ASHENEWS reports that the Coalition of Northern Groups (CNG) has felicitated with Mr. Zacch Adedeji on his appointment as the Executive Chairman of the Federal Inland Revenue Service (FIRS) by President Bola Tinubu.
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Just when we thought the peak in tax collection was attained, the Federal Inland Revenue Service (FIRS) brought forward another harvest of revenue collection, peaking any collection in our nation’s history. The tax agency recently announced a total tax revenue collection of N5.5 trillion for the half-year period of January to June 2023 signifying the highest tax revenue collection ever recorded by the Service in any first six months of a fiscal year.
Anybody who knew the Federal Inland Revenue Service (FIRS) before the advent of the administration of Muhammad Nami would in all fairness concede that he has remarkably used his salient administrative skills to improve the operations of the apex tax body. His dexterity in achieving an upward swing in revenue generation has much to do with his administrative skills than the deployment of technology.
It is akin to a revolution: welcome to the big paradigm shift in Nigeria’s tax collection. The shift is from consistently low, inadequate and below targeted tax collection to a record-setting collection of N10.1 trillion in 2022. And the trend of raking in more revenue to finance people-oriented projects continues.
For any one who has paid more than a passing attention to the activities of the Federal Inland Revenue Service (FIRS) in the last four years, the agency’s tax collection receipt in the first six months of 2023 would certainly not be surprising.
ASHENEWS reports that the Federal Inland Revenue Service (FIRS), in the first half of 2023, collected a total tax revenue of N5.5 trillion, the highest tax revenue ever collected by the Service in similar period.
It is common knowledge that taxation plays a vital role in the economic development of every country whether developed, developing or under developed, and Nigeria is no exception. Government at all levels depends on the tax it collects to run the affairs of the State and it is the duty of every taxable citizen to contribute their quota to this effect. Without taxes, there can be no country.
The council also proposed the merger of the Federal Inland Revenue Service (FIRS), Nigerian Customs Service (NCS), and the Nigerian Maritime Administration and Safety Agency (NIMASA) into the Nigerian Revenue Service (NRS) in order to enable an efficient collection of all direct and indirect taxes, as well as levies on behalf of the Federal Government.
ASHENEWS reports that the former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has called on the Department of State Services (DSS) to arrest and prosecute Chief Executive Officers of Ministries, Departments and Agencies (MDAs), known to have abused their offices through corrupt tendencies under ex-President Muhammadu Buhari.
Undoubtable too is that the growth of the revenue generation in the country is reliant on the strategies introduced by the man adjudged as one of the global best income-generators, Muhammad Nami.