FAAC shares N53.5bn to FIRS, Customs, NUPRC as November Revenue Collection cost »

Three Federal Government revenue-generating agencies received N53.49 billion for the cost of revenue collection in November.

The National Bureau of Statistics disclosed this in its recent breakdown of November 2023 Federation Account Allocation Committee, FAAC, disbursement.

Accordingly, the report showed that the Nigeria Customs Service, NCS, Federal Inland Revenue Service, FIRS, and Nigerian Upstream Petroleum Regulatory Commission, NUPRC, received N16.38 billion, N24.59 billion, and N12.52 billion, respectively, as cost of revenue collections.

Meanwhile, DAILY POST reports that the 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.