Federal government ministries, departments, and agencies remitted over seven billion naira in value-added tax to the Federal Inland Revenue Service during October and November of 2024, This is according to public data sourced from the ongoing significance of consumption taxes in national revenue generation. This total comprised more than four billion naira collected in October and nearly three billion naira in November, largely driven by contract payments involving various construction and consulting firms. While tax authorities continue efforts to widen compliance and improve collection scopes through digital platforms and international partnerships, broader legislative reforms are simultaneously being pursued to address systemic inefficiencies and strengthen sustainable economic development across the country.
Index to Nigerian Newspapers
