349,715,080.50	6,971,695,453.18	6,802,996,526.52	6,730,637,263.37	6,680,144,380.57	7,462,156,995.83	6,568,665,773.79	81,595,023,492.97
KADUNA	23	6,929,407,647.90	6,321,555,963.51	7.036,390,556.11	8,456,771,976.72	7,571,547,971.29	7,860,537,783.15	7,441,493,447.08	7,268,543,312.80	7,072,264,868.76	7,136,312,350.48	7,959,471,595.66	7,028,809,134.09	81,046,716,051.44
KANO	44	10,276,388,104.37	9,062,753,946.73	10,070,783,320.18	12,096,748,562.66	11,287,574,037.94	11,669,141,205.76	10,979,348,704.92	10,875,208,337.93	10,575,297,804.89	10,676,882,753.35	11,905,713,584.48	10,529,474,269.92	130,005,314,633.13
KATSINA	34	7,613,284,263.49	6,986,742,406.02	7,718,329,639.17	9,226,525,319.59	8,240,033,601.43	8,640,273,286.86	8,195,031,277.34	8,017,209,281.21	7,819,801,189.22	7,879,138,810.56	8,739,469,909.70	7,747,496,693.31	96,823,335,677.90
KEBBI	21	5,504,810,878.47	4,594,016,576.85	5,142,248.450.38	6,240,653,854.04	6,001,409,926.99	6,237,394,533.19	5,913,639,990.28	5,814,101,905.51	5,695,686,879.73	5,774,259,644.48	6,358,026,643.26	5,662,637,825.30	63,796,638,658.10
KOGI	21	5,637,015,173.29	4,864,221,997.69	5,466,010,286.25	6,581,099,473.72	6,069,915,065.61	6,339,704,089.26	6,011,472,625.84	5,900,649,869.52	5,753,877,168.90	5,800,152,620.10	6,447,202,736.90	5,693,487,156.56	70,564,808,263.64
KWARA	16	4,562,241,098.89	4,160,424,901.59	4,584,240,397.26	5,528,091.00	4,944,001,871.67	5,177,716,187.36	4,899,179,056.04	4,811,537,132.29	4,657,039,132.80	4,710,590,749.16	5,245,220,557.52	4,635,744,434.96	52,393,463,610.54
LAGOS	20	13,832,390,342.50	12,722,644,397.44	13,576,871,174.54	15,246,402,088.78	14,321,920,816.13	14,490,935,168.28	13,949,887,711.70	13,299,806,579.01	14,364,278,657.68	13,805,196,576.78	15,714,827,856.62	13,363,205,837.54	168,688,367,207.00
NASSARAWA	13	3,824,226,264.56	3,499,461,977.72	3,871,770,353.46	4,705,203,914.44	4,211,203,056.04	4,422,491,151.29	4,176,648,491.84	4,088,571,627.73	3,970,950,320.01	4,027,906,795.90	4,495,686,299.73	3,968,257,623.21	49,262,377,875.93
NIGER	25	6,264,321,638.72	5,513,468,599.81	6,131,945,424.97	7,526,804,700.31	6,865,350,935.27	7,192,040,821.80	6,799,186,246.20	6,681,177,747.63	6,484,357,396.40	6,569,941,250.47	7,302,593,683.46	6,416,754,510.60	79,747,942,955.64
OGUN	20	5,443,106,383.34	4,965,868,976.55	5,471,710,105.39	6,533,027,304.14	5,889,975,852.32	6,164,994,151.54	5,850,763,142.01	5,699,431,453.29	5,584,107,210.62	5,611,375,108.08	6,238,729,710.25	5,522,870,368.16	68,975,959,765.69
ONDO	18	6,648,009,990.75	5,161,769,267.04	5,869,107,250.89	7,570,765,629.47	6,824,980,155.69	7,105,289,386.95	6,530,343,233.96	6,418,767,351.94	6,291,119,818.54	6,461,553,676.03	7,182,904,778.58	6,351,747,732.63	78,416,358,272.47
OSUN	30	5,840,929,898.96	5,340,765,474.69	5,845,843,257.81	6,990,988,255.94	6,289,576,703.23	6,546,281,743.52	6,208,029,901.62	6,108,400,167.50	5,952,796,881.09	5,260,785,935.78	6,277,157,850.79	5,539,233,857.71	72,200,789,928.64
OYO	33	7,309,439,923.19	6,688,835,474.81	7,380,103,860.29	8,832,656,886.28	7,981,572,676.36	8,361,764,189.72	7,931,997,264.09	7,797,842,506.71	7,590,883,170.44	7,641,994,446.64	8,490,045,231.82	7,517,548,249.25	93,524,683,879.60
PLATEAU	17	5,013,269,399.52	4,737,563,528.32	5,215,441,533.63	6,241,851,815.88	5,595,979,416.36	5,839,478,563.65	5,536,670,174.61	5,444,47,395.24	5,280,544,635.63	5,367,431,555.82	5,934,726,329.51	5,227,338,743.95	59,990,295,696.88
RIVERS	23	16,470,910,460.91	15,482,451,431.81	17,447,531,646.29	20,803,252,598.16	18,591,315,262.66	17,613,798,488.29	10,451,273,657.66	13,933,773,545.70	12,551,713,580.02	14,411,332,721.74.	17,767,803,801.78	16,374,436,643.89	177,488,261,117.17
