The Federal Inland Revenue Service, FIRS, on Thursday stated that the service anticipates revenue collection of N5.9 trillion in 2021.
Chairman of the FIRS, Muhammad Nami, announced the anticipation in Abuja while defending the Service’s 2021 budget before the House of Representatives Committee on Finance.
He said the 2021 budget was tailored to reposition the Service for a more effective tax collection for all tiers of government, as strategies had been put in place to enable electric tax collection to enhance compliance with COVID-19 safety protocol of social distancing.
Nami said the FIRS would also deepen synergy with its state counterparts to generate more revenue for the country.
While noting that N289 billion was earmarked for the operations of the Service in 2021, he explained that revenue collection anticipation was N8.5 trillion, but was reviewed to N5.3 trillion as COVID-19 reared its head.
Nami said notwithstanding the nationwide lockdown of 2020 and the adverse effects of the pandemic, the Service was able to collect N4.9 trillion in revenues.
He said out of the projected N180 million non-oil revenue, the Service was able to collect N130 million.
Nami also announced that the Service would not be recruiting new employees in 2021, saying that 60 percent of its workforce had been staying at home since the advent of COVID-19.
