Nigerian FCT-IRS internally generated N252.83bn revenue in 2024

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The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced a record collection of N252.83 billion in Internally Generated Revenue (IGR) for 2024, surpassing its annual target by 101 percent.

The acting Executive Chairman of FCT-IRS, Mr. Michael Ango, disclosed this during the service’s end-of-year media parley held in Abuja on Thursday.

Ango explained that the revenue collected between January and December 18 exceeded the N250.2 billion target by 101 percent, representing a significant 19.8 percent increase from the N211.1 billion generated in 2023.


“This milestone is a testament to the dedication of our staff, management, and the collaborative efforts of the FCT Secretariat, Departments, and Agencies, as well as other government entities,” Ango said. He also acknowledged the legislative support provided by the Senate and House Committees on the FCT.

Since assuming office in August 2023, Ango has spearheaded structural reforms aimed at strengthening the agency’s capacity to meet its revenue mandates.

Key among these changes was the establishment of new departments, including Audit, Debt Management and Enforcement, and a restructured Tax Operations Department organized by taxpayer categories.

The expanded Tax Operations Department now features two new directorates. One focuses on Ministries, Departments, and Agencies (MDAs), corporate organizations, and international entities, while the other is dedicated to individuals, enterprises, and partnerships.