Tag: budget funding

  • Enugu sets N870bn IGR target for 2026 as agencies are told to ramp up collections

    Enugu sets N870bn IGR target for 2026 as agencies are told to ramp up collections

    In a report by ThisDay, Enugu Governor Peter Mbah set an N870 billion internally generated revenue target for 2026, urging MDAs to intensify revenue mobilisation amid global uncertainty.

    The target is positioned as a core funding pillar for the state’s programme, implying stronger compliance drives, more automation, and broader clarity on what qualifies as collectible revenue.

    The funding mix also points to the continuing role of FAAC allocations and capital receipts, but with IGR expected to carry a heavier share of budget ambition.

    If pursued aggressively, the tension will be balancing expansion of the tax net with maintaining a business-friendly environment that doesn’t choke SMEs and investment.

    The Guardian noted the governor’s funding mix includes “N870 billion IGR” alongside other streams, while The Sun also reported the same direction around the N870bn target tied to the 2026 budget framework.

    Echotitbits take: Enugu’s ambition is plausible only with digitised collections, fewer leakages, and clearer taxpayer services. Watch reforms in land administration, transport levies, and business licensing—the fastest IGR accelerators and the most abused if not controlled.

    Source: The Punch – https://punchng.com/mbah-urges-agencies-to-boost-revenue-meet-budget-target/ January 7, 2026
    The Punch  January 7, 2026

    Photo Credit: The Punch

  • FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    PunchNG (illustrative image)
    2025-11-01

    From a Federal Ministry of Finance update, FAAC shared ₦2.094 trillion as federation allocation for October 2025, drawn from a gross total of ₦2.934 trillion.

    Monthly FAAC inflows shape state liquidity, wage payments, and capital spending, while also reflecting swings in oil receipts, VAT and other revenue lines.

    The breakdown highlights why fiscal planning remains sensitive to revenue volatility.

    Vanguard: “distributed a total of N2.094 trillion…”

    TheCable: “shared… N2.09 trillion for October.”

    Analysis/Echotitbits take: Volatility remains the headline risk. Watch how non-oil reforms affect VAT and statutory inflows, and whether states publish clearer spending outcomes tied to FAAC receipts.

    Source: Federal Ministry of Finance (Nigeria) — November 01, 2025 (https://finance.gov.ng/fg-states-lgcs-share-n2-094-trillion-from-a-gross-total-of-n2-934-trillion-for-the-month-of-october-2025/)