List of Federal Government Revenue Generating Agencies in Nigeria

 

Federal Government revenue generating agencies are  government organizations with statutory powers to collect various forms of revenue to fund public expenditures and services. These agencies are established by the act of the parliament, i.e the National Assembly they  departments and agencies such taxation, customs and excise, licensing, and regulatory bodies. Their primary functions include assessing and collecting taxes, tariffs, fees, fines, and other charges imposed by the government. The duties of some of these agencies include enforcement  of compliance with tax, trade and immigration laws, protection of consumer rights, and administer programs such as social security contributions like pension. The revenue generated by these agencies are remitted in the federation account and are share by the three tiers of government i.e the Federal Government, state governments and local governments. Funds generated by these agencies contribute to funding of essential government projects such as infrastructure development, healthcare, education, defense, and for running the governments.

Nigerian Government Revenue Generating Agencies 

• Bank of Industries
• Corporate Affairs Commission
• Federal Airports Authority of Nigeria 
• Federal Inland Revenue Services (FIRS)
• Federal Road Safety Corp (FRSC)
• Federal Mortgage Bank of Nigeria
• Industrial Trust Fund
• Joint Admissions and Matriculation Board (JAMB)
•  Nigerian Airspace Management Agency 
• National Agency for Food and Drugs Administration Control ((NAFDAC)
• National Automotive Design and Development Council
• National Health Insurance Scheme
• National Inland Waterways Authority
• Nigerian Broadcasting Commission (NBC)
• Nigerian Bulk Electricity Trading 
• Nigerian Communications Commission (NCC)
• Nigerian Copyright Commission
• Nigerian Communications Satellite (NICONSAT)
• Nigerian Content Development and Monitoring Board
• Nigerian Customs Service (NCS)
• Nigerian Deposit Insurance Corporation 
• National Environmental Standards and Regulations Enforcement Agency
• Nigerian Electricity Regulatory Commission
• Nigerian Exports Promotion Council
• National Lottery Regulatory Commission
• Nigerian Mainstream and Downstream Petroleum Regulatory Authority 
• Nigerian Maritime Administration and Safety Agency (NIMASA)
• National Pension Commission (PenCom)
• Nigerian Ports Authority (NPA)
• Nigerian Civil Aviation Authority (NCAA)
• Central Bank of Nigeria (CBN)
• Nigerian Railway Corporation (NRC)
• Nigerian Shippers' Council
• Nigeria Social Insurance Trust Fund 
• Nigerian Tourism Development Corporation (NTDC)
• Security and Exchange Commission (SEC)
• Standard Organization of Nigeria (SON)
• Tertiary Education Trust Fund (TETFund)

Central Bank of Nigeria

The CBN is empowered by the BOFA to issue operational licenses, and regulate deposit money banks and other financial institutions in Nigeria. The generates fund through the insurance of operational licenses and imposition of fines. As the government’s bank, CBN perform business transactions especially foreign transactions on behalf of the federal government.

Joint Admissions and Matriculation Board

JAMB is responsible for conducting entrance exam into tertiary institutions in Nigeria. Although not established as revenue generating agency, JAMB now remit fund generated through the sales of Unified Tertiary Matriculation Examination, and Direct Entry forms in to the federal government account.

NITDA

Established by National Information Technology Development Agency Act, the National Information Technology Development Agency is saddled with the responsibility of creating  framework for the planning, research, development, standardization, application, coordination, monitoring, evaluation and regulation of Information Technology practices in Nigeria. The agency generates money through technological products certification fees.