Historic Tax Collection: FCT-IRS Delivers ₦252bn Revenue, Exceeds 2024 Target

Historic Tax Collection: FCT-IRS Delivers ₦252bn Revenue, Exceeds 2024 Target

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has achieved a remarkable ₦252 billion in tax revenue for 2024, surpassing its target of ₦250 billion. The acting Executive Chairman, Michael Ango, revealed this achievement in an end-of-year briefing…Historic Tax Collection: FCT-IRS Delivers ₦252bn Revenue, Exceeds 2024 Target

on Thursday, December 19.

This impressive figure represents a 19% increase compared to last year’s revenue of ₦211 billion, highlighting the effective efforts of the IRS team and support from local government officials and legislators.

Ango credited the achievement to FCT-IRS staff, the Area Council Chairmen, the Senate, and the House of Representatives for their unwavering support in meeting the revenue target. He also shared that the revenue collection was driven by key initiatives introduced in 2024, including new departments and stronger collaboration with government agencies.

Looking ahead, the FCT-IRS plans to focus on untapped revenue sources such as Stamp Duties, Capital Gains Tax, and taxes related to betting and gaming. These efforts are expected to support ongoing infrastructure projects in the FCT, including road and healthcare improvements spearheaded by the FCT Minister.

Ango also expressed gratitude to the public for increasing awareness about tax obligations, promising further tax education and tighter enforcement in the coming year.

Stay tuned for more updates on this breakthrough performance as the FCT-IRS continues to strengthen the capital’s financial landscape.

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