• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

      Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

      WTO Lauds Nigeria Customs for Embracing Global Trade Standards

  • National
    • 58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Tinubu conference centre generates N700m in 3 weeks – Wike

      Police Arrest 43 Illegal Immigrants, Human Traffickers, Rescue Victim

      Multichoice logo

      NDPC Fines MultiChoice ₦766m for Data Protection Breach in Nigeria

      Abdullahi Aliyu Maiwada

      Customs Debunks Fake CBT Recruitment Shortlist Circulating Online

    • Government
      • Tinubu conference centre generates N700m in 3 weeks – Wike

        Soldiers

        Soldiers, forest guards to tackle insecurity in Kwara State

        MUSWEN Muslim Ummah of South West

        MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

        Corporate Affairs Commission

        CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

        Employment: ICPC Secures Conviction of FAAN Staff

  • Security
    • Police Officer

      Security Forces Nab 2 Suspected ESN/IPOB Terrorists in Enugu

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Police Officer

      Police rescue 19 Ghanaians from human traffickers in Oyo

      Soldiers

      Soldiers, forest guards to tackle insecurity in Kwara State

      Police Officer

      Anambra Police Arrest Man with Human Breast; Rescue Abducted Driver, Recover…

  • Features
    • From SDP to ADA to ADC: Can the New Opposition Coalition…

      Bashir Adewale Adeniyi MFR

      Adeniyi: Lifting Nigeria to the Pinnacle of Global Customs Authority

      Nigeria’s Growth Numbers Tell Only Half the Story By Umar Farouk…

      NYSC Corps Members in Camp

      The Burden Too Many Nigerian Youths Bear Alone

      Combating Deepfake Videos: A Fight for Nigeria’s Soul By Mukhtar Ya’u…

  • State
    • Police Officer

      Security Forces Nab 2 Suspected ESN/IPOB Terrorists in Enugu

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Police Officer

      Police rescue 19 Ghanaians from human traffickers in Oyo

      Soldiers

      Soldiers, forest guards to tackle insecurity in Kwara State

      NDLEA Logo

      NDLEA Intercepts UK, Saudi-Bond Cocaine Hidden in Lipsticks in Lagos, Arrests…

  • Event
    • 58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Troops of the Nigerian Army giving a salute

      162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

      NELFUND

      NELFUND Warns Students Against Fake Loan Application Portal

    • PR Nigeria Award
  • E-Paper
Home Government FIRS Collects N4.2tr with 77% from Non-Oil Sector in 2021- Chairman Nami
  • Government

FIRS Collects N4.2tr with 77% from Non-Oil Sector in 2021- Chairman Nami

By
Johannes Oluwatobi Wojuola
-
October 8, 2021
Chairman Federal Inland Revenue Service, Muhammed Ami
Chairman Federal Inland Revenue Service, Muhammed Nami

FIRS Collects N4.2tr with 77% from Non-Oil Sector in 2021- Chairman Nami

The Chairman of the Federal Inland Revenue Service, Muhammad Nami, has restated that the diversification of the Nigerian economy, though a work in progress, is on course.

Speaking at the ‘Public Presentation And Breakdown Of The Highlights Of The 2022 Appropriation Bill’, Muhammad Nami stated that 4.2 Trillion Naira had been collected so far in 2021 in revenue, with about 3.3 Trillion Naira, that is over 77% of the total collection from the non-oil sector.

“To address the issue of Nigeria not diversifying its economy, from a tax perspective, you will discover that we are actually diversifying the economy,” Nami stated.

“The total collection we have up to 31 September, which we have not fully reconciled with the CBN and the Nigerian Customs is about 4.2 Trillion Naira, and from this amount, oil related taxes accounted for only 22 per cent which is 950 Billion Naira only, while the non-oil taxes we have generated within that period is 3.3 Trillion Naira.”

It will be recalled that President Buhari had acknowledged during his 2022 Budget presentation speech to the National Assembly that, “On a positive note, we surpassed the non-oil taxes target by eleven (11) percent in aggregate. The sustained improvement in non-oil taxes indicates that some of our revenue reforms are yielding positive results. We expect further improvement in revenue collections later in the year as more corporate entities file their tax returns and we accelerate the implementation of our revenue reforms.”

Muhammad Nami noted that though the potentials of the country’s non-oil revenues were being harnessed, it was however not adequate.

“To discuss about the taxes that are being paid in the country and to say whether they are adequate or not, I want to believe one, they are not adequate,” he noted.

“People are not willing to pay even when they are appointed as agents of collection; whatever they have collected on behalf of the government they find it difficult to remit.

“When you compare Nigeria as an oil producing country to a small country like Saudi Arabia that the Honourable Minister [of Finance] has pointed out, we are still not there.

Read Also:

  • Security Forces Nab 2 Suspected ESN/IPOB Terrorists in Enugu
  • 58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to State Government
  • Tinubu conference centre generates N700m in 3 weeks – Wike

“We assume that we are a rich country, I don’t think that is correct. We only have the potential to be rich, because we have a very huge population of about 200 million.

