By NDUKA CHIEJINA

Nigeria’s independent revenue crossed the N1 trillion mark in 2021, it was learnt on Wednesday.

Minister of Finance Budget and National Planning Mrs Zainab Ahmed stated this at the public presentation of the 2022 Appropriation Act.

Independent revenues are generated by the Federal Government from agencies captured under the Fiscal Responsibility Act.

They include the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC), the Securities and Exchange Commission (SEC), the Nigerian Television Authority (NTA), among others.

These agencies remit 80 per cent of their operating surplus to the Consolidated Revenue Fund Account.

Last year, Government Owned Enterprises (GEOs) returned N1.2 trillion to the account.

Other revenues in the same year amounted to N2.80 trillion.

Ahmed expressed delight that this revenue segment was performing better than expected.

The government, Ahmed said, “is targeting N10.7 trillion in 2022, inclusive of revenue from Government Owned Enterprises (GOEs)”. (The Nation)

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