•Advocates direct government funding
Emmanuel Addeh in Abuja
Agora Policy, a Nigeria-based non-profit think tank yesterday argued that current “cost of collection” approach to revenue collection, where some agencies of government receive a percentage of the revenues they collect on behalf of the federation, was no longer practicable.
In its latest policy paper titled: “Why Nigeria’s Cost-of-Collection Approach is no Longer Tenable”, the Waziri Adio-led organisation, maintained that some agencies were getting more funds than some states, an anomaly in a federation.
Specifically, these costs that are deducted at the monthly meetings of the Federation Accounts Allocation Committee (FAAC), Agora Policy pointed out, are now riddled with all sorts of problems.
At the moment, it said the cost of collection applies to three agencies: The Federal Inland Revenue Service (FIRS), which receives 4 per cent of non-oil revenues; the Nigerian Upstream…
Source: Thisday Newspaper
