This was disclosed by the analysis of the proposed budgets of government-owned enterprises. While N24.43bn was proposed as passport revenue, N2.75bn was proposed as e-pass revenue for 2021.
For 2022, N1.03bn was proposed as passport revenue, and N201.81m was proposed as e-pass revenue.
In total, the NIS decreased its projected revenue from the issuance of passport and e-pass by N26.15bn. This represents about 96.2 per cent decrease in the projected revenue.
This is despite the tight revenue crunch the country seems to be battling with, which has led to an increasing debt profile.
Recall, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had on several occasions said the country had a revenue problem and not a debt problem.
Various economic experts have urged the government to find ways to boost its revenue base and not depend on borrowings, with the increasing debt stock of the country.
Nigeria currently struggles with an economic crisis brought upon by the fall in oil prices and the COVID-19 pandemic, which has led to deteriorating revenue, increasing unemployment, inflation and poverty.
Shareholders associations in Nigeria have expressed support for plans by Nigerian Breweries Plc to raise… Read More
Inspired by my exchange with my dear friend Chidimma, a young lady who highlighted the… Read More
A 12-year-old, boy, Iremide Opeyemi, has drowned in a swimming pool at Grand Bank Link… Read More
As the global community celebrates this year's International Workers' Day, Japan Tobacco International Nigeria (JTI),… Read More
The 31st New York African Film Festival (NYAFF) is set to entertain audiences from May… Read More
A pro-democracy group, Kwara Must Change, has charged the Kwara State government to work towards… Read More
This website uses cookies.