• Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
Nigerian Daily Post
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
No Result
View All Result
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business
No Result
View All Result
Nigerian Daily Post
No Result
View All Result

FIRS Records Tax Revenue Collection of N5.5trn in Six Months, Projects N25trn in 2024

admin by admin
July 22, 2023
in National News
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter
For advert placement, News publication, Event coverage and Promotions, call +2349038222413 or email us info@nigeriadailypost.com.ng

FIRS Records Tax Revenue Collection of N5.5trn in Six Months, Projects N25trn in 2024

The Federal Inland Revenue Service (FIRS) has announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023 and plans to generate a total of N25 trillion in 2024.

It also said it plans to generate N7.5 trillion in the second half of this year.

This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year, the agency said in a statement.

The statement noted that Muhammad Nami, Executive Chairman of the FIRS, made the disclosure while presenting the 2023-2024 tax revenue outlook to the National Economic Council at its meeting on Thursday, July 20, at the Presidential Villa, Abuja.

The presentation, which contained FIRS’ 2023 Half-Year Collection Report, showed that the FIRS achieved over one hundred per cent of its target for the first half of the year compared with a mid-year target of N5.3 trillion.

According to the report, 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.

Mr Nami, in his presentation, further stated that the Service collected a total of N1.65 trillion in tax revenues in June 2023. This sum is the highest tax revenue collected by the Service in any single month.

Speaking to what he described as “a good head start, despite stubborn headwinds,” Mr Muhammad Nami, attributed the excellent performance to improved voluntary tax compliance enabled by the automation of FIRS’ tax administrative processes.

“This is a good head start as we work towards meeting our target for the year. And it was achieved despite 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,” said Mr Nami.

“This half-year performance was achieved as a result of improved voluntary tax compliance by taxpayers, the continued improvement of automation of our tax administration processes, including the updated VAT filing processes, as well as our dogged engagement with stakeholders in both the formal and informal sectors of the economy,” he concluded.

Commenting on the outlook for the remainder half of the year, the FIRS Executive Chairman gave assurances that the country should expect “better days ahead” in terms of tax revenue collection.

“We believe that the performance in the second half of the year would be better considering the continuing improvement to our tax administration processes and positive impact of current government’s policies on the economy,” said the Executive Chairman.

It would be recalled that the Service achieved a total collection of N10.1 trillion in the year 2022, being the highest tax collection ever made by the FIRS in a single year.

 

Speaking on 2024 projection, the VP media office said “Council commended the FIRS for its initiatives and reforms to boost revenue generation in the country, especially the projection of N25 trillion for the year 2024.

“Council encouraged States to utilize the peer review mechanism in the Nigerian Governors Forum and improve partnership with the Federal Inland Revenue Service to increase their internally generated revenue”.

Visited 5 times, 1 visit(s) today

For advert placement, News publication, Event coverage and Promotions, call +2349038222413 or email us info@nigeriadailypost.com.ng
Previous Post

FG Clampdown on Loan Apps, Delist Two 

Next Post

MINNA – BIDA ROAD: NIGER GOVT. CONSTITUTES COMPENSATION COMMITTEE.

admin

admin

Related Posts

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 
National News

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

September 17, 2025
FG, States, LGAs Shares ₦1.703 Trillion January 2025 Revenue.
National News

OAGF Urges Stakeholders to Verify Information before making Public Statements. 

September 17, 2025
Residents near the Kaduna River Basin are advised that Shiroro Dam will discharge excess water during the 2025 Wet Season.
National News

Residents near the Kaduna River Basin are advised that Shiroro Dam will discharge excess water during the 2025 Wet Season.

September 16, 2025
Police Arrest 19 Individuals in Connection with IBBUL Student Attack; Seven Suspects Identified in Criminal Conspiracy
National News

Police Arrest 19 Individuals in Connection with IBBUL Student Attack; Seven Suspects Identified in Criminal Conspiracy

September 16, 2025
Federal High Court Orders Final Forfeiture of $7 Million Linked to Suspicious Transactions. 
National News

Federal High Court Orders Final Forfeiture of $7 Million Linked to Suspicious Transactions. 

