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FIRS rakes in N338.1bn revenue in January 2020

FIRS rakes in N338.1bn revenue in January 2020

The Federal Inland Revenue Service (FIRS ) has collected the sum of N338.1 billion revenue for January 2020 as against N620.2 billion tax target for the month. The figures represent the aggregate collection by states’ coordinating units on monthly basis. The VANGUARD reports

Recall that the new Executive Chairman of FIRS, Mr Muhammad Nami, was given a tax collection target of N8.5 trillion for 2020 fiscal year.

The document indicated that the state coordinating units of Adamawa, Gombe and Taraba had January target of N1, 496,937,795.22 but collected N2, 237,217,349.37 represented 149.45 per cent collection.

It disclosed that Akwa Ibom, Bayelsa, and Cross River had a monthly target of N2,175,116,159.19 but their actual collection in January was N2,010,374,940.81 which represented 92.43 per cent.

Lagos Mainland East had January target of N50,272,057,644.57 but its actual collection of N39,177,218,569.19 amounted to 77.93 per cent.

Jigawa, Kano and Katsina had collection target of N5,203,823,553.44. Their actual collection was N3,606,224,711.59 representing 77.93 per cent. Ogun, Osun and Oyo had target of N6,268,435,732.91 while their actual collection during the period stood at N4,167,880,594.20, indicating 66.49 per cent collection.

According to the document, Lagos Mainland West was given a January target of N4,988,901,182.24 but collected N3,033,847,030.11 representing 60.81 per cent.

It added that Abia, Ebonyi and Enugu had a target of N2,503,697,840.31 but they were able to collect N1,356,428,894.51, which represented 54.18 per cent.

“Benue, Kaduna and Niger had tax collection target of N3,848,560,125.77, they made actual collection of N2,003,203,450.93 indicating 52.05 per cent. Delta, Edo and Rivers collectively had January target of N17,790,368,169.50 but recorded actual collection of N9,251,413, 039.13 indicating 52 percent.

“Lagos Island was given a target of N459,548,646,637.50 in January, but it collected the sum of N238,708,658,042.72 translating to 51.94 per cent. Bauchi, Plateau, Borno and Yobe had a collection target of N2,793,435,123,22, but their actual collection was N1,446,670,932.56 indicating 51.79 per cent.

“The FCT, Nasarawa and Kogi had the target sum of N61,680,175,079.81, but collected a total of N30,248,678,333.46 representing 49.04 per cent. Ekiti, Kwara and Ondo had tax collection target of N1,726,864,502.79, but ended up with actual collection of N757,471,765.95 representing 43.86 per cent.

“Sokoto, Kebbi and Zamfara were mandated to collect N1,457,022,041.29 tax, their actual collection was N532,837,594.78 indicating 36.57 per cent while Anambra and Imo had target sum of N1,457,022,041.29, actual collection sum of N384, 986,673.78 reflecting 26.42 per cent” it explained.

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