The Chairman of the Federal Inland Revenue Service (FIRS), Mr. Mohammed Nami announced to News Agencies that the Revenue Service achieved in the year 2020, 98% of the target given them by the Federal Government.
The Chairman announced this at the First Press Briefing of the year 2021 on Tuesday, stating the challenges he faced inherited when he took up the office, he triumphed over them thanks to his dedicated team members nationwide and the Tax payers that remitted the indirect taxes paid to them.
He explained that the situation of the service was in complete disarray with many of the staff having low morals due to lack of promotion, little welfare and improper remuneration. He also complained about the Covid-19 effect on the economy with the lock down that caused many businesses to shut down, crude oil was also at its lowest.
Fortunately he said, Non-oil tax revenue generated almost 70% of the year target, with 109%, 9% higher than the previous year. 30.6 percent was generated from the oil sector.
A total of 4,952,244,711,728.37 was generated with the target of 5 trillion Naira. Mr. Nami called on Nigerians and business owners to collaborate with the service in generating revenue for the economy, “the money you pay as tax comes back to you in different forms”, he said.