The Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS) increased their revenue generation to N12.7 trillion in 2022.
This represents a 46.8 per cent increase from the N8.7 trillion the two agencies collected in 2021.
The figure was captured in a recent revenue data released by the National Bureau of Statistics (NBS).
The aforementioned agencies help the federal government in the collection of revenue from different sources, including Value Added Tax (VAT), and Company Income Tax (CIT).
A breakdown showed that the FIRS collected N10.1 trillion in revenue in 2022 while it received N200.16 billion, representing two percent of the total generation as the cost of collection.
The NCS, which followed with N2.60 trillion in revenue generation, withdrew N128.64 billion (5 per cent) as the cost of collection.
This represents a 17.4 per cent rise compared to N83.51 billion received by the agency as a collection in the previous year.
