Financial Energy Review
Data from the National Bureau of Statistics (NBS) has shown that revenue-generating agencies, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) received N53.49 billion for the cost of revenue collection in November 2023.
The November 2023 Federation Account Allocation Committee (FAAC) disbursement, the NBS in its latest publication said, saw NUPRC receiving N12.52 billion of the total sum.
It further indicated that the Nigeria Customs Service (NCS) and the Federal Inland Revenue Service (FIRS) got N16.38 billion and N24.59 billion respectively as cost of revenue collections.
However, allocations to the three tiers of government for November 2023 included: federal government (N323.35 billion), states (N307.72 billion), and local governments (N225.21 billion).
On the other hand, N50.67 billion was shared among the oil-producing states, which are Abia, Akwa Ibom, Anambra, Bayelsa, Delta, Edo, Imo, Ondo, and Rivers as the 13 per cent derivation fund.
“FAAC disbursed the sum of N1.35 trillion to the three tiers of government in November 2023 from the total revenue generated in October 2023.
“The revenue generating agencies comprising NCS, FIRS, and NUPRC) received N16.38 billion, N24.59 billion, and N12.52 billion respectively, as cost of revenue collections,” the NBS report said.
