The Nigerian Extractive Industries Transparency Initiative (NEITI) on Thursday said the federal government revenue-generating agencies remitted a total of about N14.38 trillion as revenue from the extractive sector to the Federation Account (FA) between 1 January 2020, and 31 December 2021.
The Deputy Director/Head of Communications and Stakeholders’ Management at NEITI, Obiageli Onuorah, in a statement on Thursday, said the revenue-generating agencies include the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Upstream Regulatory Commission (NUPRC), the Federal Inland Revenue Service (FIRS), the Ministry of Mines and Steel Development (MMSD), and the Nigeria Customs Service (NCS).
Mrs Onuorah said a breakdown of the remittances showed that mineral revenue accounted for N6.40 trillion (about 44.5 per cent of total remittances) for the period, while other non-mineral revenue (excluding VAT) contributed N4.80 trillion (about 33.37 per cent of total remittances).
