FG, States, LGA To Share More Cash, As Government Targets N20.69 Trillion In The - Politics - Nairaland
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| FG, States, LGA To Share More Cash, As Government Targets N20.69 Trillion In The by Newsfash: 3:37pm On Oct 21, 2023 |
FG, States, LGA To Share More Cash, As Government Targets N20.69 Trillion In The Net Federation Account. Federal government is targeting that corporate Nigeria will earn a combined gross operating profit of N9.3 trillion in 2024 and from there will be able to generate a company’s income tax revenue of N3 trillion in 2024 up from N1.9 trillion budgeted for 2023...Continue Reading This was contained in the Medium Term Expenditure framework released by the federal government during the week. The government also targeted a total of N20.69 trillion in the Net Federal Account revenue pool, which is money divided up between the FG, States, LGA, National Assembly, and Judiciary. federal government is targeting that corporate Nigeria will earn a combined gross operating profit of N9.3 trillion in 2024 and from there will be able to generate a company’s income tax revenue of N3 trillion in 2024 up from N1.9 trillion budgeted for 2023. This was contained in the Medium Term Expenditure framework released by the federal government during the week. The government also targeted a total of N20.69 trillion in the Net Federal Account revenue pool, which is money divided up between the FG, States, LGA, National Assembly, and Judiciary. “The CIT projections are based on estimated nominal GDP, Companies’ Profitability Ratio, and a further improvement in collection efficiency.” “The Gross Operating Profits of firms for which CIT forecast was derived is assumed to average N9.3 trillion for 2024, 10.6 trillion for 2025 and 11.2 trillion for 2026, after adjusting for firms in the informal sector.” “Estimates were derived taking into consideration significant growth of domestic economic activities as well as the effective implementation of the National Development Plan 2021-2025.” “Other important assumptions include significant improvement in the Nigerian business and investment environment and successful broadening of the tax net. More importantly, the historical growth in the volume of online transactions is expected to be sustained.”. Click Below Link To Read Full Details: https://rovingupdates.com/fg-states-lga-to-share-more-cash-as-government-targets-n20-69-trillion-in-the-net-federation-account/ |
| Re: FG, States, LGA To Share More Cash, As Government Targets N20.69 Trillion In The by mrvitalis(m): 3:41pm On Oct 21, 2023 |
Less than $20 billion in fact around $18 billion per year for 200 million people There are more than 2000 companies that make that in a year... This is sad sha very very very sad This is actually the best our leaders can do? Well when we keep electing leaders who have built nothing like Tinubu... Baba had no company valued at 50 million as ar 1999 Shettima is a mere regional manager for a bank Akpabio was a struggling lawyer Our minister of finance was a mere banker abroad These men built nothing absolutely nothing to their name.... How then can we expect them to build something for us |
| Re: FG, States, LGA To Share More Cash, As Government Targets N20.69 Trillion In The by CodeTemplar: 3:49pm On Oct 21, 2023 |
The money has never been the issue but how it is used. Is it used to aid productivity and thus standard of living, or it us used to grease palms and enjoy around the world? |
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