Agora Policy says three government-owned enterprises received more FAAC revenue as cost-of-collection in January than four geopolitical zones
think-tank, says three government-owned enterprises received more federal account allocation committee revenue as cost-of-collection in January than four geopolitical zones.
“For example, in January 2024, FIRS received N43.35bn as cost of collection. None of the 36 states of the federation received up to this amount as federation allocation.“The state with the highest gross allocation for the month, Delta state, got N39.59bn, which means that FIRS not only received an amount more than what each of all the 36 states but also got 109.49% of the allocation of the state with the highest gross allocation.
“But the gross allocations to the six geo-political zones for the same month were as follows: N56.60bn for the north-east; N55.58bn for the north-central; N76.09bn for the north-west; N47.75bn for the south-east; N141.85bn for the south-south; and N86.60bn for the south-west.
“The fourth issue is that most government agencies want to become commission agents or revenue-generating agencies. This distracts them from their core mandates and leads to imposition of heavy costs on individuals and businesses.“The last problem is that the quantum of money available to these agencies predisposes them to extravagance, opacity and graft.
According to the firm, the government should aim for adequate and predictable funding for these important agencies.
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