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FCT-IRS Generates N252bn in 2024, Exceeding Revenue Target

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FCT-IRS Generates N252bn in 2024, Exceeding Revenue Target

By Fly Cable News

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has generated over ₦252 billion in tax revenue for 2024, surpassing its target of ₦250 billion by 1%. This marks a 19% increase from the previous year’s revenue of ₦211 billion.

Acting Executive Chairman Michael Ango attributed the success to the dedication of FCT-IRS staff and support from various stakeholders, including Area Council Chairmen and government agencies. Ango outlined plans to focus on under-collected revenue streams, such as Stamp Duties and Capital Gains Tax, to support ongoing infrastructure and administrative reforms in the FCT.

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