The Chairman, Federal Inland Revenue Service, Dr. Zacch Adedeji, has revealed that the service achieved a significant milestone by generating a total of N3.94 trillion in tax revenue during the first quarter of 2024.
However, despite this performance, the revenue fell short of the quarterly target set by the FIRS, which was N4.8tn.
Adedeji shared these figures while hosting a delegation from the Chartered Risk Management Institute of Nigeria at the FIRS Headquarters in Abuja.
The Q1 performance represents a remarkable 56.7 per cent increase compared to the corresponding quarter in 2023.
Adedeji emphasised the service’s commitment to intensifying efforts throughout the rest of the year to achieve its ambitious N19.4tn revenue target for 2024.
Speaking on behalf of the Chairman, his Chief of Staff, Mr. Tayo Koleosho, highlighted the FIRS’s consistent dedication to its mandate of revenue generation and meeting government targets.
He expressed pride in the agency’s ability to collaborate effectively with stakeholders like the Chartered Risk Management Institute of Nigeria.
Furthermore, he outlined the service’s strategic vision, aiming to create an environment conducive to growth, including the removal of obstacles for corporate entities and ensuring a tax administration that is friendly, customer-centric, and supportive of business growth.
He stated that the FIRS remains resolute in its mission to drive revenue collection and contribute to the economic development of Nigeria. With ongoing collaboration and a commitment to excellence, the service aims to surpass expectations and foster a thriving business landscape in the country.
“Over the years through the various administrations, the service has maintained its mandate of generating revenue and meeting government’s targets. “We will continue to make giants stride, and we take pride in meeting and surpassing our revenue collection targets for the federation with constant collaboration with stakeholders like the CRMI.
“We have resolved to create an environment of growth by removing every obstacle in the way of corporate entities and ensure a tax administration that is friendly, customer-centric, and ready to help businesses to bear more fruits,” he said.
Culled from punchng
