The Federal Capital Territory Internal Revenue Service (FCT-IRS) has exceeded its 2024 revenue target, generating N262 billion in Internally Generated Revenue (IGR), surpassing its N250 billion goal by N12 billion.
Speaking at the agency’s annual sensitisation campaign on Thursday, Acting Executive Chairman Ango Abdullahi revealed that FCT-IRS had already collected N43.8 billion in January 2025 and remains on track for February.
“These funds come from taxpayers and residents of the FCT, and we are committed to sustaining and improving our collection efforts,” Abdullahi stated.
FCT-IRS collects various taxes, including personal income tax, capital gains tax, stamp duties, property taxes, and entertainment levies. The agency collaborates with federal and FCT-level institutions to enhance revenue generation for area councils, secretariats, departments, and agencies.
Abdullahi expressed confidence in achieving even higher revenue figures in 2025, stressing efforts to build a tax compliance culture and strengthen partnerships across government agencies.
Credit: NAN (Text Excluding Headline)
