News
FIRS generates N14.27trn revenue in first half of 2025
Federal Inland Revenue Service (FIRS) realised N14.27 trillion revenue in the first half of 2025, a presidential performance evaluation report has indicated. The revenue represents a 43 per cent increase over the N9.98 trillion realised in the same period in 2024. The report said N10.64 trillion was realised from non-oil tax receipts in the first half of 2025 against N7.37 trillion realized in the same period last year. It also said N3.63 trillon was realized from oil tax in the first half of the year, against the N2.60 trillion in the same period last year.
The report attributed the performance to improved tax compliance by oil companies and intensified efforts by the Federal Inland Revenue Service to track and tax extractive industry earnings. “The favourable increase highlights the accelerated pace of revenue collection against 2024 and underscores continued momentum toward achieving the 2025 revenue target,” the report said.
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