The Federal Inland Revenue Service (FIRS) says it has generated 1.78 trillion naira in tax revenue between January and July this year.
The Executive Chairman at FIRS, Mr. Tunde Fowler, who gave this information while defending the agency’s budget before the Senate Committee on Finance in Abuja, says this represents an increase in tax revenue of N224.14 billion compared to 2016.
The FIRS boss also mentioned raising the current 828-billion-naira annual value added tax collection to 1.8 trillion naira this year.
The agency has also set tax revenue targets for 2017 based on the Federal Government’s 2016-2018 medium term revenue framework amounting to 4.89 trillion naira. (Channels TV)