Business

FIRS targets N10.1trn revenue in 2022, says Nami

Published

5 years ago

August 19, 2021

The Federal Inland Revenue Service (FIRS) has projected generating N10.1 trillion revenue for the 2022 financial year, according to its chairman, Muhammad Nami.

Nami stated this when he appeared before the House of Representatives Committee on Finance on Wednesday, in Abuja, at a public hearing by the committee on the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

He said that the N10.1 trillion was the global figure projected to be generated and remitted to the Federal Government in 2022 by the FIRS, the agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government.

Rep James Faleke, the chairman of the committee, urged the FIRS management to put in the required determination, to ensure that the target was met.

He also commended the previous effort of the FIRS at ensuring that their revenue generation targets were met, while urging the service to strive to do more in its revenue generation mandate.

The lawmaker had earlier described the MTEF and FSP, with a three year plan, as a major feature of the annual budget preparation cycle, saying that it provided the basic estimates and assumptions for the annual budget.