Customs our n2 5trn profit used for monthly allocations to the three tiers of government
A very specific and interesting question!
In Nigeria, the Customs Service is a major revenue-generating agency of the federal government, and its revenue is shared among the three tiers of government: the Federal Government, States, and Local Governments.
According to the Nigerian Constitution, the revenue generated by the Customs Service is shared as follows:
- Federal Government: 52.68% of the total revenue generated by the Customs Service goes to the Federal Government.
- States: 26.72% of the total revenue generated by the Customs Service goes to the States.
- Local Governments: 20.6% of the total revenue generated by the Customs Service goes to the Local Governments.
Now, regarding the N2.5 trillion profit you mentioned, I assume you are referring to the total revenue generated by the Customs Service in a year. If that's the case, here's a breakdown of how the N2.5 trillion profit would be allocated:
- Federal Government: N1.315 trillion (52.68% of N2.5 trillion)
- States: N662.5 billion (26.72% of N2.5 trillion)
- Local Governments: N507.5 billion (20.6% of N2.5 trillion)
Please note that these figures are hypothetical, as the actual revenue generated by the Customs Service may vary from year to year. Additionally, the allocation percentages may also change over time due to changes in the Nigerian Constitution or other laws.
I hope this helps clarify things!