FIRS Achieves N3.94trn Revenue in Q1 2024

FIRS's revenue in the first quarter of 2024 was N3.94 trillion

The first quarter of 2024 saw N3.94 trillion in tax income collected by the Federal Inland income Service (FIRS).

This was disclosed in Abuja by Dr. Zacch Adedeji, the Chairman of the FIRS, albeit the revenue fell short of the N4.8 trillion quarterly target set by the Service.

This first quarter's performance is an astounding 56.7 percent improvement over the same quarter in 2023.

Adedeji underscored the Service's resolve to stepping up efforts for the remainder of the year in order to meet its ambitious N19.4 trillion revenue target for 2024.

He also presented the service's strategic objective, which aims to remove barriers for company growth and foster an environment that is favorable to it.

He also presented the service's strategic goal, which aims to remove barriers for corporate entities and ensure a customer-friendly, approachable, and growth-supportive tax administration in order to foster an atmosphere that is favorable to growth.

He declared that the FIRS is unwavering in its commitment to advancing revenue collection and advancing Nigeria's economy. The service hopes to go above and beyond expectations and promote a prosperous business environment in the nation via continuous collaboration and a dedication to excellence.

He said: “Over the years through the various administrations, the service has maintained its mandate of generating revenue and meeting government's targets.

“We will continue to make giants stride, and we take pride in meeting and surpassing our revenue collection targets for the federation with constant collaboration with stakeholders like the CRMI.

“We have resolved to create an environment of growth by removing every obstacle in the way of corporate entities and ensure a tax administration that is friendly, customer-centric, and ready to help businesses to bear more fruits.”