COVER
FCT Generates N203.1bn IGR in 2023, to Double Figure in 2024
By Laide Akinboade, Abuja
Federal Capital Territory Internal Revenue Service (FCT-IRS) said it generated over N203.1 billion in 2023, an increase over the N124 billion it realized in 2022.
Acting Executive Chairman of the Service, Mr Haruna Abdullahi who disclosed this at a news conference on Wednesday in Abuja said the service projects to generate N250 billion in 2024.
He said, “the Tax Revenue Collection of the FCT-IRS grew from barely N46 billion in 2017 to over N124 billion in 2022 indicating over 270% growth.
“At this point, I would like to inform the general public that as at 19th December 2023, the FCT-IRS for the first time since its inception in 2015 has exceeded the N200 billion mark by generating the sum of N203,147,090,410.
5 as annual revenue for the year 2023.“This is a huge milestone for the Service and it represents about 63.34% increase in collection from the preceding year.
“For the year 2024, FCT-IRS has a target of N250 billion (Two-hundred and Fifty Billion Naira), we are determined and optimistic that we will realize and surpass that, with the committed and dedicated staff of the Service, support from the FCT Administration, the National Assembly and other key stakeholders especially our esteemed taxpayers, it is achievable and the task ahead is surmountable.”
He said the taxpayer base of the FCT has grown from about 543,969 for individuals and 284,746 for non-individuals in 2015 to 1,108,162 for individuals and 389,981 for non-individuals in 2023.
“In collaboration with other sister agencies in the FCT, the FCT-IRS has commenced enforcement of Section 85 of the Personal Income Tax Act, 2011 (as amended) and Section 31 of the FCT IRS Act, 2015 for MDAs, FCT SDAs, Commercial Banks, and other Corporate bodies to demand and verify TCC as precondition for rendering services in FCT,” he stated.
According to him, the service has invested in modern working tools such as hardware and software, adding that the processes of registration, payment, receipting, assessment, Tax Clearance Certificate (TCC) issuance, filing of returns, TCC verification, and generation of withholding tax credit note have all been automated.
“In order to encourage voluntary compliance and to allow taxpayers perform their tax obligations at the comfort of their homes or offices, the FCT-IRS Self Service portal (www.fctirs.gov.ng) enables Taxpayers to perform functions such as; request for Taxpayer Identification Number (TIN), file annual returns, make payment and request for TCC.
“As part of our efforts to ensure compliance with filing of returns, the Service will in accordance with the tax laws apply a penalty for non-filing of annual returns by 31st January of every year for employers and 31st March of every year for individuals. A comprehensive reassessment of returns will be intensified, which will be followed by constant monitoring and compliance exercises.
“The Service will further employ the use of technology to enhance its operations mainly in the area of compliance, enforcement and also seek to consolidate the culture of transparency and accountability in order to build trust and cooperation between the service and the taxpayers.
“The focus will be in the deployment of artificial intelligence, cloud computing, collaboration tools, business process automation and data analytical tools to facilitate compliance and performance of routine tasks aimed at encouraging voluntary compliance and ease of doing business.
“As from January 2024, the Service shall embark on intensive enforcement exercise by ensuring that all relevant provisions of the tax laws are strictly complied with accordingly.
“For avoidance of doubt, section 32 of FCT-IRS Act, 2015 empowers the Chairman of the Service to authorize any Officer of the Service to have free access to properties and records of taxpayers for the purpose of compliance with the tax laws.
“The Service will not only hesitate to prosecute tax offenders through the instrumentality of the law but will ensure that all tax due to FCT are recovered.
“To comply with the ease of doing business initiative, the Service will open more tax offices across the six Area Councils in FCT and at strategic locations or centers within the metropolis for convenience of the taxpayers and further streamline services, making the tax offices accessible to a broader population and contributing to overall organizational growth.
“Additionally, a state of the art headquarters will be constructed, not only to provide for coordination of operations but also reflect our commitment to excellence.
