The Federal Competition and Consumer Protection Commission (FCCPC) has revealed that it Internally Generated Revenue (IGR) is already at N56bn in 2023.
The Commission said they have remitted N22.4 billion to the government.
The Executive Vice-Chairman/Chief Executive Officer of FCCPC, Babatunde Irukera in a media parley in Abuja on Thursday said the Commission’s personnel cost hovered from N633m to about N2.5bn as the essential of the commission personnel cost went up times four.
He explained that prior to 2017, the FCCPC had a budget of N1bn from the federal government, of this amount, N511m was personal cost and salaries of 240 employees at the time.
He said what was released was N796m and their internally generated revenue was N154m.
He further explained that in 2018, the agency has huge jump in the budget from the treasury and it got a budget of N3.3bn and that is largest sent of which N2.1bn was released.
He said that by 2019, the budget of the agency went back from N3.3bn down to N1.3bn. “Out of that, 518m was personnel cost. In that year, when we started the reforms, the agency made a total Internally generated revenue of N377m, which was unprecedented as the highest at the time. But we were growing the agency as best as we could.
“In 2020 the government budget deeper to N887m of which N582m was for salaries and personnel cost. The agency was able to make approximately what the government gave by itself and the agency revenue that year was N864m.
FCCPC generates N56bn IGR in 2023
