The Federal Inland Revenue Service, FIRS, says it realised a total sum of N3.94 trillion as tax revenue in the first quarter of 2024.
Zacch Adedeji, FIRS executive chairman, announced the revenue figure on May 15.
Speaking during a courtesy visit from the leadership of the Chartered Risk Management Institute of Nigeria, CRMI, led by Ezekiel Oseni, its president, to FIRS headquarters in Abuja, Mr. Zacch Adedeji, the FIRS Chairman, who was represented by Tayo Koleosho, his Chief of Staff, said the performance in Q1 represents a 56.7 percent increase compared to the figure recorded in the corresponding period of 2023.
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He said the FIRS Q1 revenue target is N4.8 trillion, and the Service would need to intensify its efforts in the remaining months of the year to meet its N19.4 trillion target for 2024.
On May 15, the Federal Government said tax revenue is its highest source of income.
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