September 15, 2025
Mass Defection: Over 10,000 APC and PDP Members Join African Democratic Congress in Benue State. 
National News

Mass Defection: Over 10,000 APC and PDP Members Join African Democratic Congress in Benue State. 

September 14, 2025
Next Post

MINNA - BIDA ROAD: NIGER GOVT. CONSTITUTES COMPENSATION COMMITTEE.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 139 Followers
  • 206k Subscribers
  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Minimum wage : Gov. Bago directs full  implementation using Fed Govt. template. 

Minimum wage : Gov. Bago directs full  implementation using Fed Govt. template. 

November 3, 2024
Niger State Govt. commences payment of gratuities to Retirees.

Niger State Govt. commences payment of gratuities to Retirees.

May 22, 2025
Gov. Bago Sympathizes with Nigeria Army,reassures to curb insecurity in the State. 

Farmer Governor Umar Bago to increase workers salary by 35 percent – insider source

December 22, 2024
Four hundred level Student of IBBUL brutally attacked by her Ex-boy friend,damaged her eyes.

Four hundred level Student of IBBUL brutally attacked by her Ex-boy friend,damaged her eyes.

February 23, 2025

FAAC SHARES N 1,149.816 TRILLION JANUARY 2024 REVENUE TO FG, STATES AND LGCS

2

THE PRESIDENT DOKO PROGRESSIVE FORUM (DPF) CALLS FOR CALM.

2

NUT Niger state branch Felicitate Emir of Kagara on his presentation of staff of Office and Coronation.

1

Medical and Health Workers Union of Nigeria,Niger State Council. Felicitates Governor and His Deputy on their Inauguration..

1
VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

September 17, 2025
NSHA Public Accounts Committee Begins Hearings on Financial Statements from the Auditor-General for Local Government. 

Niger State House of Assembly Seeks Stakeholder Input on Bill to Regulate Scavenger and Panteka Businesses in Residential Areas

September 17, 2025
FG, States, LGCs Share N2.2 Trillion from August 2025 Revenue

FG, States, LGCs Share N2.2 Trillion from August 2025 Revenue

September 17, 2025
FG, States, LGAs Shares ₦1.703 Trillion January 2025 Revenue.

OAGF Urges Stakeholders to Verify Information before making Public Statements. 

September 17, 2025

Recent News

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

September 17, 2025
NSHA Public Accounts Committee Begins Hearings on Financial Statements from the Auditor-General for Local Government. 

Niger State House of Assembly Seeks Stakeholder Input on Bill to Regulate Scavenger and Panteka Businesses in Residential Areas

September 17, 2025
FG, States, LGCs Share N2.2 Trillion from August 2025 Revenue

FG, States, LGCs Share N2.2 Trillion from August 2025 Revenue

September 17, 2025
FG, States, LGAs Shares ₦1.703 Trillion January 2025 Revenue.

OAGF Urges Stakeholders to Verify Information before making Public Statements. 

September 17, 2025

Follow Us

Browse by Category

  • Business
  • Crime
  • Education
  • Health
  • National News
  • Niger State Governor
  • Opinions
  • Politics
  • Sports
  • Uncategorized
  • World News

Recent News

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

VCDP trains rural women, youth leaders in agriculture with skills to engage policymakers to secure support. 

September 17, 2025
NSHA Public Accounts Committee Begins Hearings on Financial Statements from the Auditor-General for Local Government. 

Niger State House of Assembly Seeks Stakeholder Input on Bill to Regulate Scavenger and Panteka Businesses in Residential Areas

September 17, 2025
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business

© 2024 All Rights Reserved

No Result
View All Result
  • Home
  • National News
  • Education
  • Health
  • Crime
  • Opinions
  • Politics
  • World News
  • Niger State Governor
  • Sports
  • Business

© 2024 All Rights Reserved