Fowler: FIRS Raked in N4tn in 2017
Nume Ekeghe
The Federal Inland Revenue Service (FIRS) collected a record N4 trillion in taxes last year.
This was disclosed yesterday by the FIRS Chairman, Mr. Babatunde Fowler, during a visit of the members of the Senate and House of Representatives Finance Committees who are holding a retreat in Lagos to the palace of the Oba of Lagos, Oba Rilwan Babatunde Akiolu.
Last year revenue generation figure, according to Fowler, marked a 20 per cent rise over the N3.3 trillion collected in 2016.
Addressing the gathering, which also comprised FIRS and Joint Tax Board (JTB) members, Fowler said the appreciable jump in taxes collected in 2017 was an indication that Nigeria can depend less on oil revenue, which has dipped since 2014, following a slump in oil prices on the international market.
While responding to the disclosure by Fowler, Oba Akiolu said he was not surprised at the jump in taxes collected, saying he had expected an impressive performance from the agency following the appointment of Fowler in August 2015.
The traditional ruler said his expectation was based on the sterling performance of Fowler in his days as Chairman, Lagos Inland Revenue Service (LIRS), during which tax collection jumped from an average of N600million monthly to over N20billion.
He added: “Honestly, out of that N4 trillion, I am sure 60- 70 per cent of it is gotten from Lagos State. Around 1851, a copy of that document I’m handing over to the FIRS chairman, the colonial government in charge at that time made a decree that three percent of income tax should be paid to the Oba and two per cent of any export likewise should be paid to me. Honestly, I am asking for that money, but I am asking for it for the government of Lagos State.”
Akiolu called on all eligible taxpayers to pay their taxes when due so as to help the government provide infrastructure. He also called on members of the Finance Committee to do the same.
“Our taxes are what the government needs to build schools, provide healthcare, build roads and provide other amenities for our people. I call on you senators and members of the House of Representatives to pay your taxes. Some of you have farms. You must pay taxes on income from your farms,” Oba Akiolu said.
Recalling his time as Chairman LIRS, Fowler said Oba Akiolu was a pillar of support for the Lagos State Government’s efforts to generate taxes.
“Oba Akiolu was very supportive of our efforts to use taxes to bring development to the people. I think Lagos State has demonstrated that payment of taxes is crucial to development. The development we see in the state is evidence of sacrifices made by Lagosians in form of taxes. Nigeria will develop more with taxes, as they represent a more reliable and sustainable source of revenue,” Fowler said.
The South-east chapter of the All Progressives Congress (APC) yesterday in Abuja announced the unanimous endorsement of President Muhammadu Buhari for a second term in office.
Leading a delegation of South-east leaders to the State House, Hon. Emma Eneukwu, National Vice Chairman of APC in the zone, told the president that the party leaders in the region endorsed the president for a re-election on December 31, 2017, on the basis of their conviction that he needs another term for more service to the country.