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The Nigerian federal government says it plans to achieve a 57 per cent revenue collection boost in 2024.<\/p>\n

The development comes as the country\u2019s apex tax collection agency, the Federal Inland Revenue Service, forecasts revenue to increase 57 per cent in 2024 to 19.4 trillion nairas ($20.3 billion), compared with last year, according to Bloomberg.<\/p>\n

Accordingly, the report indicated that the government expects N9.96 trillion in tax revenue from oil and N9.45 trillion in non-oil revenue.<\/p>\n

The agency plans to \u201ccarry out internal reallocation from oil to non-oil, given that the budget oil revenue 2024 was increased by 214 per cent compared to 2023 actual, while non-oil was increased by only 3 per cent\u201d.<\/p>\n

DAILY POST recalls that in July last year, President Bola Ahmed Tinubu appointed a Presidential Committee on Fiscal Policy and Tax Reforms headed by Taiwo Oyedele to boost revenue collection.<\/p>\n

This comes as, in the first six months of 2023, the FIRS collected tax revenue of N5.5 trillion, which was a record for a half year and put the agency in a position to surpass its N10.1 trillion collection for 2022.<\/p>\n

Nigeria eyes 57 per cent revenue collection boost in 2024<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Nigerian federal government says it plans to achieve a 57 per cent revenue collection boost in 2024. The development…<\/p>\n","protected":false},"author":1,"featured_media":12224,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,1125,15],"tags":[519,180],"class_list":["post-12223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-fg","category-news","tag-business","tag-news"],"yoast_head":"\n