Nigeria’s revenue-collection agencies—the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC)—shared the sum of N214.29 billion as the cost of revenue collection in the first quarter of 2024.
An Abuja-based think tank, Agora Policy, had earlier reported that the N43 billion cost of collection received by the FIRS in January exceeded what each state got from the Federal Account Allocation Committee (FAAC) revenue.
According to the Agora report, the issue with the cost-of-collection arrangement is not just the agencies collecting more revenue, but the disproportionate allocation at the expense of states facing numerous challenges.
The report read: “The agencies are getting more allocations at the expense of others, including states and zones that have a high number of citizens to cater for and a slew of challenges to tackle.”
Analysis of the FAAC disbursements reports,…
Source: Guardian Newspaper
