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FIRS rakes in N6.4 trillion in 2021



FIRS generates record N6.4trn revenue in 2021

The Federal Internal Revenue Service (FIRS) collected around N6.4 trillion in taxes in 2021, the agency  Chief Executive, Muhammad Nami, revealed in Abuja on Wednesday. 

Speaking during a public presentation and breakdown of the highlights of the 2022 Appropriation Act, he explained that with the help of technology, FIRS collected more than 70 per cent of its target set for 2021.

“I assure Nigeria that we will do better in 2022. The figures will be released in full soon,” Nami said.

He added that the technology helped access taxpayer records and local and international exchange.

Meanwhile, NNPC group CEO Mele Kyari says the country now produces 1.74 million barrels of crude oil per day.

“Three months ago we went down to 1.5 million barrels per day due to safety concerns and we are responding.

“As of today, production has increased to 1.74 million barrels per day and there are ongoing interventions to improve the security situation.

“The expectations are that within a month we will reach 1.8 million barrels per day and exceed the limit within the year,” he said.

In his remarks, the chairman of the Senate Finance Committee, Senator Olamilekan Adeola, noted that there were challenges in raising revenue, but that harder work would improve the situation.

“We are rewriting history trying to return the government’s budget calendar to January-December and every December we make sure that the president approves the budget for the following year and we have succeeded for three years.

“This is a commendable achievement under this administration,” Adeola said. (VON)

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