The Federal Capital Territory Internal Revenue Service (FCT-IRS) reported a significant increase in its revenue collection for the first half of 2024, generating over ₦126.5 billion.

This figure represents a remarkable 53.5% rise compared to the ₦82.45 billion collected during the same period in 2023.

During a press briefing, Executive Chairman Haruna Y. Abdullahi expressed satisfaction with the agency's performance, highlighting that the current collection exceeded the previous year's by ₦44.08 billion.

Abdullahi emphasized that this growth is indicative of the agency's commitment to overcoming challenges and enhancing revenue generation.

The FCT-IRS attributed its success to the effective use of technology, including the development of a robust e-service portal that has improved operational efficiency.

Abdullahi noted that the agency is actively tackling tax evasion through enforcement actions, including sealing non-compliant businesses and pursuing legal measures to recover tax liabilities.

Despite acknowledging that the agency has not yet reached its full potential, Abdullahi stated that significant progress has been made. He reiterated the goal of surpassing the 2024 revenue target through sustained focus and innovation.

The FCT-IRS is also working on optimizing its technology to enhance tax compliance and streamline the payment process for taxpayers.