Nigeria Customs, FIRS, Others Shared ₦54 Billion In November 2023 – NBS Reports

The National Bureau of Statistics (NBS) has disclosed that revenue-generating agencies in the country, namely the Nigeria Customs Service, Federal Inland Revenue Service, and Nigerian Upstream Petroleum Regulatory Commission, collectively received ₦53.5 billion as the cost of revenue collection for November 2023.

The Federation Account Allocation Committee (FAAC), based on data released by the NBS, disbursed a total of ₦1.35 trillion to the three tiers of government in November 2023.

During this period, the Federal Government reportedly received ₦323.35bn, while the 36 States, including the Federal Capital Territory, shared ₦307.72bn, averaging ₦8.32bn per state.

The data revealed further that the 774 Local Governments in the country shared ₦225.21bn, averaging ₦291m per local government.

The disbursement consisted of ₦660.09bn from the Statutory Account, ₦262.89bn from Exchange Gain, ₦60.00bn from Non-Oil Revenue, ₦16.20bn from Electronic Money Transfer Levy, and ₦347.34bn from Value Added Tax.

In November, the 13 per cent derivation fund was distributed among the nine oil-producing states, resulting in a total of ₦50.67 billion being shared among them.

According to the data provided by the NBS, these states include Abia, Akwa Ibom, Anambra, Bayelsa, Delta, Edo, Imo, Ondo, and Rivers.

Throughout the first six months of the year, these states collectively received ₦544.9bn from the federation account through the 13 per cent derivation formula, Naija News understands.