The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced a record collection of N252.83 billion in Internally Generated Revenue (IGR) for 2024, surpassing its annual target by 101 percent.
The acting Executive Chairman of FCT-IRS, Mr. Michael Ango, disclosed this during the service’s end-of-year media parley held in Abuja on Thursday.
Ango explained that the revenue collected between January and December 18 exceeded the N250.2 billion target by 101 percent, representing a significant 19.8 percent increase from the N211.1 billion generated in 2023.
“This milestone is a testament to the dedication of our staff, management, and the collaborative efforts of the FCT Secretariat, Departments, and Agencies, as well as other government entities,” Ango said. He also acknowledged the legislative support provided by the Senate and House Committees on the FCT.
Since assuming office in August 2023, Ango has spearheaded structural reforms aimed at strengthening the agency’s capacity to meet its revenue mandates. Key among these changes was the establishment of new departments, including Audit, Debt Management and Enforcement, and a restructured Tax Operations Department organized by taxpayer categories.
The expanded Tax Operations Department now features two new directorates. One focuses on Ministries, Departments, and Agencies (MDAs), corporate organizations, and international entities, while the other is dedicated to individuals, enterprises, and partnerships. To target Abuja’s wealthiest taxpayers, Ango highlighted the formation of a High Net-worth Individuals (HNIs) Unit.
“We have intensified our collaboration with the Nigerian Financial Intelligence Unit to gather actionable intelligence on HNIs in Abuja, aiming to boost tax compliance and revenue generation,” he said. Capacity building and training have also been prioritized through the newly created Learning and Development Department, equipping staff and stakeholders to address emerging challenges.
The FCT-IRS has further strengthened external partnerships by enhancing ties with the Federal Inland Revenue Service (FIRS), the Joint Tax Board, and the FCT Judiciary. Ango noted that these alliances have been pivotal in improving the agency’s efficiency in revenue collection.
Reflecting on the agency’s achievements, Ango expressed optimism for the future. “Our success this year underscores the transformative power of strategic reforms, collaboration, and innovation. We remain committed to sustaining this momentum and setting new benchmarks for 2025,” he said.
The N252.83 billion collected by the FCT-IRS in 2024 highlights the agency’s growing efficiency and its critical role in driving fiscal sustainability within the Federal Capital Territory.
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