“To attract and retain young talents, the Service will embark on providing targeted training programmes towards ensuring employees stay updated with industry trends and by also providing staff with modern working tools to foster efficiency and innovation”, he added.
By David Torough, Abuja
Business tycoon Aminu Alhassan Dantata yesterday donated N1.5 billion to those affected flood in Maiduguri, Borno State.Dantata who was accompanied friends and associates in Kano was received in Maiduguri by the Borno State Governor, Babagana Zulum.The businessman extended his heartfelt condolences to the government and the people of the state especially those who lost their beloved ones to the flood.
Dantata, 96 lamented the bad economy and prayed for the peace and harmony of Borno State and Nigeria. The Borno State governor expressed heartfelt gratitude for the visit.He acknowledged that its serves as a powerful beacon of hope and solidarity during the trying times.Zulum said, “The people of Borno deeply appreciate this show of humanity by a 96-year-old to visit us.“Let me say it, Our Baba has donated the sum of N1.5 billion to support the flood victims. May Allah bless and reward you with Aljannah.”This donation comes after Dantata’s nephew, Aliko Dangote also donated N1 billion to the flood victims.Meanwhile, Borno State government has raised the alarm, saying the people are at the risk of health crisis.Government has warned residents against eating vegetables from flooded areas because they are contaminated.A statement posted by the Ministry of Information and Internal Security on Facebook yesterday advised the public to abide by the warning for their wellbeing.The statement read, “Due to the recent flood disaster, vegetables from flooded areas are seriously contaminated with harmful substances, including sewage, dead bodies, chemicals and bacteria.“Consuming these contaminated vegetables can lead to serious health risks, including waterborne diseases, food poisoning, and other health complications. “To protect your health and safety, we urge you to avoid buying vegetables from flooded areas; only purchase vegetables from trusted sources and reputable markets; ensure that all vegetables are properly washed and cleaned before consumption.”Nearly 500,000 people have been displaced and more than 1 million affected by flood that recently submerged several parts of Maiduguri, the Borno State capital.The flood, described as the worst in the state in 30 years, resulted from the collapse of Alau Dam due to high rainfalls. The disaster also killed about 80 percent of animals in a zoo in the city as some ran away.
From Dan Amasingha, Minna
Niger State Government has signed a $2billion Memorandum of Understanding (MoU) with a Turkish company, Direkci Group for the off-taking of Soya Beans in the State.The agreement signed at the Niger State Government House, Minna was witnessed by Governor Mohammed Umaru Bago, officials of Direkci Group led by their MD/CEO Mr Nurullah Mahmet and other top government functionaries.
The 10-year partnership, which will cost $200 million per year and $2 billion for the 10 years period, is under the Niger Foods, and is expected to boost agriculture in the State, create job opportunities and improve the economic status of local farmers. Bago appreciated the Turkish Government for the willingness to invest in Niger State.According to him, “This collaboration is a game-changer for Niger State and we are confident it will significantly reduce unemployment and boost food security.”He said going forward, the state government was equally willing to partner with Turkey in other areas beyond agriculture.The Managing Director and Chief Executive Officer of the Turkish company, Mr Nurullah Mahmet said they have been in agric business for decades and have established their presence in Nigeria for 17 years.He said they were attracted by the agricultural programmes of the state and partnering with the state would be mutually beneficial for both parties.He commended Bago for providing the needed impetus for agric investment in the state.The MD said they were willing to put in $10 billion in agriculture investment for the next 10 years and would work with the government of their country to provide security for their investment in the state.The Chairman, Niger Foods, Sammy Adigun disclosed that the Turkish firm will buy 500,000 tonnes of soya beans each year for 10 years.He said the agreement would empower local farmers by providing them with seeds and fertilizers, ensuring a guaranteed market for their produce.Adigun revealed that the Turkish firm was also investing in a 100,000 hectare Green House project with cold chain facility at the agro processing zone with an annual output of about 160,000 tonnes of fruits and vegetables such as tomato and pepper among others.He added that the group will also establish a total of 2.5 million chicken production facility including eggs and feed mills production in two phases.Adigun said the partnership would establish 30,000 hectares of soya beans farms with irrigation systems in Adunu, Paikoro Local Government Area of the state.He announced that already, the group had ordered the first chicken house for 500,000 chickens and would be functional in six months time, while 2000 green houses were already being shipped as the group was also to provide $50 million as direct support to farmers.The agreement, according to Adigun will include the company providing security for their investment in areas prone to insecurity in the state.
