Tags : Revenue

Insurance Companies Earned N2.7tn In Six Years

The National Insurance Commission has disclosed that  insurance companies in Nigeria earned N630.36bn premium in 2021. The Head, Corporate Communications and Market Development,, Rassaq Salami, disclosed this in its unaudited result for 2021 saying that this was a rise from the audited figure of N514bn premium earned in 2020. NAICOM said the total asset of […]Read More

NIMASA Paid N37.69bn In 2021

THE Nigerian Maritime Administration and Safety Agency has contributed N37.69 billion to the Consolidated Revenue Fund (CRF) in 2021. NIMASA Director-General Bashir Jamoh said that the N37.69 contribution was higher than N31.83 billion contributed by the agency in 2020. “In 2020, the agency contributed to the consolidated revenue account by paying N31,839,917,978.20k. We went ahead […]Read More

FIRS Generates N6.4 trillion Revenue In 2021

The Federal Inland Revenue Service raked in ₦6.4 trillion as revenue in 2021. The agency said, the highest in its history surpassing the ₦5.3 trillion generated in 2019 when Babatunde Fowler was the head.  FIRS chairman Muhammad Nami said in a statement that despite the limitations faced in 2020/2021, the agency surpassed its collection target. […]Read More

Nigeria Loses N2.8tn Independent Revenue In Six Years

Nigeria has recorded a shortfall of N2.8 trillion in independent revenue from the federal government revenue generating agencies between 2015 and 2020. An analysis of data from the Budget Office has shown that over the years, many of these agencies have been underpaying revenue into the coffers of the Federal Government, thus making it difficult  […]Read More

Nigeria’s Revenue Falls By 52% In August

The Central Bank of Nigeria said in its economic report the Federal Government recorded a fiscal deficit of N405.28bn in August with aggregate expenditure of N781.61bn while retained revenue stood at N376.33bn. The report said independent revenue fell by 52.2 per cent in August which led to a 10.4 percent decline in the government’s retained […]Read More

Customs Target N2tn Annual Revenue

The Nigeria Customs Services is proposing to generate N2 trillion this year. Of this amount expected to be made, the South-West geopolitical zone would generate N1.6 trillion. According to a report, the NCS generates about 80 percent of its annual revenue from Lagos, Ogun, Ondo and Oyo states. Data obtained by SHIPS and Ports from […]Read More

Gencos Lose N1.66tn In Seven Years

Nigeria’s power generation companies have suffered a loss of N1.66 trillion in seven years as a result of non-payment for deemed capacity. The Executive Secretary, Association of Power Generation Companies, the umbrella body for the Gencos, Dr Joy Ogaji, disclosed this at a stakeholders’ meeting on the Regulators Monitoring Programme on electricity organised by the […]Read More

In Three Months, Discos Lose N97bn To Energy Theft, Others

In the first quarter of this year, the electricity distribution companies lost a total of N97 billion to energy theft, capping of estimated billing and other factors. The Association of Nigerian Electricity Distributors, the umbrella body for 10 of the 11 Discos in the country, said the amount lost by the power firms rose by […]Read More

FIRS Generates N3.3tr From Non-oil Export

In a statement by the Federal Inland Revenue Service, Nigeria has generated N4.2 trillion revenue so far this year. This is about N3.3 trillion, that is over 77 per cent of the total collection, came from the non-oil sector. FIRS Chairman, Muhammad Nami, stated that “to address the issue of Nigeria not diversifying its economy, […]Read More