No Change to Cost of Collection Policy, Says Nigeria’s Finance Ministry

Oru Leonard 

The Federal Ministry of Finance in Nigeria has denied reports that the Federal Government has discontinued the practice of allowing revenue-generating agencies to deduct their cost of collection at source. According to the Ministry, the current framework remains in effect, and any changes to the policy will be guided by due process, stakeholder engagement, and clear communication.

In a press release signed by the Director of Information and Public Relations, Mr Mohammed Manga, the Ministry categorically stated that there has been no policy change regarding the deduction of costs of collection at source by revenue-generating agencies.

However, the Ministry is reviewing the cost of collection structure as part of efforts to enhance transparency, efficiency, and value-for-money in public financial management.

Revenue operations continue uninterrupted, and any future adjustments will be communicated clearly.

The Ministry urges media organizations to seek clarification from official sources before publishing information that may cause unnecessary confusion.