The Federal Inland Revenue Service (FIRS) did not meet its tax revenue target for the first quarter of 2024, collecting N3.94 trillion instead of the projected N4.8 trillion. Zacch Adedeji, the FIRS chairman, revealed this during a meeting with the Chartered Risk Management Institute of Nigeria in Abuja. Despite the shortfall, Adedeji emphasized the FIRS’s dedication to achieving its ambitious annual goal of N19.4 trillion.
Adedeji, represented by his chief of staff, Tayo Koleosho, reaffirmed the FIRS’s commitment to revenue generation and meeting government targets. He expressed the agency’s readiness to collaborate with stakeholders like the Chartered Risk Management Institute of Nigeria to foster economic growth. Highlighting the FIRS’s consistent performance across various administrations, he assured continued efforts to meet and surpass revenue collection targets.
Additionally, Adedeji assured that the FIRS will work to create a business-friendly environment by removing obstacles for corporate entities and ensuring a tax-friendly administration. He believes that these efforts will support business growth and contribute to the nation’s economic prosperity.
Source: Business Day