• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

NIPC says it remitted N5.36 billion to Consolidated Revenue Fund from 2016-2021

William Ukpe by William Ukpe
June 4, 2021
in Business News, Spotlight
NIPC to launch Single Window Investors Portal by 2021
Share on FacebookShare on TwitterShare on Linkedin

The Nigerian Investment Promotion Commission (NIPC) stated that it remitted the sum of N5.36 billion to the  Consolidated Revenue Fund (CRF) from its Internally Generated Revenue (IGR) from January 2016 to March 2021.

The NIPC disclosed this in a report on Thursday, revealing IGR and CRF payments since 2016. The report cited that 45% of the commission’s total IGR was paid to the CRF from a total IGR of N11.61 billion for the period.

“In the 2020 Freedom of Information Act (FOIA) Compliance and Transparency Award, NIPC was ranked second out of 213 Ministry, Departments and Agencies (MDAs) evaluated, maintaining the impressive ranking, first attained in 2019, for the second successive year.

RelatedStories

Evercare Hospital, Sifax, Afam Power, 13 others gain Pioneer Status in Q2 2022

Why Nigeria plans to simplify import substation for AfCFTA – NIPC

December 3, 2022
Nigerian States grow IGR to N1.89 trillion in 2021 as Lagos, Abuja dwarf others

Nigerian States grow IGR to N1.89 trillion in 2021 as Lagos, Abuja dwarf others

October 16, 2022

READ: MDAs did not remit N3 trillion to Consolidated Revenue Fund in 6 years – Senate

The commission was the most consistent among the leading MDAs ranked in 2019 and 2020,” the report stated.

The NIPC is part of the agencies expected to remit 80% of the surplus to the CRF following the implementation of the Fiscal Responsibility Act in 2016. The commission also revealed the steps it took to ensure compliance including quarterly proactive disclosures of material, financial, legal, procurement, personnel, and operational information.

They added that service charges accounted for 96% of IGR for the period, with an annual IGR of N1.93 billion. The highest IGR was earned in 2018 at N3.38 billion after a 2-year suspension on its Pioneer Status Incentive (PSI) was lifted.

READ: Here is how much AMCON has recovered since inception

What you should know

Nairametrics reported last month that the Fiscal Responsibility Commission revealed that MDAs are illegally holding N1.2 trillion, citing failure to remit 80% of operating surpluses to the Consolidated Revenue Funds (CRF) of the Federal Government in line with the Fiscal Responsibility Act.


Follow us for Breaking News and Market Intelligence.
Tags: Consolidated Revenue Fund (CRF)Internally Generated Revenue (IGR)Nigerian Investment Promotion Commission (NIPC)
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Evercare Hospital, Sifax, Afam Power, 13 others gain Pioneer Status in Q2 2022
Business

Why Nigeria plans to simplify import substation for AfCFTA – NIPC

December 3, 2022
Nigerian States grow IGR to N1.89 trillion in 2021 as Lagos, Abuja dwarf others
Economy

Nigerian States grow IGR to N1.89 trillion in 2021 as Lagos, Abuja dwarf others

October 16, 2022
Top states in Nigeria with highest IGR per population in H1 2021
Macros

Top states in Nigeria with highest IGR per population in H1 2021

November 16, 2021
Meet Yewande Sadiku, Nigeria’s chief investment promoter
Profiles

Meet Yewande Sadiku, Nigeria’s chief investment promoter

August 29, 2021
FG to buy only locally assembled vehicles for its use, NEC sets up committee to address unemployment and improve national security, PEBEC, Twitter deactivate Yemi Osinbajo's Twitter account, How Nigeria's LPG sector can create 2 million jobs -Osinbajo, budget support, NEC okays $250 million investment in NSIA , MSMEClinic gets 200,000 capacity yam storage facility in Benue, Accusations of Yemi Osinbajo receiving N4 Billion from recovered loots are baseless- Presidency, FG rolls out N2.3 trillion survival funds for MSMEs; see criteria , Presidential Enabling Business Environment Council (PEBEC) reforms to boost investments – Osinbajo, Public-Private Partnership infrastructure model a result of successful tax credit initiative - Vice President
Business News

Public-Private Partnership infrastructure model, a result of successful tax credit initiative – Osinbajo

July 14, 2021
IIfeanyi Ugwuanyi
Business News

Enugu State records IGR of N7 billion for Q1 2021

July 13, 2021
Next Post

2021 Q1 Results: Conoil Plc reports a 63% increase in profit to N423.9 million.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • US imports $1.34 billion Nigerian crude oil in five months despite Trump tariffs
  • Nigeria’s public debt may hit N160.6 trillion by December as borrowing intensifies – Report 
  • Nigeria’s young workforce fuels surge in digital skills, GenAI learning – Coursera Report 

Follow us on social media:

Recent News

Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

US imports $1.34 billion Nigerian crude oil in five months despite Trump tariffs

July 20, 2025
President Bola Tinubu,

Nigeria’s public debt may hit N160.6 trillion by December as borrowing intensifies – Report 

July 20, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics