Nigeria’s revenue-collection agencies—the Federal Inland Revenue Service (FIRS), Nigeria Customs Service (NCS) and Nigerian Upstream Petroleum
Nigeria’s revenue-collection agencies—the Federal Inland Revenue Service , Nigeria Customs Service and Nigerian Upstream Petroleum Regulatory Commission —shared the sum of N214.29 billion as the cost of revenue collection in the first quarter of 2024.
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.” This 100.18 per cent rise suggests enhanced revenue collection activities, likely driven by improved border control measures or a surge in import and export activities.
On its part, the NUPRC saw the most dramatic rise, with its cost of collection increasing by 230.68%, from N16.34 billion in Q1 2023 to N54.05 billion in Q1 2024. February’s total collection cost was N66.46 billion this year, a 142.16% increase from N27.45 billion in February of the previous year. The agencies continued their efforts to improve revenue collection and compliance.
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