SOKOTO	23	5,913,159,584.08	5,196,906,502.32	5,733,627,836.71	6,903,704,516.37	6,397,762,519.71	6,653,730,674.51	6,308,746,749.77	6,218,179,118.90	6,060,170,709.98	6,098,875,374.33	6,800,830,703.16	6,027,338,600.44	74,313,032,890.28
TARABA	16	5,118,499,073.35	4,671,663,685.26	5,135,000,693.16	6,162,107,819.64	5,532,363,511.21	5,836,808,637.04	5,533,769,024.65	5,373,366,912.21	5,238,810,777.73	5,287,901,020.33	5,857,994,395.55	5,186,061,152.74	64,934,346,702.87
YOBE	17	5,035,313,599.48	4,503,089,253.58	5,023,301,492	6,035,436,831.95	5,451,169,278.29	5,642,836,429.16	5,345,323,371.01	5,274,440,070.95	5,136,601,679.13	5,198,400,435.69	5,777,170,228.88	5,135,354,182.99	63,558,436,853.11
ZAMFARA	14	4,260,988,409.00	3,625,332,194.27	4,509,782,177.75	5,501,296,924.81	4,975,210,514.35	5,203,722,696.46	4,911,745,437.08	4,840,722,618.23	5,059,832,059.38	5,117,875,727.37	5,668,950,896.99	5,043,499,429.73	58,718,959,085.42
FCT-ABUJA	6	1,380,731,938.44	1,331,819,874.67	1,639,439,047.74	1,818,177,723.53	1,447,687,718.09	1,609,927,192.81	1,552,804,318.12	1,509,983,595.46	1,729,267,403.76	1,793,751,242.41	1,762,973,102.52	1,554,021,384.60	19,130,584,542.15
STATES-TOTAL	774	248,169,752,581.40	221,108,874,529.60	246,747,110,875.08	298,377,508,731.83	270,581,675,153.44	280,452,124,685.11	254,066,627,828.04	252,915,526,016.86	248,488,396,258.12	253,608,300,517.83	283,933,180,488.47	250,787,033,334.54	3,109,236,111,000.32
FGN		194,116,402,411.09	173,486,116,867.01	189,901,136,866.77	234,030,560,867.09	207,805,172,672.35	218,348,419,012.23	205,591,934,974.04	204,120,025,454.91	194,162,268,587.64	198,532,972,055.71	219,155,310,919.10	191,123,835,156.65	2,430,374,155,844.59
FCT-ABUJA		4,122,300,811.27	3,583,612,233.15	3,952,807,336.14	4,816,510,610.56	4,438,709,760.45	4,645,560,761.98	4,392,672,681.85	4,327,031,064.37	4,180,033,000.95	4,235,944,434.75	4,693,948,151.41	4,137,236,422.19	51,526,367,269.07
Cost of Collection-NCS		2,762,862,887.18	2,162,338,981.65	2,731,141,205.39	2,843,674,675.34	2,501,571,116.53	2,893,209,756.77	3,231,985,300.49	2,750,801,665.94	2,903,058,390.59	2,756,443,860.85	2,781,893,867.14	2,932,087,518.95	33,251,069,226.82
Transfer to Excess Crude		236,736,184,265.22	224,313,101,757.06	300,417,238,235.90	173,927,730,468.34	180,637,892,010.74	86,390,581,219.22	207,885,982,423.99	213,100,953,834.03	124,092,437,058.06	140,703,015,465.38	172,505,276,248.55	161,591,536,142.37	2,222,301,929,128.86
4% Cost of collection-FIRS VAT		4,193,057,323.01	3,792,809,359.17	3,856,211,080.69	4,461,055,529.15	4,259,500,111.28	4,846,828,760.41	9,867,240,027.62	7,741,458,834.43	5,280,130,667.98	4,297,770,707.85	5,497,160,111.64	4,281,960,935.30	62,375,183,448.53
TOTAL DEDUCTION		14,375,030,964.92	21,118,227,695.93	19,775,424,88.57	20,035,636,880.08	15,633,228,021.12	15,904,886,766.14	49,075,908,349.14	49,062,428,481.17	46,215,774,645.56	46,909,865,475.54	15,711,972,672.90	17,328,734,519.37	311,371,694,471.87
Transfer to Excess Oil Revenue		0	7,617,431,250.00	0	289,111,442.81	0	25,903,967,173.60	88,659,866,889.34	60,276,130,307.86	0	7,617,431,250.00	1,254,853,469.76	0	191,618,791,783.37
Transfer from Excess Domestic to Subsidy		70,980,048,141.58	70,000,000,000.00	60,000,000,000.00	50,000,000,000.00	0	0	0	85,012,641,515.30	0	0	0	0	335,992,689,656.88
Pyt of o/standing crude debt		7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	7,617,431,250.00	91,409,175,000.00
GRAND TOTAL		783,073,070,635.66	727,182,512,673.57	834,998,501,638.43	796,399,220,455.20	693,475,180,095.92	647,003,009,385.46	830,389,649,724.52	886,924,428,424.87	632,939,529,858.91	658,661,743,767.92	713,151,027,178.97	639,799,855,279.37	8,843,997,729,118.80

Table by the Economic Confidential magazine

 

Economic Confidential

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