The Executive Chairman, Federal Inland Revenue Service
(FIRS), Tunde Fowler has disclosed how the agency generated N5 trillion as at
the second week of December 2018 since the start of the year.
In a statement released to the public, Fowler was quoted to
have said the FIRS was at the verge of making N5.3 trillion at the end of the
year.
The N5.3 trillion to be generated as revenue by year-end,
according to the agency, will be a record-breaking achievement in the history
of the FIRS.
It stated, “If the FIRS pools N5.3tn revenue, that will be
the highest revenue ever generated by FIRS in history. The highest in FIRS
history is N5.07tn generated in 2012.”
During an induction of new members of the Joint Tax Board in
Abuja, Fowler stated that FIRS had been able to record significant achievements
following maximum support from the Presidency, Ministry of Finance, the JTB and
other taxation stakeholders.
“This year, the FIRS, with the support of the Presidency,
Ministry of Finance, the JTB and other stakeholders, had been able to generate
up to N5tn. We believe that we should be able to close at least at N5.3tn which
should be the highest in the history of the FIRS.
“And we believe that with that additional revenue, the state
and federal governments would be able to provide more services and more
development to the people of Nigeria.” Fowler was quoted.
According to the statement, Fowler’s generation of N5
trillion was significant as it was at a period when oil prices oscillated
between $50 and $70 per barrel.
