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How Nigerian Govt will achieve N19.4trn revenue target in 2024 – FIRS

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The Nigerian federal government has announced that it will ramp up revenue generation and achieve its 19.4 trillion collection target in 2024.

The government said it will rely on voluntary tax compliance and a new organisational structure to achieve its revenue collection target in 2024.

Zacch Adedeji, Federal Inland Revenue Service executive chairman, disclosed this during the agency’s recent 2024 strategic management retreat in Abuja.

According to him, the new organisational structure, set to kick off in February 2024, is a critical milestone in revolutionising tax administration in the country in a modernised and digitised manner.

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“We want to use the new structure to drive voluntary compliance because the focus cannot be on litigation and investigation; that one will be for, say, 10 per cent of all our strategies.

“The real strategy is to drive voluntary compliance, and there will always be consequences for non-compliance, and that is where this structure is going.

“By tailoring our services to specific taxpayer segments, we aim to simplify the taxpayer experience. There are no more complexities or overlaps — just a seamless and user-friendly interaction for every taxpayer,” he said.

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The service noted that it generated N12.37 trillion as taxes in 2023, surpassing the 2022 record by N2 trillion.

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