FIRS 2019 revenue, N3.7 trn below target
The total revenue of the Federal Inland Revenue Service (FIRS) for the 2019 fiscal year fell below target, as a total of N5 trillion was generated as against it’s N8.8 trillion target for the year.
Muhammad Nami, The Executive Chairman, FIRS, in an internal memo expressed concern over the dwindling revenue performance, despite increase in the service workforce over the period as the shortfall of about N3.7 trillion represented over 40 percent of the total revenue projected.
FIRS with a total revenue projection of N45.7 trillion between 2011 and 2019, generated about N40.5 trillion, recording a deficit of over N5.2 trillion within the period, with an increase in numerical strength from 6,445 staff in 2011 to 9,448 in 2019.
The Chairman, encouraged staff to redouble efforts towards achieving its target in 2020 noting that the service in 2012 surpassed its revenue target of N3.6 trillion when it generated N4.6 trillion without the active participation of consultants and with moderate inflation and exchange rate.
“I want to be positive that this impressive performance is achievable again, it should be pondered upon during the holiday so that you would resume refreshed and better prepared to serve”.
“It is observed that despite the rise in service workforce, the engagement of consultants, the rise in inflation and the exchange rates, the tax revenue collection continues to dwindle”, he said.
The Chairman, urged the staff to take advantage of the current staff-friendly environment to redouble their efforts to reverse the downward trend in revenue generation as well as ensure that the current target of N8.5 trillion is not only achieved but also doubled before the end of 2020.
He warned staff to desist from negotiating with taxpayers and siphoning tax revenues meant for the federal government.
“No doubt the task is daunting but with dogged spirit, integrity, probity and accountability as well as resolve not to negotiate with taxpayers, and pocket the revenue due to the federal government, the current challenges can be surmounted and our ambitious target achieved or surpassed”.
Cynthia Egboboh, Abuja.