FIRS Contributing Significantly to FAAC, Says Muhammad Nami
- Nigeria's competing public needs amid dwindling resources have made payment of taxes by citizens very important
- FIRS, the agency responsible for assessing, collecting, and accounting for tax and other revenues is already doing its part by improving tax revenue in the country
- In 2021, the Federal Inland Revenue Service raked N6.4 trillion as revenue, the highest in its history under the leadership of Muhammad Nami
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FCT, Abuja - The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami, has revealed how the agency is contributing significantly to the Federation Account Allocation Committee (FAAC).
Nami made the comment during an interactive session with media executives on Monday, March 28, as part of activities to mark the 2022 Tax Week.
Source: Twitter
The FIRS boss noted that in February 2022, the total contribution to FAAC from the 774 local government areas in the country, including the Nigeria Customs, NNPC, DPR, ministry of mines and steel among others was N803 billion.
According to him, N513 billion out of the total amount was contributed by FIRS.
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He stated that the FIRS will continue to partner with the media to reach potential taxpayers, through enlightenment campaigns, stressing that such partnership will help in fulfilling tax mandates.
He added that the message from the media on taxation must be apt and targeted at the right public.
His words:
“The media remains a critical stakeholder in tax matters. We encourage you to support us and also encourage taxpayers to trust us with their tax payments which will translate into salaries, more infrastructures, and provision of basic amenities to citizens.”
Responding, the media executives pledged to support the FIRS in its quest to build on the successes achieved under Nami.
Imoni Amarere, the Executive Director, Daar Communications, said:
“In most developed democracies, it is taxation that propels and runs the budget of those countries. So we must support the FIRS on its quest to enlighten Nigerians on the need to pay their taxes.”
On his part, the Managing Director of Business Day newspaper, Dr. Ogho Okiti said:
“We support the work that you do, not just you personally, but also the FIRS. It is clear to everyone that we all ought to pay our taxes at all times.”
Dr. Okiti also commended Nami for meeting with media executives consistently since he assumed office, adding that continuous media engagement will boost the credibility of the FIRS.
FG to spend N3.53 trillion on infrastructure, human capital development in 2022
Recall that the minister of finance, budget and national planning, Zainab Shamsuna Ahmed, recently revealed that the federal government will spend N3.53 trillion on infrastructure and human capital development in the year 2022.
She stated this during a town hall meeting organised by the ministry of information and culture in Abuja on Tuesday, February 22.
The minister said Nigeria’s huge and growing population offered both an economic challenge and opportunity in the light of constrained revenue proceeds brought on by several multi-dimensional factors, including the global pandemic and its impact on the local economy.
Source: Legit.ng