“Saudi Arabia with a population of about 35 million people has an oil firm, ARAMCO that raked in 49 Billion Dollars in profit in 2020. At our official rate, that is roughly about 20 Trillion Naira in profit: more than the total budget sum for 2022 that was submitted by President Muhammadu Buhari.

“Despite the above statistics, Saudi Arabia still earns revenue from several other sources including religious tourism and Value Added Tax which is as high as 15%, as against Nigeria’s 7.5%.” Nami stated.

The FIRS Executive Chairman emphasized that the best way to fund budgets globally was through payment of taxes by citizens particularly personal income tax which is a direct tax as against indirect taxes; he further noted that personal income taxes in other countries account for over 50% of the funds available to their respective governments for funding expenditure.

“Our total taxpayers today is in the region of about 41 million people and the total personal income tax paid last year was less than N1trn by 40 million people.

“If you also compare that with our own brother South Africa where they have a total population of about 60 million people, with just 4 million taxpayers, the total personal income tax paid in South Africa last year is about N13trn. You can now see that these things are not adding up.

“The number of billionaires in Lagos alone are more than the number of billionaires in the whole of South Africa but yet what Lagos State generated as Personal Income Tax was just less than N400bn in 2020.

“So if we don’t pay these taxes, there is no way the government will be able to provide the social amenities required, the critical infrastructure required for the wellbeing of the country.” Nami stated.

The Honorable Minister of Finance, Zainab Ahmed Shamsuna in replying to a question posed to her by a journalist present at the Public Presentation ceremony of the 2022 budget noted that there was a social contract between taxpayers and authorities, and that government revenue that was generated was being applied to funding its expenditure at all the three tiers of government.

She cautioned citizens to pay their taxes, noting that it is when they pay their taxes that they become stakeholders who can demand accountability from the government.

Johannes Oluwatobi Wojuola
SA Media and Communication to the Executive Chairman, FIRS
October 8, 2021

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • FIRS
  • Muhammad Nami
  • Nigerian economy
Previous articleNDA: VP Osinbajo Emphasises on Military Science
Next articleNigerian Troops Eliminate Unknown Gunmen in South-East
Johannes Oluwatobi Wojuola
Johannes Oluwatobi Wojuola
Xing

RELATED ARTICLESMORE FROM AUTHOR

Tinubu conference centre generates N700m in 3 weeks – Wike

Soldiers

Soldiers, forest guards to tackle insecurity in Kwara State

NIPSS Directing Staff behind the Queries Barrister Nima Salman Mann and Rear Admiral A.A. Mustapha

Cybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials

‎FACT-CHECK: Was a Man Trapped in Ceiling after Trying to Hack FCMB Bank?

FACT-CHECK: Did a Man Catch His Wife and Driver “Knacking” in a Hotel Room?

MUSWEN Muslim Ummah of South West

MUSWEN Renews Call for Shariah Courts to Regulate Affairs of Muslims

Corporate Affairs Commission

CAC Unveils AI-Powered Registration Portal to Revolutionize Business Registration in Nigeria

Employment: ICPC Secures Conviction of FAAN Staff

Staff of PRNigeria with federal lawmakers

Federal Lawmakers Endorse PRNigeria Fellowship, Pledge Support for Youth Empowerment

‎FACT-CHECK: Are Nigerian Soldiers Protecting Cattle Instead of Citizens in Yelewata Benue State as Shown in a Viral Video?

How a Single Electricity Market Will Empower Africa’s People and Economies

World’s Largest Electricity Market Kicks Off as AU Launches Steering Committee to Drive Continental Integration

Recent Posts

  • Security Forces Nab 2 Suspected ESN/IPOB Terrorists in Enugu
  • 58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to State Government
  • Tinubu conference centre generates N700m in 3 weeks – Wike
  • Police rescue 19 Ghanaians from human traffickers in Oyo
  • Soldiers, forest guards to tackle insecurity in Kwara State
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Security Forces Nab 2 Suspected ESN/IPOB Terrorists in Enugu58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to State GovernmentTinubu conference centre generates N700m in 3 weeks – WikePolice rescue 19 Ghanaians from human traffickers in OyoSoldiers, forest guards to tackle insecurity in Kwara StateAnambra Police Arrest Man with Human Breast; Rescue Abducted Driver, Recover Goods Worth N9.5mPolice Arrest 43 Illegal Immigrants, Human Traffickers, Rescue VictimNDPC Fines MultiChoice ₦766m for Data Protection Breach in NigeriaCustoms Debunks Fake CBT Recruitment Shortlist Circulating OnlineNDLEA Intercepts UK, Saudi-Bond Cocaine Hidden in Lipsticks in Lagos, Arrests Other SuspectsFrom SDP to ADA to ADC: Can the New Opposition Coalition Unseat Tinubu in 2027?IGP Egbetokun Mourns Retired AIG Liman ShettimaNAF Hosts Nationwide Parley to Honour Veterans’ Courage, SacrificeCybercrime Allegation: PRNigeria Petitions Police Against NIPSS Officials‎FACT-CHECK: Was a Man Trapped in Ceiling after Trying to Hack FCMB Bank?
X whatsapp