Agora Policy, an Abuja-based policy think tank, has called for a comprehensive overhaul of Nigeria’s revenue collection system.
In a report it published on Monday, the policy think tank criticised the current cost-of-collection approach, highlighting its inefficiencies and the disproportionate financial benefits enjoyed by some federal agencies.
The report shows that three key agencies benefit from the cost-of-collection arrangement, namely the Federal Inland Revenue Service (FIRS), which receives 4 per cent of non-oil revenues; the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which gets four per cent of royalties, rents, and other oil and gas sector revenues; and the Nigeria Customs Service (NCS), which receives seven per cent of customs duties and levies.
