‘Taxes generated 60% of government’s revenue in three months’
Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, has disclosed that taxes contributed 60 per cent of revenues distributed at the Federation Accounts Allocation Committee (FAAC) in the last three months.
Fowler gave the hint when Chairman of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Chief Elias Mbam, visited the Revenue House in Abuja yesterday.
The RMFAC is responsible for harnessing and mobilising the Federation’s revenues, as well as creating a workable sharing formula among the Federal, states and local government areas in the country.
Briefing Mbam further, Fowler pledged that FIRS would continue do its best to generate revenues to fund the three tiers of government, saying: “We have always told ourselves that our job is done for love of the country. We will continue to deliver quality services in Nigeria’s tax administration.”
He pointed out that FIRS was deploying technologies to make it easy for taxpayers to pay their taxes conveniently, even from the comfort of their homes or offices, download tax receipts and do other transaction without visiting the tax office.
Responding, Mbam commended FIRS efforts and confirmed Fowler’s claim that it generated much for the country.
“In the last three months, the service has been the major contributor to the federation’s account. The average contribution from FIRS in the last three months is about 59.7 per cent.
“In other words, more than half of the revenue shared among the three tiers of government came from FIRS. So, I thank you for the effort,” he said.
Mbam, who led a team of RMAFC commissioners and other management staff to the service, also noted that the Commission and FIRS would continue to collaborate for the greater benefit of Nigeria.
“Sometime in June, members of the RMAFC were sworn-in and they have all assumed duty. To understand the terrain, there is the need to familiarise themselves with major stakeholders of the Commission and their activities to aid them in their work.
“We are here to familiarise ourselves with your activities, to know areas of collaboration, your challenges, which we will also help to pass to the Federal Government,” he stated.
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