In light of last weeks uninspiring GDP numbers, I woke up thinking about how well the FG was doing with regards to its non-oil revenue generation. Now I do not have contacts at the ministry of finance but given that the FAAC has to distribute money to states every month there should be some information there. The reports are kind of vague with respect to the actual sources of revenue but luckily the VAT receipts are in there.
How much has VAT receipts changed? Apparently not so much….yet.
For good measure I included what the average monthly VAT receipts have to be to meet up with the budget projections. If the FIRS meets those projections then we should give Fowler a new title; magician general of the federation. Seriously.
This, of course, is in the context of an economy that is not growing. No word in changes to customs revenue yet and the CIT will probably have to be observed on an annual basis not monthly.