Chairman, Federal Inland Revenue Service, FIRS, Muhammad Nami says it has collected N7.5 trillion taxes in 2022 and also surpassed the Tertiary Education Tax, EDT fund target for the year with N4 billion.
Nami stated this during its 2022 Tertiary Education Fund, TETFUND/FIRS joint interactive forum in Kano.
The FIRS boss who was represented by the Kano State Coordinator, Hassan Sule said the Tertiary Education Tax, EDT target for 2022 was N305 billion but as at September 2022, it has collected N309 billion.
According to him, “It is noteworthy that despite the economic headwinds, particularly from the negative consequences of Covid-19, rising insecurity and the spill-over effects of the Russia-Ukraine war on the global economy, FIRS has continued to make progress in revenue mobilization for the three tiers of government, suffice to say that the FIRS is now funding a significant portion of the Federal Account Allocation Committee, FAAC in the last 2 years.
“Between January to September 2022, FIRS has collected N7.5 trillion which is a significant improvement on the total collection of N6.4 trillion for the entire 2021. Non-oil taxes accounted for N4.3 trillion while petroleum profits tax accounted for N3.1 trillion. It is clear that the reforms undertaken since 2020 have started yielding the desired results.