The federal government has several money-making agencies but top on the list this year has been the Federal Inland Revenue Service, FIRS and Nigeria Customs Servcie, NCS.

Over the last eleven months, the Nigerian Customs remitted 653 billion naira to the federal government, but it is a far cry from the total sum of 4.62 trillion naira which FIRS paid into the federation account between January and November this year.

This was revealed by figures obtained from the Ministry of Finance.

The amount is contained in a document presented to the ministry during the Federation Account Allocation Committee meeting.

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The FIRS in the document stated that 4.62 trillion-naira revenue was collected from three major categories of taxes.

They are Petroleum Profit Tax where the sum of 2.3 trillion-naira was collected, Companies Income Tax which generated 1.31 trillion-naira and Value Added Tax where the sum of 1 trillion-naira was received.

Here is a monthly breakdown of the 4.62 trillion-naira revenue figure as paid into government coffers:

  • January - 353.27 billion naira
  • February - 450.46 billion naira
  • March - 319.08 billion naira
  • April - 428.44 billion naira.
  • May - 384.84 billion naira
  • June - 457.57 billion naira
  • July - 408.93 billion naira
  • August - 492.58 billion naira
  • September - 370.5 billion naira
  • October – 473.72 billion naira
  • November - 485.51 billion naira

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