Economy

Insecurity, dwindling economy collapse NIS revenue from Passports, VISAS to N35.72bn

Written by Maritime First
…As NBS says FAAC disbursed N270.81bn to FG in March***

 

It is either that Nigerians are growing weaker to travel or those in diaspora are losing the steam to come home, if the National Bureau of Statistics (NBS) data on the Nigeria Immigration Service (NIS) showing that the NIS generated only N35.72 billion from passports applications in 2017, is anything to go by.

The statistics as posted on the NBS website truly indicated that the Immigration’s performance  in 2017 when quantified was indeed lower than the N36.17 billion NIS generated from passports application as local revenue in 2016.

The report further showed that whereas the NIS received a total of 720,958 passports applications  in 2017, it was a far cry when juxtaposed against the 3,684,288 it received in 2016. The NBS  noted that the figures actually represented about 80.43 per cent negative growth.

Worse still, the NBS report showed that 127,882 of the 2017 figure were for minors, while 544,473 were for adults and the remaining 48,603 were for senior citizens; a reflection that showed that Nigerians were probably ‘exporting’ more minors or that more senior citizens were exiting the country, in droves!

More worrisome, the report further highlighted that a total of 152,163 passports were issued at the foreign missions in 2017 as against 172,824 issued in 2016, even as the number of visa issuance at the foreign missions was 115,150. The most conservative reason may be that Nigerians were beginning to stay more outside, in painful reaction to the security situations at home!

If figures don’t lie, it simply means too, that the figures represented an 11.95 per cent negative growth!

The report also put the number of lost and stolen passports re-issued in 2017 at 13,450.

Meanwhile, the Federation Account Allocation Committee (FAAC), according to the National Bureau of Statistics has disbursed the sum of N270.81 billion to the Federal Government in March.

This data was posted on the NBS website as FAAC March 2018 Disbursement statistics

The Bureau indicated that the states received a total of N173.76 billion, while local governments received N130.91 billion.

It stated that the sum of N647.39 billion was disbursed to the three tiers of government during the month under review.

According to the report, the amount disbursed comprised N557.29 billion from the Statutory Account, N89.45 billion from Valued Added Tax (VAT) and N654.49 million excess bank charges.

The report, however, stated that the sum of N57.49 billion was shared by the oil producing states as 13 per cent derivation fund.

It said that revenue generating agencies such as the Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS), and the Department of Petroleum Resources (DPR) received N3.82 billion, N5.64 billion and N2.97 billion respectively as cost of revenue collections.

It offered a breakdown of revenue allocation distribution to the Federal Government indicating that the sum of N230.33 billion was disbursed to the Federal Government consolidated revenue account.

In addition, it noted that N4.89 billion was shared for derivation and ecology, N2.45 billion as stabilisation fund, N8.23 billion for the development of natural resources and N5.72 billion to the FCT.

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Maritime First