Nigerian Passport for travel and identification.

The Nigeria Immigration Service has revealed that its projections for revenue dropped by 96%, from N27.18bn in 2021 to N1.03bn for 2022.

Why it matters?
At the start of 2021, the Nigeria Immigration Service predicted the revenue to be generated from passport to be N24.43bn while N1.03bn was projected for e-pass. As of the time of this report, NIS has decreased the figures of these projections by N26.15bn, which is a 96.2% reduction.

With a continuous decrease in revenues from different other sectors of the economy, the financial situation of the country continues to crush. Nigeria’s debt also keeps rising with the President Muhammadu Buhari continues to seek more loans.
 
But while the proposed projections dropped for 2021, there was a rise in the spending budget for 2022, from N69.11bn to N75.32bn. This is a 2.39% rise in the proposed 2022 budget. Speaking in response to these figures, the NIS Public Relations Officer, James Okpo, said that factors such as longevity of the passports play a major role.

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