From Sylvia Udegbunam EnuguEnugu State Government and Jelfah Nigeria Ltd yesterday signed N40 billion deal for the revitalisation of the long-moribund state-owned Sunrise Flour Mills, Enugu.The deal signed at the Government House, Enugu saw Jelfah acquire 60 percent equity stake in Sunrise Flour Mills and is expected to invest N24 billion in the iconic mills, which went moribund since 1985 just two years after it was commissioned in 1983.
The state government keeps 40 percent based on the existing assets of the company. Speaking at the brief signing ceremony and public announcement of the transaction, the Enugu State governor, Peter Mbah said this milestone, coming on the heels of the N100 billion deal to resuscitate the hitherto dying Enugu United Palm Products Limited (UPPL) is clear demonstration of his administration’s determination to grow the state’s economy from $4.4 billion to $30 billion through private sector investment.“Just a few months ago, we secured an investment size of N100 billion with a company known as Pragmatic Palms Limited, and today we have just witnessed Enugu State, again securing another investment size of N40 billion.“This investment will see Jelfah Group investing N24 billion into the existing Enugu Sunrise Flour Mills. N22bn will be directed into revamping and resuscitation of the Sunrise Flower Mill, and N2 billion is going to come to the State by way of cash.“The Special Purpose Vehicle (SPV) is also going to own 10,000 hectares of farmland, where we are going to cultivate the inputs for the flour mills such as cassava and grain.“This is a testament that when we say Enugu State is open for business, we are truly committed to it. We understand how to make a win-win deal, both for the investors and for the people of Enugu State,” Mbah stated.He assured Jelfah group of continued support, enjoining other prospective investors to come over to invest in the state.“We hope that this signals to other investors, who may still be on the fence that Enugu is actually ready for business. We are committed to not just creating the enabling environment, but also working with investors to help them derisk investments and grow their businesses,” the governor concluded.Speaking, the Chairman of Jelfah Group, Moses Saromi, said they were attracted by Governor Mbah’s vision, dynamic leadership, and speedily increasing ease of doing business in Enugu State under his leadership, saying that Jelfah was in a hurry to transform Sunrise Mills to a centre of excellence.“Your policies have unlocked new opportunities for private sector participation, and Jelfah is proud to be part of this progressive movement.“This acquisition of 60 percent equity not only aligns with Jelfah’s long-term vision, but also furthers the governor’s ambition of empowering the people, revitalising moribund assets, and ensuring sustainable development. And together with our consortium partners, our goal is to transform Sunrise Flour Mills into a centre of excellence, harnessing our collective expertise to drive growth and value creation.“So, we firmly believe that this partnership will catalyse positive change, spark job creation, elevate local production capacities, and contribute significantly to the socio-economic advancement of Enugu State,” he said.“We have worked hard in the last months to get to this point. We have a short term, medium term, and a long term plan for the flour mills. Activities will start in earnest. In another 90 days, you are going to experience a lot of movements and activities with regards to the revitalisation of the flour mills.“Our activities will include recruitment of people, who will run the plant, indigenes of the state, obviously. And as the governor rightly said, we are creating a model that will provide the inputs for the mills, such as the 10,000 hectres of farmlands to cultivate all the inputs for the mills,” he said.
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