Business Latest

FIRS records N282.10bn revenue target shortfall in Jan

FIRS opens 30-day window for taxpayers to obtain tax certificates

Nigeria’s principal revenue collection agency, the Federal Inland Revenue Service (FIRS) recorded a tax revenue performance of N338.1 billion in January this year, latest data on the sevice has shown.

The figure signals a N282.10 billion or 45.49% shortfall when set beside its target for the first month of the year, standing at N620.2 billion.

The FIRS has been mandated to amass N8.5trillion in tax income for 2020 by the Nigerian Government.

Performance at state level shows that Adamawa, Gombe and Taraba, who had been set a target of N1.497 billion for January, collected N2.237 billion, translating to 149.45% performance.

Out of the N2.175 billion target assigned to Bayelsa, Cross River and Akwa Ibom States, N2.010 billion was mobilised, indicating a 92.43% achievement.

Lagos Mainland East, which had been given a N50.272 billion target, reported a collection figure of N39.177 billion, representing 77.93% in achievement.

Read also: Nigerians spent N2.64tn of their income on petrol in 13 months —NNPC

Katsina, Kano and Jigawa collected N3.606 billion revenue well below a target of N5.204 billion, a 77.93% as a matter of fact.

Osun, Oyo and Ogun mobilised taxes worth N4.168 billion compared to a N6.268 billion target, implying 66.49% achievement.

Lagos Mainland West posted a 60.81% fiscal target performance, collecting N3.034 billion out of the N4.989 billion target it had been set.

Abia, Enugu and Ebonyi were apportioned N2.504 billion for collection but achieved 54.18%, translating to N1.356 billion.

Niger, Benue and Kaduna rallied revenue estimated at N2.003 billion out of the N3.849 billion they were mandated to collect, suggesting 52.05% performance.

Delta, Rivers and Edo States, collected N9.251 billion between them out of a N17.790 billion target meaning 52% was achieved.

Of the N459.549 billion assigned to Lagos Island, a collection of N238.709 billion was recorded, translating to 51.94%.

Borno, Plateau and Yobe States rallied N1.447 billion taxes out of the N2.793 billion revenue target they were given, representing 51.79% achievement.

Ronald Adamolekun

Join the conversation

Opinions

About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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