FIRS raked in N10trn in September, eyes N12trn target – FG
The Federal Inland Revenue Service (FIRS) generated N10trn in taxes as at September 2022, says the minister of finance, budget and national planning Zainab Ahmad.
The agency’s target, she said, is to meet its N12trn mark for 2022.
She said, “Last year, FIRS revenue was N6trn but as at September, its revenue is N10trn and we are looking at closing at 12trn this year.
“This revenue is driven by non oil sector, we have superseded the revenue targets for the sector already but the oil revenue is dragging the revenue performance behind. It is having an impact and putting stress on our debt service to revenue.
“So tax compliance must improve, tax efficiency must improve,” said.
Ahmad urged the state inland revenue authorities to ensure that they have an harmonise and single payer base.
Doing so, Ahmad said, would make it difficult for tax payers to dodge tax authorities or alternate between one tax authority to another, without being identified.
“We have to reset the social contract worth the citizens for every Nigerians to understand that they must as a necessity to contribute to development by paying their taxes.
“We have a situation where there is a lacklustre attitude by tax payment despite what we have done to enhance the capacity and efficiency of tax authorities.
“So there is still more to do. There must be that spirit of pride for being a Nigerian by wanting to pay your taxes so that you can contribute to development,” the minister stated.
