NIPC has advised that it remitted N5.36 billion to the Consolidated Revenue Fund (CRF) from its Internally Generated Revenue (IGR) between January 2016 and March 2021. The amount represents 46% of the total IGR of N11.61 billion generated during the period.
Following NIPC's addition to the schedule of the Fiscal Responsibility Act in November 2016, the Commission has been subject to the remittance of 80% of its Operating Surplus to the CRF. As part of its commitment to better governance, proactive compliance, and transparency, NIPC makes quarterly disclosures of material financial, legal, procurement, personnel, and operational information.
NIPC generated its highest income in 2018 (N5.59 billion), a result of the backlog from the lifting of the two-year suspension on the administration of the Pioneer Status Incentive (PSI). PSI service charges accounted for 96% of NIPC's IGR over the period. In the 2020 Freedom of Information Act (FOIA) Compliance and Transparency Award, NIPC was ranked 2nd out of 213 MDAs evaluated — the Commission's second successive year in this position, having first attained it in 2019. NIPC's progression from its 2016 ranking of 90th out of 131 MDAs reflects sustained investment in internal transparency and governance.
