The Federal Inland Revenue Service, FIRS, on Monday said it collected over N10 trillion in tax revenue in 2022, which is the highest tax collection in its
In 2021, FIRS achieved a record tax collection of N6.405 trillion. The Service built on the success of the preceding year in 2022 with a record collection of N10.1 trillion, over 96% of its collection target for the year, making it the first time it crossed the 10 trillion naira milestone.
According to the report, the 2022 collection, which amounted to N10.1 trillion in both oil and non-oil revenues, was slightly below the target of N10.44 trillion. Overall, non-oil taxes made up 59% of the total collection while the remaining 41% was oil tax collection. The report also stated that the N10.1 trillion is exclusive of tax waived on account of various tax incentives granted under the respective laws, which amounted to N1,805,040,163,008.
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