Nigeria Collected $3Billion of Tax Revenues in Q1, 2018

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Nigeria’s government mobilized about N171 billion (around $3.2 billion) as tax revenues during the first three months of 2018. This was revealed by Babatunde Fowler (photo), chairman of the Federal Inland Revenue Service (FIRS).

This amount is up by N393 billion (about $1 billion or 51%) from the N778.1 billion ($2.16 billion) collected within the same period in 2017.

This strong performance was made possible thanks to efforts to modernize Nigeria’s tax administration through the process of digitalization. This resulted in a number of initiatives including tax returns and online tax payments.

Babatunde Fowler also lauded companies which made efforts in this vein such as Dangote Group, adding that this will support the country’s economy and allow the construction of hospitals and other infrastructures.

“Let’s continue to pay our taxes. If we do, we will make Nigeria great again,” he said, stressing that good taxpayers who conscientiously perform their civic duty by paying taxes within due date will make Nigeria even more prosperous.

 

Ecofin Agency

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