• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FIRS Generates N12.374trn To Exceed 2023 Target

by Mark Itsibor
1 year ago
in News
FIRS
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The Federal Inland Revenue Service (FIRS) has announced the collection of N12.374 trillion as tax revenue for the federation in 2023, surpassing the year’s target of N10.7 trillion.

Giving a breakdown of the figures, one of the agency’s coordinating directors, Mrs Amina Ado, said oil revenue accounted for N3.17 trillion of the total takings, representing 25.6 percent, while non-oil revenue was 74.4 percent at N9.2 trillion.

The initial tax target of N10.7 trillion for 2023 was reviewed upwards to N11.5 trillion by the agency in view of the exchange rate, indicating that actual collection was surpassed by N817billion.

FIRS has a N19.4 trillion tax revenue target for 2024, a mark the chairman, Dr Zacch Adedeji, said is achievable with an effective tax collection system in place in a viable economic environment for businesses to prosper.

RELATED

Reform Or Retreat: A Moment For Northern States

Reform Or Retreat: A Moment For Northern States

1 hour ago
Political Analysts To PDP Leaders: Fix Now Or Allow Crisis Sink Your Party Before 2027

Political Analysts To PDP Leaders: Fix Now Or Allow Crisis Sink Your Party Before 2027

1 hour ago

FIRS said the increase in non-oil tax revenue for 2023 as against previous years came as a result of improved efficiency in tax collection.

Ahead of the set goals for 2024, Mr Adedeji said “We will focus on the fruits and not the seeds. We need to ensure we have that viable economic environment that will lead to economic prosperity. And for us at FIRS, it is just to put the system in place to aid effective collection.

 

“We are not a revenue-generating agency, but a revenue-collection agency. With the plan of President Bola Tinubu to rejuvenate the economy, companies are going to grow and prosper.”

 

Speaking earlier at a retreat for the management team of the FIRS, the FIRS chairman said “In a ground-breaking move, we are shifting away from traditional tax categorization. Instead of maintaining different departments for distinct tax categories, the new structure formulates taxpayer segments based on thresholds.”

In her own goodwill message, the Accountant-General of the Federation, Dr Oluwatoyin Madein, lauded the FIRS for contributing 70 per cent of the total revenues for the federation.

She, however, charged Dr Adedeji to challenge the status quo in his bid to increase tax revenue.

“We have seen a massive improvement in tax collection with the changes at FIRS over the years. The FIRS now contributes about 70% of the total federation revenues.

“Yet, a lot of tax revenues are left uncollected. The current tax base needs to be expanded while at the same time finding new and improved ways and means and “partnerships” that engender tax revenue growth.

“With strategic cooperation within FIRS and strategic partnerships, and by challenging the status quo, I am strongly convinced that FIRS can set a new standard for tax administration in Africa. If we continue to do business as usual, we continue to get the same level of results.

“This is my charge to the FIRS boss and all management staff – challenge the status quo!” she said.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: FIRS
SendShareTweetShare
Previous Post

Commission Resolves Dispute Between Kaduna Pension Bureau, Union

Next Post

Edo Guber: Ize-Iyamu, Airhiavbere, Others Defy Oshiomhole’s Committee

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Reform Or Retreat: A Moment For Northern States
Backpage

Reform Or Retreat: A Moment For Northern States

2025/07/01
Political Analysts To PDP Leaders: Fix Now Or Allow Crisis Sink Your Party Before 2027
Cover Stories

Political Analysts To PDP Leaders: Fix Now Or Allow Crisis Sink Your Party Before 2027

2025/07/01
KACCIMA: Dantata Inaugurates Interim Management Committee
News

Badaru Leads FG’s Delegation To S’Arabia As Dantata’s Burial Holds Today

2025/07/01
NCAA Grounds Rano Air After Engine Failure
Cover Stories

NCAA Grounds Rano Air After Engine Failure

2025/07/01
When 2015 Returns In 2023
Cover Stories

2027: Coalition Woos Ex-President Jonathan

2025/07/01
Nigeria Is In Our DNA, Says Lucian PM
News

Nigeria Is In Our DNA, Says Lucian PM

2025/06/30
Leadership Conference advertisement

LATEST

Reform Or Retreat: A Moment For Northern States

Political Analysts To PDP Leaders: Fix Now Or Allow Crisis Sink Your Party Before 2027

Badaru Leads FG’s Delegation To S’Arabia As Dantata’s Burial Holds Today

NCAA Grounds Rano Air After Engine Failure

2027: Coalition Woos Ex-President Jonathan

Nigeria Is In Our DNA, Says Lucian PM

Speed Darlington Threatens NAPTIP With N2.5bn Lawsuit For Declaring Him Wanted

Pastor, Woman Stripped Naked Over Alleged Infidelity In Edo

Ex-Lawmaker Mashood Mustapha Arraigned For Alleged Defamation Of Kwara Gov

Gwarzo Hails North’s First Clinical Pharmacy Prof, Hadiza Ma’aji, On Professorial Elevation

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.