{"id":78650,"date":"2021-09-04T17:47:30","date_gmt":"2021-09-04T16:47:30","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=78650"},"modified":"2021-09-04T17:47:30","modified_gmt":"2021-09-04T16:47:30","slug":"nipc-generates-n3bn-igr-in-2020","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/09\/04\/nipc-generates-n3bn-igr-in-2020\/","title":{"rendered":"NIPC generates N3bn IGR in 2020"},"content":{"rendered":"<p>The Nigerian Investment Promotion Council (NIPC) has reportedly generated N3.06 billion as IGR, representing an increase of 92 percent compared to the 2019 IGR of N1.59 billion.<\/p>\n<p>The IGR also represents a 108 percent jump against the 2020 budget of N1.47 billion.<\/p>\n<p>According to report,<span data-preserver-spaces=\"true\">\u00a0between 2016 and the first half (H1) of 2020, NIPC remitted N5.82 billion out of a total of N11.91 billion <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/17\/nigerian-immigration-uncovers-human-trafficking-hideouts-in-jigawa-rescues-victims-arrests-agent\/\">IGR<\/a> to the federal government\u2019s consolidated revenue fund (CRF).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A breakdown of the IGR income shows that the commission generated N296.93 million in 2016; N29.09 million in 2017; N5.59 billion in 2018; N1.52 billion in 2019; and N1.41 billion in H1 2021.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Also, in its 2020 financial result,<\/span><span data-preserver-spaces=\"true\">\u00a0NIPC posted a surplus of N2.32 billion\u2014a surge of 1631.58 percent compared to N134.16 million recorded in 2019.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Meanwhile, its financial year (FY) 2018 has the highest surplus in five years (2016-2020) with N4.33 billion, while 2017 has the lowest with N35.76 million.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The commission\u2019s total expenditure declined for the first time in three years to N1.51 billion, compared to NN2.23 billion in 2019; N2.04 billion in 2018.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Its gross income grew by 61.6 percent year-on-year from N2.37 billion in 2019 to N3.83 billion in 2020.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">NIPC\u2019s personnel and administrative costs in 2020 declined to N919.8 million (9 percent) and N292.38 million (61 percent) respectively, compared to the corresponding year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian Investment Promotion Council (NIPC) has reportedly generated N3.06 billion as IGR, representing an increase of 92 percent compared to the 2019 IGR of N1.59 billion. The IGR also represents a 108 percent jump against the 2020 budget of N1.47 billion. According to report,\u00a0between 2016 and the first half (H1) of 2020, NIPC remitted [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":78660,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[17227,17225,17226,17224],"class_list":["post-78650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-17227","tag-financial-result","tag-internal-revenue-generation","tag-nigerian-investment-promotion-council-nipc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NIPC generates N3bn IGR in 2020<\/title>\n<meta name=\"description\" content=\"The Nigerian 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