FG earned N1.5tn from taxes in three months

The Federal Government on Monday said it realised the sum of N1.5tn as tax revenue in the first three months of this year.

This was disclosed in a statement issued by the Federal Inland Revenue Services and signed by the Director, Communications and Liaison Department, Mr. Emmanuel Obeta.

It gave an assurance that going by the current revenue collection pattern; it would, by September this year, meet up with the government's revenue target of N5.72tn.

In view of this, the statement said FIRS had raised its revenue collection target from N5.72tn to N6tn.

It said, 'From its first quarter 2013 revenue collection streaks, the FIRS has assured that it will meet the government revenue target of N5.72tn by September 2013.

'Also, drawing confidence from the result of its modernisation and automation projects, particularly, the Integrated Tax Administration System, FIRS has raised its internal revenue target of 2013 to N6tn.'

The statement also said the management team has strategised on how to achieve the targets.

It quoted the Acting Executive Chairman, Alhaji Kabir Mashi, to have said, 'We must be focused and not to be distracted. I like to assure you that we will remain resolute and committed on our mandate.

'I like to remind you that we pledged to the Minister (of Finance) that we will collect this year more than what we collected last year, and believe me, it can be done.

'We have the capacity, we have the potential. We are not doing badly but we must re-commit ourselves. In the first four months of 2013, we have collected more than what we collected same period last year.'