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Home Economy

Fed Govt earns N109.6tr non-oil revenue

Business 360 by Business 360
June 9, 2023
in Economy
0
Nigeria needs $2.3tn to address infrastructure deficit-FG

Nigeria earned N109.6 trillion from non -oil tax in 12 years, according to the National Bureau of Statistics (NBS) report contained in a document entitled: “Tax -To- GDP Ratio.”

The report noted that in the period between 2010 and 2021, the country also earned N25.1tr from oil tax. NBS said in 2010, Nigeria collected N6.8tr, N9.4 trillion in 2011, and N8.4tr in 2012 non- oil taxes.

According to NBS, non-oil tax earned the country earned N9.2 trillion in 2014, it collected N7.8 trillion in 2015, and N7.1 trillion in 2016. The document said non-oil taxes earned the country N8.7 trillion in 2017, N10.6 trillion I’m 2018, and N12.5 trillion in 2019.

It also said Nigeria earned N11.1 trillion from and N11.1 trillion in 2020 and N16.7 trillion in 2021oil taxes. From the oil taxes, NBS said in 2010, Nigeria earned N1.4 trillion, in 2011 it earned N3.1tr, and N2.6tr in 2013.

The report said the country collected N2.4tr from oil taxes in 2014, and also N1.4 trillion, and N1.2tr in 2015 and 2016 respectively. NBS added that in 2017, Nigeria earned N1.5 trillion, N2.5 trillion in 2018, and N2.1 trillion in 2019 from oil taxes.

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