• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 26, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

FIRS generates N5.5trn in 6 months

FIRS

The Matters Press by The Matters Press
July 21, 2023
Reading Time: 2 mins read
0
FIRS generates N4.2tn in 10 months

Abuja, July 21, 2023: The Federal Inland Revenue Service (FIRS) has announced a tax revenue collection of N5.5 trillion for the half-year period of January to June 2023.

RELATED POSTS

N1.5trn recapitalisation of Agric bank will herald food security – TMV

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

This is contained in a statement issued in Abuja on Thursday by Mr Johannes Wojuola, Special Assistant on Media and Communication to the Executive Chairman of FIRS, Mr Muhammad Nami.

The highest tax revenue collection recorded by FIRS in any first six months of a fiscal year.

Wojuola quoted Nami as saying this while presenting the 2023-2024 tax revenue outlook to the National Economic Council’s meeting at the Presidential Villa, Abuja.

According to him, the FIRS 2023 Half-Year Collection Report showed that the Service achieved over 100 per cent of its target for the first-half of the year when compared with a mid-year target of N5.3 trillion.

“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,’’ Nami said.

The FIRS boss further said that the Service collected N1.65 trillion tax revenue in June 2023.

“This sum is the highest tax revenue collected by the Service in any single month,’’ he said.

Nami attributed the performance to improved voluntary tax compliance enabled by the automation of FIRS tax administrative processes.

“This is a good head start as we work toward meeting our target for the year.

“It was achieved in spite of stubborn headwinds such as the impact of the currency redesign and 2023 general elections on the economy in the first and second quarters of 2023.

“This half-year performance was achieved as a result of improved voluntary tax compliance by taxpayers and the continued improvement of automation of our tax administration processes including the updated VAT filing processes.

“This includes our dogged engagement with stakeholders in both the formal and informal sectors of the economy,” he said.

Commenting on the outlook for the remaining half of the year, the FIRS boss assured that the country should expect better days ahead in terms of tax revenue collection.

“We believe that the performance in the second half of the year would be better considering the continuing improvement to our tax administration processes and positive impact of current government’s policies on the economy,” he said.

FIRS achieved a total collection of N10.1 trillion in 2022 being the highest tax collection made in a single year.

Tags: FIRS
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Next Post
Customs generates N493.75bn in TinCan Island

Customs Service seizes goods with payable duty of N1bn

Nigeria gets AfDB’s $14m as member of ATI

AfDB approves $1bn exposure exchange with Asian development bank

Recommended Stories

Africa’s digital economy projected to rise as Nigeria launches I-DICE

March 17, 2023
Power line to energise part of Oyo

NEMSA working to ensure reliable power supply — Official

November 14, 2022
AfCFTA’s potential for enterprises dominates discussion

AfCFTA to spur Africa’s industrialisation, deepen regional integration

November 29, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • N1.5trn recapitalisation of Agric bank will herald food security – TMV
  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
  • Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us