FIRS rakes in N10tr in 2022 – official
Economy National

FIRS rakes in N10tr in 2022 – official

By Our Correspondent

The Federal Inland Revenue Service (FIRS) says it generated N10 trillion in revenue in 2022, the highest in its history.

The Service gave the figures in its “FIRS 2022 Performance Update” released in Abuja on Monday.

Muhammad Nami, the Chairman, Chief Executive Officer of the Federal Inland Revenue Service


The CEO of FIRS, Muhammad Nami, released the document to the public after a briefing with President Muhammadu Buhari.

The reports said FIRS generated N5.96 trillion in non-oil sector and N4.09 trillion in oil sector against a target of N10.44 trillion.

“FIRS could not meet its target due to distractions and waivers,” Nami said.

According to him, the distractions came from government agencies through instituted court cases, petitions and judgments granted.

It reads: “FIRS, in 2022 collected N10.1 trillion in both oil (N4.09 trillion) and non-oil (N5.96 trillion) revenues as against a target of N10.44 trillion.

“Companies income tax contributed N2.83 trillion; VAT N2.51 trillion; electronic money transfer levy N125.67 billion and earmarked taxes N353.69 billion.





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