FG Eyes Improved Tax Revenue under New FIRS Board

The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, has expressed confidence that the Federal Inland Revenue Service (FIRS), under its new Executive Chairman, Mr. Mohammed Nami, will be able to meet and surpass the federal government revenue targets on taxation.

He said the administration of President Muhammadu Buhari needed all the money to enable it deliver on his mandate to Nigerians.

Speaking when he received the new FIRS chairman, who paid him a courtesy visit in his office, the SGF also encouraged the former and the board to succeed in their mandate.

Mustapha, who also presented Nami with his letter of appointment together with those of the newly inaugurated members of the board, further congratulated them, expressing confidence that FIRS will meet and exceed government revenue targets from taxation under his watch.

Specifically, the SGF urged the executive chairman to be proactive in his tax collection drive, stressing that the current huge funding gap had compelled the government to resort to borrowing in recent times.

He added that if more revenue could be generated from taxation, there would be less need for the government to borrow.

Mustapha further stressed that as a cost-cutting measure in governance, the federal government had recently directed its officials, particularly ministers, to reduce the number of aides who travel with them.

He also decried a situation where the overhead cost of governance far outweighed capital expenditure.

The service generated a total sum of about N5 trillion in 2019, which fell short of its projected revenue collection of about N8.8 trillion, thus posting a shortfall of about N3.7 trillion for the year under the immediate-past administration of Tunde Fowler.

Nami, in a Christmas message to his staff, particularly expressed concern over the dwindling revenue performance despite increase in the service workforce over the period, and encouraged them  to redouble efforts towards achieving its target in 2020.

Meanwhile, the service has targeted to raise N8.5 trillion this year.