Revenue Collection
Information on how government collects and manages revenue from Nigeria's extractive industries.
Collection Methods
- →Royalties - Percentage of production value
- →Taxes - Corporate and income taxes
- →Bonuses - Signature and production bonuses
- →Levies - Special industry levies
Responsible Agencies
- •Federal Ministry of Finance
- •NNPC Limited
- •Regulatory Commissions
- •Internal Revenue Service
Revenue Management Process
1
Collection
Revenue is collected from extractive companies
2
Verification
Revenue is verified and validated
3
Recording
Revenue is recorded in government accounts
4
Allocation
Revenue is distributed to government levels