Explicit Reviews Of Top 10 Revenue Generating Government Agencies In Nigeria

1. Nigeria Immigration Servie

The Nigerian Immigration Service Agency is responsible for the Issuance of travel documents to qualified Nigerians, in and outside the country. They issue residence permits to foreigners in Nigeria. The NIS in 2019 generated over N62.6 billion. A major critics of the NIS is customer/patrons service, tweeps on Twitter share their experience at various NIS Office

AMAT❤💡 (@AminatModupe2) Please, should immigration backlog hinder my success? how may backlogs do they have that made them not to do an international passport since Jan 7, 2020.Had the immigration service been working before now, would they have that much backlog? #GettingNigerianPassport?

Eby Wonder (@ogbu__) Have you been to any Nigeria Immigration office? they billed twice more than govt approved price for standard passport quote. That place is a rotten egg. We shall be visiting their case soon!

2. Federal Inland Revenue Service (FIRS)

This government agency is responsible for collecting, assessing, administers and accounting for all Federal Government taxes. Each year, the FIRS generates on the average, N8trillion from Personal Income Tax, Corporate Income Tax, Withholding Tax, Capital Gain Tax, Education Tax, National Information Technology Tax, Petroleum Profits Tax, Value Added Tax and Stamp Duties. Nigerians have express their dissatisfaction on how the Tax Identification Number (TIN) has been handled by the FIRS in 2020

Femi 🇳🇬 (@iamOLUWAWAO):Applied to get a TIN from FIRS since last year, they been posting me with no hope. Omo, frustration set in for me; I escalated it. I had to pretend I was calling some1 at the office and eventually left there without my TIN! Why do we have to struggle for everything in Nigeria?

3. Nigeria Ports Authority

The Nigeria Ports Authority is responsible for collecting fees paid by the concessionaire handling terminal operations in the ports, shipping and harbor dues and rent from its lands, among others. Each year, the NPA generates on the average, N10trillion from Apapa Wharf, Tin Can Port, Delta Ports, Calabar Ports, Rivers Ports and Onne Port.

4. The Central Bank of Nigeria (CBN)

The CBN is the principal monetary Agency in the country. The CBN earns interest (tax income) by keeping and trading the proceeds from NNPC oil revenue and FIRS incomes from (Value Added Tax, Education Tax, Commission, etc.). It also collects interests from investing foreign reserves, repatriation of unutilized WDAS, interests on WDAS Accounts held by Deposit Money Banks, Inward Money Transfer and WDAS Purchases.

5. Department Of Petroleum Resources

DPR has the statutory responsibility of ensuring compliance to petroleum laws, regulations and guidelines in the Oil and Gas Industry. To this end, the Department as a revenue collection agency of government has remitted $1.03billion to Federation Account from oil and gas royalties and legacy debts through robust regulatory reforms that have been put in place to ensure timely and efficient revenue collection drive.

6. Federal Airport Authority Of Nigeria (FAAN)

This is the major revenue generating agency in the aviation sector. They have its headquarter on the grounds of Murtala Muhammed International Airport in Ikeja, Lagos State. FAAN generates revenue from aeronautical (80%) and non-aeronautical sources (20%). A Facebook user expressed her displeasing experience with Dana Air

Opuada Abusi: Dana Air have no respect or common courtesy. Changed my flight time by 2 hours without any notification. No explanation for why I got delayed for another 2 hours! Jezz! It’s common sense.

7. Joint Admission And Matriculation Board

The Joint Admissions and Matriculation Board, JAMB disclosed that the principle of its Registrar, Prof. Ishaq Oloyede, is that government business can always be done irrespective of the amount available for such task. According to him, “The board realized N8.4 billion from the sale of 2018 Unified Tertiary Matriculation Examination (UTME) applications. People actually thought that N5,500 that we collect for UTME application goes straight to JAMB purse. Jamb basically needs to train their staffs on customer service and approach due to the fact that they deal with a lot of people across the country from different background.

8. National Agency For Food And Drug Administration And Control (NAFDAC)

The National Agency for Food and Drug Administration and Control (NAFDAC) is a federal policy under the Federal Ministry of Health that is responsible for regulating and controlling the manufacture, importation, exportation, advertisement, distribution, sale and use of food, drugs, cosmetics, medical devices, chemicals and packaged water in Nigeria. The agency generates its revenue from fines and registration fees from participating companies.

9. Nigeria Custom Services (NCS)

The Nigeria Customs Service (NCS), collects Import Duties. Yearly, the NCS generates on the average, N2trillion. During the period under review year 2019 generated a total of Three Hundred and Forty Six Billion, Five Hundred and Eight Million, Eight Hundred and Thirty Six Thousand, Four Hundred and Eighty Six Naira and Fifty Four Kobo (N346,508,836,486.54) and remitted same into the federation account.

10. Nigeria National Petroleum Corporation (NNPC)

In terms of revenue generation, NNPC gained a revenue  accounts for 76% of federal government and 40% of the country’s GDP. It is the highest revenue generating agency in the country. Total cash remitted into the Federation accounts in relation to crude oil liftings was $50.81bn and NOT $47bn as earlier stated by the Reconciliation Committee for the period from January 2018

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