FIRS Meets Only 55% Tax Target in January 2020

March 23, 2020
FIRS revenue

By Adedapo Adesanya

The Federal Inland Revenue Service (FIRS) was unable to fully meet its N620.2 billion tax targets set for the month of January 2020 as it only actualised 55 percent, N338.1 billion.

Tthe tax body on Sunday noted that the figure represents the aggregate collection of taxes by its states coordinating units on a monthly basis.

According to the body, Lagos Mainland West was given a January target of N4,988,901,182.24 but collected N3,033,847,030.11 representing 60.81 percent, Lagos Mainland East had a target of N50,272,057,644.57 in the month but its actual collection of N39,177,218,569.19 amounted to 77.93 percent while Lagos Island was given a target of N459,548,646,637.50 in January, but it collected the sum of N238,708,658,042.72 translating to 51.94 percent.

In some other South Western states, Ogun, Osun and Oyo all had target of N6,268,435,732.91 while their actual collection during the period stood at N4,167,880,594.20, indicating 66.49 percent collection.

Ekiti, Kwara and Ondo had tax collection target of N1,726,864,502.79 in the first month of the year, but ended up with actual collection of N757, 471,765.95 representing 43.86 percent.

The FCT, Nasarawa and Kogi had the target sum of N61,680,175,079.81, but collected a total of N30,248,678,333.46 representing 49.04 percent. Jigawa, Kano and Katsina had a collection target of N5,203,823,553.44 but their actual collection was N3, 606,224,711.59 representing 77.93 percent.

In the South-South, Akwa Ibom, Bayelsa and Cross River had a monthly target of N2,175,116,159.19 but their actual collection in January was N2,010,374,940.81 which represented 92.43 percent. Delta, Edo and Rivers collectively had a target of N17,790,368,169.50 but recorded an actual collection of N9,251,413, 039.13 indicating 52 percent.

In the South East, Abia, Ebonyi and Enugu States there was a target of N2,503,697,840.31 but they were only able to collect N1,356,428,894.51, which represented 54.18 percent while Anambra and Imo had a target of N1,457,022,041.29 but only colelcted 26.42 percent amounting to N384, 986,673.78 in January.

Benue, Kaduna and Niger had tax collection target of N3,848,560,125.77, but they made actual collection of N2, 003,203,450.93 indicating 52.05 percent. Bauchi, Plateau, Borno and Yobe had a collection target of N2, 793, 435, 123, 22, but their actual collection was N1, 446,670,932.56 indicating 51.79 percent for the month.

It was, however, noted only the collective states of Adamawa, Gombe and Taraba exceeded total target of N1, 496,937,795.22 in January as it collected N2, 237,217,349.37 representing 149.45 percent collection.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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