The Federal Capital Territory Internal Revenue Service has reported a revenue collection of ₦126,535,768,441.30 for the first half of 2024.
According to The PUNCH, this announcement was made by the Chairman of FCT-IRS, Haruna Abdullahi, during a mid-year press briefing held at the agency’s office in Garki on Monday.
In 2023, the FCT-IRS collected over ₦203 billion, marking a 63% increase from the ₦124 billion collected in 2022.
This achievement surpassed their target of ₦200 billion for the year and set a new target of ₦250 billion for 2024.
Acting Director of Tax, Chinwe Anohu-Ndu, who represented Abdullahi, shared that the mid-year collection for 2024 shows a 53.5% increase compared to the same period in 2023, with an additional ₦44,076,516,599.50 compared to the ₦82,459,251,841.80 collected in the first half of 2023. The collection is also 119.7% higher than the ₦57,599,924,110.20 collected in mid-2022.
Abdullahi expressed delight in the growth, stating, “Ladies and gentlemen, I am delighted to inform you that the FCT-IRS, in the first half of the year – between January and June – has collected and remitted the sum of ₦126,535,768,441.30.”
He further noted, “We are pleased to report that our mid-year collection for 2024 is 53.5% higher than our mid-year collection for 2023. The collection is higher by ₦44,076,516,599.50 compared to the ₦82,459,251,841.80 realised in the first half of 2023.”
Additionally, Abdullahi highlighted, “It is 119.7% higher than the mid-year collection of 2022; the collection in 2024 is ₦68,935,844,331.10 higher compared to the ₦57,599,924,110.20 collected in 2022. This trend indicates year-on-year growth.”
He attributed the growth to the agency’s effective use of technology and its high compliance rate among taxpayers in the FCT.
The FCT-IRS stated, “This stellar growth highlights our commitment and determination to overcome obstacles while striving to boost revenue generation. The Service achieved such impressive results within six months amidst economic challenges by leveraging technology and building one of the most functional e-service portals in the revenue sector.”
He concluded with an appeal for continued voluntary compliance, stating, “We also owe this accomplishment to the high compliance rate of taxpayers in the FCT. We urge everyone to continue choosing voluntary compliance over compulsion.”
