The chairman of Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has disclosed that the government revenue agency generated a total sum of N4 trillion as tax income in 2017, an increase of 21.7 percent from N3.3 trillion generated in 2016.
The FIRS boss disclosed this yesterday in Lagos while on a courtesy visit to the Oba of Lagos, Rilwan Akiolu. He said the agency enjoys the support and cooperation of the Lagos State government, with other government Ministries, Departments and Agencies (MDAs), in tax collection, as government renewed interest in generating revenue from non-oil sector, following the dwindling global oil prices.
“Just to put on record, with the support of the Finance committee of Senate, House of Representative, we were able to cross N4trillion tax collection for the financial year ended 2017. This was an increase of about 21.7 percent over 2016 figure. In 2016, we were able to generate N3.3 trillion,” Fowler said.
He explained that the visit was meant to commemorate the commencement of the annual stakeholders’ retreat that was organized by tax collection agency.
Mr. Fowler was accompanied by the chairman, Committee on Finance, John Enoh; The Chairman, Committee on Banking, Insurance and Other Financial Institutions, Rafiu Ibrahim, among other Senators and House of Representative members to the Oba’s palace yesterday.
