* Says their cost of collection exceptionally high by global standards
Ndubuisi Francis in Abuja
A financial economist and President of the Capital Market Academics of Nigeria (CMAN), Prof. Uche Uwaleke, has urged the National Assembly to undertake a comprehensive review of the statutory funding framework governing the Nigerian Revenue Service (NRS), Nigerian Customs Service (NCS), and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in the light of the country operating one of the most generous cost-of-collection regimes among developing and emerging economies.
Uwaleke said such a review should include a detailed examination of the actual operational costs of the agencies, their expenditure patterns, personnel costs, capital investments, technological infrastructure, and comparative international benchmarks.
His call was predicated on the fact that across developing and emerging economies, the average cost of collection is estimated at roughly one per cent, while Nigeria’s current range of between 4 and 7 per cent stands out as exceptionally high by global standards.
