Following the query sent to him over the dwindling form of revenue collection, the Executive Chairman of the Federal Inland Revenue Service, Babatunde Fowler has replied the query.
Fowler, in his response attributed the shortfalls to global fall in oil prices and the agency’s lack of control over oil revenue.
SEE HIS LETTER BELOW
The Chief of Staff to President Muhammadu Buhari, Abba Kyari had in a letter seen by Roots TV Nigeria queried the Executive Chairman of the Agency over discrepancies in Tax collections from 2015 to 2018.
Findings revealed that since the inception of the present administration, the revenue agency had failed to meet its target which serves as the basis for the country’s budget.
In 2015, FIRS netted N3, 741.8-trillion out of a projected target of N4,572.2tn while in 2016, N4.957tn tax target was set but the agency only generated N3.303tn.
In 2017, the FIRS collected a total of N4.027tn, less than the set target of N4.89tn.
In 2018, actual collection was N5.32tn, while the budgeted target was N6.7tn.