*Cost of Revenue Collection in Nigeria*
– *N214.29 Billion Spent*: In the first quarter of 2024, Nigeria spent N214.29 billion on revenue collection, with revenue collecting agencies such as the Federal Inland Revenue Service, Nigeria Customs Service, and Nigerian Upstream Petroleum Regulatory Commission sharing this amount as logistics cost
– *Expanded Tax Collection Efforts*: This substantial growth in cost is attributed to expanded tax collection efforts, potentially due to better tax compliance measures and increased economic activities.
– *Revenue Collection Agencies*: The cost of collection is usually deducted at the monthly FAAC meeting before the federally collected revenues are shared with the three tiers of government and other statutory recipients.
– *Concerns About Allocation*: The report raises concerns about the allocation of funds, stating that these agencies are getting more allocations at the expense of others, including states and zones that have a high number of citizens to cater for and a slew of challenges to tackle.
