Business Latest

FIRS accounts for 60% of Nigeria’s total revenue in three months — RMAFC

FIRS generates N5trn in 2018, wants to make history

The Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Mr Elias Mbam, has said the Federal Inland Revenue Service contributed 59.7 per cent of revenues to the federation account in the last three months.

Mbam, according to a statement from the FIRS, spoke on Thursday during a visit to the service by the commission.

Mbam, who led a team of RMAFC commissioners and other management members to the service, also noted that the commission and the FIRS would continue to collaborate for improved revenue collection.

He said, “I want to observe with pleasure that in the last three months, the FIRS has been the major contributor to the federation account.

“The average contribution from the FIRS in the last three months is about 59.7 per cent. In other words, more than half of the revenue shared to the three tiers of government comes from the FIRS.

“You would recall that sometime in June, you were present when the members of the Revenue Mobilisation, Allocation and Fiscal Commission were sworn in.

Read also: NNPC eyes 5 billion cubic feet gas growth by 2020

“They have all assumed duty. And in order to understand the terrain, they needed to familiarise themselves with major stakeholders of the commission, the activities they do so as to aid them in their work. One of our major stakeholders is the FIRS.

“We are here to familiarise ourselves with your activities, to know areas of collaboration, your challenges, which we will also help to pass to the Federal Government.

“We also want to know where we can be of help. We are all working for the same government and our work is collaborative.”

The Executive Chairman of the FIRS, Tunde Fowler, noted that the service would continue to do its best to generate revenue to fund the three tiers of government.

Fowler said the agency would continue to deliver quality services in tax administration in Nigeria.

He added, “We are deploying technologies to make it easy for taxpayers to pay their taxes conveniently, even from the comfort of their homes or offices, download tax receipts and do other transactions with the FIRS without visiting the tax office.”

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!