FCTA targets N250bn monthly revenue, says taxes will ‘have human face’

The Federal Capital Territory Administration (FCTA) says it is looking to generate N250 billion in revenue monthly.

Speaking with reporters on Friday, Chinedum Elechi, FCTA’s mandate secretary for economic planning, revenue generation and public private partnership (EPRGPP), said it is even possible for the administration to generate N300 billion monthly.

Elechi said the taxation in the nation’s capital would have a “human face”.

“We think that FCTA has the capacity to do N250 billion a month, on a good day and that is the sort of target we are looking at,” NAN quoted the secretary as saying.

“We can even do N300 billion a month in some good periods. So that is what we want to work out.

“However, in trying to grow revenue, it will also have a human face, because we are going to be dealing with issues of multiple taxation, so things are going to be streamlined.”

The mandate secretary said there is a need to enhance the generation of revenue because oil is no longer sustainable.

“For us in the FCT, the fall back is the IGR, and we have to work together to make a difference,” he said.

“The goal is not just to harness what we have but also to improve on it. This means that the more we grow our revenue, the better it will be for all of us.

“The message is that every person in this room has a responsibility to generate more revenues for the FCTA.”

Elechi added that all the secretariats would work together to ensure that the target is achieved.