FIRS generated N4trn in 2017, says Fowler

Babatunde Fowler, chairman of the Federal Inland Revenue Service (FIRS), says the agency generated N4 trillion in 2017.

Fowler said this on Monday when he visited Rilwan Akiolu, oba of Lagos.

The FIRS chairman said the aforementioned sum generated by the service is an indication that Nigeria can depend less on oil revenue, which has dipped since 2014.

He said the figure is a 20 percent improvement on the N3.3 trillion collected in 2016.

According to him, taxation remains the most sustainable source of government revenue.

“There cannot be any serious discussion on diversification of the economy without reviewing the tax regime,” Fowler said.

On his part, Akiolu said he has paid N350,000 in taxes over seven years.

The monarch called on Nigerians to pay their taxes when due, so the government could provide infrastructure.

“Our taxes are what the government needs to build schools, provide healthcare, build roads and provide other amenities for our people,” he said.

“I call on you senators and members of the house of representatives to pay your taxes. Some of you have farms. You must pay taxes on income from your farms.”