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FIRS Generated N10.1trn Revenue In 2022, ‘Agency’s Highest Record In History’

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The Federal Inland Revenue Service (FIRS) says it generated over N10 trillion as tax revenue in the year 2022.

Johannes Oluwatobi Wojuola, special assistant on media and communication to the chairman of FIRS, said this in a statement on Monday.

Wojuola said the figure is the highest tax collection ever recorded in the agency’s history.

He added that the agency achieved over 96 percent of its collection target for the year.

Giving a breakdown of the N10.1 trillion generated, Wojuola said non-oil taxes contributed 59 percent of the total collection in the year, while oil tax collection stood at 41 percent of total collection.

“The FIRS, in the year 2022 collected a total of N10.1 trillion in both oil (N4.09 trillion) and non-oil (N5.96 trillion) revenues as against a target of N10.44 trillion,” the statement reads.

“Companies income tax contributed N2.83 trillion, value-added tax N2.51 trillion, electronic money transfer levy N125.67 billion, and earmarked taxes N353.69 billion.”

Citing the FIRS 2022 performance update report, Wojuola said a sum of N146.27 billion is included in the total revenue figure.

He explained that the sum (N146.27 billion) is the total value of certificates issued by the service to private investors and NNPC under the road infrastructure development refurbishment investment tax credit scheme, created by executive order No. 007 of 2019.

The special assistant also noted that the N10.1 trillion is exclusive of tax waived on account of various tax incentives granted under the respective laws, which amounted to N1.8 trillion.

Commenting on the revenue inflow, Muhammad Nami, executive chairman of the FIRS, was quoted as saying the feat was made possible through “dogged implementation of strategic reforms over the past two years; a renewed commitment by officers of the service, accompanied with a boosted morale; as well as the innovative deployment of technology for automation of both tax administration and operational processes”.

“This collection was possible through collaboration with our stakeholders, from our colleagues at the executive branch of government, to the members of the judiciary, to our brothers and sisters at the national assembly, as well as the tax advisory committee, professional bodies, unions, and most crucially our taxpayers,” he said.

BIG STORY

JUST IN: Chaos At PDP Caucus Meeting As Security Operatives Forcefully Eject Members [VIDEO]

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The caucus meeting of the Peoples Democratic Party (PDP) turned chaotic on Monday after security operatives forcefully removed some members from the national executive committee (NEC) hall.

The meeting was scheduled to take place at the NEC hall of the party’s headquarters in Abuja, with members already arriving at the venue.

Two individuals were ejected by security personnel following claims by some protocol officers that they had no authorization to be present at the meeting.

During the confrontation, a glass door was broken while the members were being dragged out.

“Are you NWC member?” shouted Chinwe Nnorom, national director of publicity, before the individuals were taken out of the venue.

Earlier in the day, security personnel had taken control of the PDP headquarters and stopped members of the board of trustees (BoT) from accessing the NEC hall for their scheduled meeting.

As a result, the BoT moved their meeting to the Yar’Adua Centre located in the central business district of Abuja.

In recent weeks, the PDP has been embroiled in increasing drama and new developments amid its internal crisis.

Watch VIDEO HERE

 

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BIG STORY

BREAKING: Security Operatives Block PDP BoT From Meeting At Party Headquarters

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Security operatives have barred members of the Peoples Democratic Party (PDP) Board of Trustees (BoT) from holding their meeting at the party’s national headquarters in Abuja.

The security personnel stopped the BoT members from accessing the National Executive Committee (NEC) hall where the meeting was scheduled to take place on Monday morning.

The BoT has subsequently relocated the meeting to the Yar’Adua Centre in Abuja’s Central Business District.

 

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BIG STORY

Nigerian Medical Student Hails “Inspiring” Encounter With President Tinubu, St. Lucian PM Pierre

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For Nigerian medical student Bob Chikwem Amadi, what started as a routine work assignment turned into an unforgettable experience with two world leaders — President Bola Ahmed Tinubu of Nigeria and Prime Minister Philip J. Pierre of Saint Lucia.

Amadi, currently studying medicine at the American International University in Saint Lucia, was part of the service team present during President Tinubu’s courtesy call to Prime Minister Pierre’s official residence on the second day of the Nigerian president’s state visit to the Caribbean nation.

Originally from Rivers State, Amadi has lived in Saint Lucia for ten years and recently completed the four-year basic phase of his medical education. He is now preparing to begin his clinical training.

Alongside his studies, Amadi also works part-time as a talent and brand manager with a local catering and entertainment company — a role that brought him close to the high-level diplomatic event.

During the visit, Prime Minister Pierre was informed by his aides that one of the staff members was a Nigerian student.

Taking a brief moment before his official engagements began, the prime minister introduced Amadi to President Tinubu.

The president, known for his engaging nature and interest in Nigerians living abroad, took time to speak with the young student, asking about his name, background, and academic journey.

Tinubu extended his best wishes and words of encouragement, praising Amadi for his dedication to his studies overseas.

Describing the experience, Amadi said it was “an inspiring moment” for him.

“Saint Lucia is an amazing island. I will describe it as a wonderful place. They are a very contented society and things are relatively calm”, he said.

The moment was capped off when Amadi was invited to join President Tinubu and Prime Minister Pierre for a group photograph — a symbolic and memorable close to a chance meeting with two major political leaders from Africa and the Caribbean.

Amadi also reflected on the strong historical and cultural ties between Nigeria and Saint Lucia.

“We have always hoped that there are many opportunities between Saint Lucia and Nigeria. We share similar food crops and culture, and the connection is deep”, he said.

President Tinubu’s visit to Saint Lucia marks the beginning of a broader diplomatic tour of the Caribbean and South America, focused on enhancing trade, cultural ties, and diplomatic collaboration between Nigeria and Caribbean countries.

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