Skip to main content

FIRS Rakes N5.5trn In Six Months


 The Federal Inland Revenue Service (FIRS) has generated about N5.5 trillion as tax revenue for the half-year period, beginning from January to June 2023.

This formed the crux of discussion at the presentation of 2023-2024 tax revenue outlook during the National Economic Council meeting at the Presidential Villa, Abuja.

The Executive Chairman of FIRS, Mr Muhammad Nami noted that the revenue was the highest  collection recorded by FIRS in any first six months of a fiscal year.

He stated that FIRS 2023 Half-Year Collection Report revealed that the agency achieved over 100 per cent of its target for the first-half of the year when compared with a mid-year target of N5.3 trillion.

“Tax revenue collected from the oil sector from January to June 2023 stood at N2.03 trillion as against a target of N2.3 trillion, while non-oil tax collection stood at N3.76 trillion as against a target of N2.98 trillion", the boss added.

Nami hinted that FIRS collected N1.65 trillion tax revenue in June 2023, which he described as the highest tax revenue collected in any single month. 

The FIRS boss attributed the performance to improved voluntary tax compliance enabled by the automation of its tax administrative processes.

“It was achieved in spite of stubborn headwinds such as the impact of the currency redesign and 2023 general elections on the economy in the first and second quarters of 2023.

"The successes was as a result of improved voluntary tax compliance by taxpayers and the continued improvement of automation of our tax administration processes including the updated VAT filing processes.

“This includes our dogged engagement with stakeholders in both the formal and informal sectors of the economy,” he said.

Commenting on the outlook for the remaining half of the year, the FIRS boss assured that the country should expect better days ahead in terms of tax revenue collection.

These were contained in a statement issued in Abuja over the weekend by Mr Johannes Wojuola, Special Assistant on Media and Communication to the Executive Chairman of FIRS, Mr Muhammad Nami.

Comments

Post a Comment

Popular posts from this blog

11- month Unpaid Salaries: FG Returns EHCON To Budget Circle By 2025

BY CHIKA OKEKE, Abuja Stakeholders and Staff of EHCON in a group photograph at the unveiling of EHCON’s Electronic Documentation Management Center (EDMC) in Abuja on Wednesday. The Federal Government has stated that plans are underway to return the staff of Environmental Health Council of Nigeria (EHCON) to budgetary allocation by 2025 and facilitate the payment of 11-month unpaid salaries. Minister of Environment, Alhaji Balarabe Abbas Lawal stated this on Wednesday in Abuja at the unveiling of Environmental Health Council of Nigeria's (EHCON) Electronic Documentation Management Center (EDMC).  The centre, which is domiciled at the headquarters of EHCON in the Federal Secretariat, was built by EHCON in partnership with Agro - Climate Resilience in Semi Arid Landscape (ACReSAL) and financed by the World Bank. News Rider reports that the staff of EHCON received their last salary in December 2023, which  implied that from January to November 2024, the workforce are y...
1 comment
Read more

EHCON Seals Deal With SEPHON, EPHPAN, WAHEB To Revamp Environmental, Public Health

BY CHIKA OKEKE, Abuja Registrar of  Environmental Health Council of Nigeria (EHCON) Dr Yakubu Baba  displaying a Memorandum of Understanding (MoU) signed with the Registrar of West African Health Examination Board (WAHEB) Mrs Bola Oladejo in Abuja on Tuesday.  In line with global best practices, the Environmental Health Council of Nigeria (EHCON) has sealed deal with strategic professional bodies to revamp environmental and public health issues across the country.  They are Society for Environmental and Public Health of Nigeria (SEPHON), Environmental and Public Health Practitioners of Nigeria (EPHPAN), and West African Health Examination Board (WAHEB).  Registrar of EHCON, Dr Yakubu Baba stated this on Tuesday at the signing of a Memorandum of Understanding (MoU) with the professional bodies in Abuja.  He noted that Environmental Health (EH) is a profession recognised and established by Act 11 of Environmental Health Officers Registration Counc...
Post a Comment
Read more

CCB, NILDS Endorse CIFCFIN Agenda To Eliminate Fraud

BY CHIKA OKEKE, Abuja Iliyasu Gashinbaki  The Code of Conduct Bureau (CCB) and National Institute for Legislative and Democratic Studies (NILDS) have endorsed the agenda of the Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN), aimed at eliminating fraud from systems of government.  This was one of the major highlights during the Institute’s 13th Direct Training/Licensed Practitioners Training/graduation and award of Fellowship at NILDS headquarters, Abuja.  Speaking after his investiture as an Honourary Fellow of the Institute, Chairman of CCB, Dr. Abdullahi Bello noted that CIFICFIN embodies excellence, integrity and a steadfast commitment to combating fraud and upholding justice. He pointed out that to be recognised and honoured as a fellow of the institute is a privilege that he will cherish and carry with great responsibility.  “As the Chief Executive of CCB, I am reminded of the critical role we play in fosterin...
Post a Comment
Read more