FIRS’s Progressive And Impressive Tax Collection Deserves Commendation
It is not in doubt that the FIRS Executive Chairman, Muhammad Mamman Nami is set to write his name and that of FIRS in gold. Since coming on board as FIRS ‘s CEO, Nami has proved his mettle, his worth and an asset to the country.
Newspaper reports recently were awash with another unprecedented achievement by FIRS in tax collection which indicated that it raked in a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023.
This is the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year.
Muhammad Nami, FIRS Executive Chairman stated this while presenting the 2023-2024 tax revenue outlook to the National Economic Council at its meeting at the Presidential Villa, Abuja in July 2023
The presentation showed that the FIRS achieved over 100% of its target for the first-half of the year when compared with a mid-year target of N5.3 trillion. What a landmark achievement all brought about by Nami’s doggednes, commitment, experience and professional conduct.
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 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 despite stubborn headwinds such as the impact of the currency redesign and 2023 General Elections.
It is heart warming niting that the half-year performance was achieved due to 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 FIRS’s dogged engagement with stakeholders in both the formal and informal sectors of the economy.
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.
Even Johannes Oluwatobi Wojuola, Special Assistant to the FIRS Executive Chairman on Media & Communication noted that this Is the highest recorded by the service In any first 6 months of a fiscal year In the history of Nigeria.
Indeed the FIRS’s progressive and impressive tax collection deserves accolades from all and sundry.
May FIRS and Nigeria continue to succeed in the country’s tax generation and collection Agenda.
MUSA ILALLAH EMEKA ANYAOKU STREET, ABUJA
musahk123@yahoo.com
