The Federal Inland Revenue Service, FIRS says it generated ₦5 trillion by the second week of December and ₦5.3 trillion by the end of the year 2018. That’s according to the Executive Chairman, Tunde Fowler in a statement on Wednesday.
If the target is met it will be the highest revenue ever generated by FIRS in history.The highest in FIRS history is ₦5.07 trillion generated in 2012.
According to the statement, Fowler’s generation of N5 trillion was significant as it was at a period when oil prices oscillated between $50 and $70 per barrel.
The FIRS boss also stated that as global society continued to transform in structure and process, especially with new technologies and ways of doing things, the role that had been presented before tax administrators in an emerging economy such as Nigeria were quite enormous.