Nation
FIRS Rakes In N4.9trn In 2020
The Federal Inland Revenue Service (FIRS) says it collected N4,952,243,711,728.37 as tax revenue in the 2020 fiscal year.
Director of Communications and Liaison of the service, Mr Abdullahi Ahmad, disclosed this in a statement in Abuja, yesterday.
Ahmad explained that this achievement represented about 98 per cent of the national tax target of N5.076 trillion set for the FIRS by the Federal Government.
The director quoted the Executive Chairman of the Service, Mr Muhammad Nami, as saying that this performance was remarkable, considering the debilitating effects of COVID-19 on the Nigerian economy.
He identified the all-time low price of crude oil in the international market, business disruptions and lootings during the #EndSars protests and generous tax waivers granted to ease the impact of the COVID-19 lockdown as some factors that hindered the FIRS operations last year.
He added additional tax exemptions granted to small companies in the 2019 Finance Act and insecurity in some parts of the country was another factor for what the service generated.
While analysing the significance of the 2020 performance, Nami said that the FIRS recorded this feat at a time when the price of oil hit an all-time low.
According to him, the oil which used to contribute more than 50 per cent in tax returns through the Petroleum Profits Tax in previous years, accounted for only 30.6 per cent of the tax revenue generated in 2020.
He also said that the non-oil tax collection was 109 per cent in 2020, which was nine per cent higher than the previous year.
The chairman attributed the success recorded in 2020 to many reforms initiated by the board and management of FIRS under his leadership.
He said the reforms included capacity building for staff, improved welfare package, promotion and proper placement of staff and deployment of appropriate technology for tax operations.
Others were segmentation of taxpayers to ease tax compliance and continuous collaboration with relevant stakeholders among others.
“The conscientious taxpayers in the country and dedicated members of staff of the FIRS nationwide for their support and devotion to work made this performance possible despite the numerous obstacles encountered in 2020.
“The FIRS is optimistic that this current fiscal year will be better than in 2020.
“We shall perform well, given that our service reforms are expected to yield greater dividends, especially as different parts of tax administration are being automated,” he said.
“We are also optimistic that exploration activities will improve in the oil sector and increase the prospect of higher tax revenue from the sector.
“Similarly, the ongoing reforms together with increased stakeholder collaborations will brighten the prospect of improved voluntary compliance and consequently higher tax revenue generation for the country this year and beyond,’’ he stated.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
Tonye Orabere
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