The Federal Inland Revenue Service says it collected 4 trillion 952 billion 243 million 711 thousand 728 point 37 as tax revenue in the 2020 fiscal year.
Director of Communications and Liaison of the service, Abdullahi Ahmad, made this known today in a statement in Abuja.
Ahmad explained that this achievement represented about 98 per cent of the national tax target of 5 trillion naira set for the Federal Inland Revenue Service by the Federal Government.
The director quoted the Executive Chairman of the Service, Muhammad Nami, as saying that this performance was remarkable, considering the debilitating effects of COVID-19 on the Nigerian economy.
While analyzing the significance of the 2020 performance, Nami said that the service recorded this feat at a time when the price of oil hit an all-time low.
