FIRS Records 5 Trillion Naira in Tax Revenue In Six Months

The Federal Inland Revenue Service (FIRS) says it generated N5.5 trillion as tax revenue in the first half of 2023.

In a statement on Thursday, Johannes Oluwatobi Wojuola, special assistant on media and communication to the chairman of FIRS, said the figure is the highest tax collection ever recorded by the service in any first six months of a fiscal year.

Giving a breakdown of the tax revenue, Wojuola said the service achieved 88 percent of its target from oil revenue and exceeded its target for non-oil tax.

“Tax revenue collected from the oil sector from January to June 2023, stood at N2.03 trillion, as against a target of N2.3 trillion; while non-oil tax collection stood at N3.76 trillion, as against a target of N2.98 trillion,” he said

“The service collected a total of N1.65 trillion in tax revenues in June 2023. This sum is the highest tax revenue collected by the service in any single month.”


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