For the first quarter of 2024, the Federal Inland Revenue Service (FIRS) generated N3.94 trillion in tax income, falling short of its target of N4.8 trillion.
This was revealed by FIRS chairman Zacch Adedeji during an event in Abuja when he hosted a delegation from the Chartered Risk Management Institute of Nigeria.
The agency’s performance in the first three months of 2023 is 56.7 percent better than Q1 2023.
In the meantime, the head of FIRS has reaffirmed his commitment to reaching the ambitious N19.4 trillion objective for this year, emphasizing continuous efforts to make it achievable.
Adedeji, who was well-represented by his chief of staff Tayo Koleosho, declared that the FIRS was committed to fulfilling government targets and generating money as per its mission.
In order to promote the country’s economic progress, he indicated his willingness to work with partners like the Chartered Risk Management Institute of Nigeria.
“The service has maintained its mandate of generating revenue and meeting government’s targets over the years, through various administrations,” he stated.
“With continuous collaboration with stakeholders like the CRMI, we will continue to make giant strides, and we take pride in meeting and surpassing our revenue collection targets for the federation,” Adedeji continued.
Additionally, the head of FIRS has promised to provide tax-friendly administration and remove obstacles from corporate organizations’ path to foster an environment that would spur growth.
With this resolve, he continued, businesses would expand and the country’s economy would prosper.
