{"id":77587,"date":"2025-10-27T11:46:09","date_gmt":"2025-10-27T11:46:09","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=77587"},"modified":"2025-10-27T11:46:09","modified_gmt":"2025-10-27T11:46:09","slug":"firs-records-%e2%82%a647-39tn-tax-collection-surpasses-target-by-15","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/10\/27\/firs-records-%e2%82%a647-39tn-tax-collection-surpasses-target-by-15\/","title":{"rendered":"FIRS Records \u20a647.39tn Tax Collection, Surpasses Target by 15%"},"content":{"rendered":"<p data-start=\"135\" data-end=\"200\"><strong>By Onyeanya Ebere Immaculata<\/strong><\/p>\n<p data-start=\"202\" data-end=\"236\">\n<p data-start=\"238\" data-end=\"416\">The Federal Inland Revenue Service (FIRS) has collected a record \u20a647.39 trillion in taxes between October 2023 and September 2025 \u2014 exceeding its revenue target by 15 per cent.<\/p>\n<p data-start=\"418\" data-end=\"748\">According to new data released on Sunday, the figure represents a 115 per cent rise from the \u20a621.97 trillion collected in the previous two-year period. The agency attributed the increase to reforms, digitalisation, and stricter enforcement under its Chairman, Zacch Adedeji, appointed by President Bola Tinubu in September 2023.<\/p>\n<p data-start=\"750\" data-end=\"1006\">Between January and September 2025 alone, FIRS generated \u20a622.59 trillion \u2014 about 90 per cent of its \u20a625.2 trillion annual goal. Non-oil taxes accounted for \u20a617.3 trillion, or 76 per cent of total collections, while oil revenue contributed \u20a65.29 trillion.<\/p>\n<p data-start=\"1008\" data-end=\"1155\">Company Income Tax led with 32.6 per cent of total receipts, followed by non-import VAT (23.2 per cent) and Petroleum Profit Tax (17.4 per cent).<\/p>\n<p data-start=\"1157\" data-end=\"1341\">The service credited the surge to tools such as the National Single Window and E-Invoicing System, as well as new tax laws enacted in 2025 to simplify compliance and close loopholes.<\/p>\n<p data-start=\"1343\" data-end=\"1616\">Chairman Adedeji, while confirming the figures, said Nigeria\u2019s borrowing strategy remained intentional.<br data-start=\"1446\" data-end=\"1449\" \/>\u201cBorrowing is not a problem,\u201d he said. \u201cIf expenditure is \u20a6100,000 and we plan to raise \u20a680,000 in revenue and borrow \u20a620,000, that\u2019s still within budgetary limits.\u201d<\/p>\n<p data-start=\"1618\" data-end=\"1771\">FIRS projects that total collections could exceed \u20a625.2 trillion by December 2025, supporting government spending and reducing reliance on oil revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Onyeanya Ebere Immaculata The Federal Inland Revenue Service (FIRS) has collected a record \u20a647.39 trillion in taxes between October 2023 and September 2025 \u2014 exceeding its revenue target by 15 per cent. According to new data released on Sunday, the figure represents a 115 per cent rise from the \u20a621.97 trillion collected in the [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":77588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1756,172,1719],"tags":[],"class_list":["post-77587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news","category-tax"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/77587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=77587"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/77587\/revisions"}],"predecessor-version":[{"id":77589,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/77587\/revisions\/77589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/77588"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=77587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=77587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=77587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}