Updated: FIRS targets N5.9tn revenue in 2021, collects N4.9tn in 2020 despite COVID-19 effects

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• Pix: Mr. Muhammad Nami, Executive Chairman, FIRS
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The Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has informed that the Service targets revenue collection of N5.9 trillion in 2021.

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Nami announced the target of consolidation in Abuja while defending the Service’s 2021 budget before the House of Representatives Committee on Finance.

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He said the 2021 budget was tailored to reposition the Service for a more effective tax collection for all tiers of government as strategies had been put in place to enable electric tax collection, with a view to enhancing compliance with COVID-19 safety protocol of social distancing.
Nami said that the FIRS would also deepen synergy with its state counterparts to generate more revenue for the country, informing that N289 billion was earmarked for the operations of the Service in 2021.

He explained that revenue collection anticipation was N8.5 trillion, but was reviewed to N5.3 trillion as COVID-19 reared its head.

Nami said notwithstanding the nationwide lockdown of 2020 and the adverse effects of the pandemic, the Service was able to collect N4.9 trillion in revenues, stressing that, of the projected N180 million non-oil revenue, the Service was able to collect N130 million.

Against the backdrop of 60 per cent of its workforce staying at home since the advent of COVID-19, the FIRS chairman also announced that the Service would not be recruiting new employees in 2021, noting that this will take place in due course./SHARE THIS

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