In June 2024, three key Nigerian government revenue-generating agencies – Nigeria Customs Service, Federal Inland Revenue Service, and the Nigeria Nigerian Upstream Development Petroleum Commission – collectively received N76.64 billion from the Federation Allocation Account Commission.
These figures are based on the National Bureau of Statistics’ data on FAAC disbursement for June 2024.
The disbursement to these agencies represents only a portion of the N2.32 trillion disbursed to Federal, State, and Local Governments.
This amount allocated to the three agencies is designated as payment for their revenue collections.
According to the report, “The revenue generating agencies which include Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and Nigerian Upstream Development Petroleum Regulatory Commission (NUPRC) received N20.85 billion, N36.33 billion, and N19.46 billion respectively as cost of revenue collections.”