The Federal Capital Territory Internal Revenue Service (FCT-IRS) announced it has collected N252.83 billion in Internally Generated Revenue (IGR) for 2024, exceeding its target by 101%.
The acting Executive Chairman of FCT-IRS, Mr. Michael Ango, disclosed this at the service’s end-of-year media parley in Abuja on Thursday. Ango noted that the revenue, collected between January and December 18, surpassed the N250.2 billion target and marked a 19.8% increase from the N211.1 billion generated in 2023.
Ango attributed the achievement to the dedication of staff and collaboration with FCT Secretariat, area councils, government agencies, and support from the Senate and House Committees on FCT.
Since his appointment in August 2023, Ango said the service has implemented reforms to enhance its operational efficiency. These include a restructuring that created new departments such as Audit, Debt Management and Enforcement, and an expanded Tax Operations Department.
Two new directorates now focus on distinct taxpayer categories: one handles Ministries, Departments, and Agencies (MDAs), corporate entities, and international organizations, while the other targets individuals, enterprises, and partnerships.
“We also established a High Net-Worth Individuals (HNIs) Unit and strengthened collaboration with the Nigerian Financial Intelligence Unit to improve tax compliance and collections,” Ango said.
Additionally, the service created a Learning and Development Department for capacity building and has reinforced partnerships with the Federal Inland Revenue Service, Joint Tax Board, and FCT Judiciary to optimize revenue collection efforts.
Ango reaffirmed FCT-IRS’s commitment to driving revenue growth, ensuring accountability, and supporting the development of the Federal Capital Territory.
