In 2024, the Federal Capital Territory Internal Revenue Service (FCT-IRS) reported a remarkable collection of N252.83 billion in Internally Generated Revenue (IGR).
During a year-end media briefing held in Abuja on Thursday, Acting Executive Chairman Mr. Michael Ango, consequently, revealed this impressive figure.
The revenue collected from January to December 18 surpassed the N250.2 billion target, achieving an impressive 101% of the goal.
This achievement reflects a significant growth of 19.8% compared to the N211.1 billion gathered in 2023, showcasing agency progress.
Ango attributes this success to the commitment of the agency’s staff, management, and government bodies like the FCT Secretariat.
He also appreciates the Senate and House Committees on the FCT for their vital support in achieving this milestone.
Additionally, since his appointment in August 2023, Ango has initiated several reforms to bolster the service’s capacity to fulfill its mandate.
A key change includes a thorough review and expansion of the organizational structure to increase operational efficiency.
This expansion established new departments like Audit, Debt Management, and Enforcement, enhancing the Tax Operations Department for various taxpayers.
Consequently, these initiatives led to the formation of two new directorates, focusing on government entities and international organizations.
The other directorate targets individuals, enterprises, and partnerships, ensuring that all taxpayer types receive comprehensive attention.
The organization introduced the Learning and Development Department to enhance capacity building and training for employees and stakeholders.
To enhance tax compliance, the FCT-IRS established a High Net-worth Individuals (HNIs) Unit, targeting affluent individuals in Abuja.
In conjunction with this initiative, the FCT-IRS reinforced collaboration with the Nigerian Financial Intelligence Unit for real-time HNI tax intelligence.
On the external front, the agency strengthened partnerships with the Federal Inland Revenue Service, Joint Tax Board, and FCT Judiciary.
These collaborations are designed to enhance the agency’s efficiency in collecting revenue on behalf of the Federal Capital Territory.
Ultimately, Ango underscored that these strategic efforts are essential for ensuring the long-term prosperity and stability of the region, setting a positive trajectory for future developments.
