The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, made an announcement indicating that the Federal Government has successfully collected N1.5 trillion in education tax, which is far above the initial target of N70 billion. Furthermore, he reported that, by September's conclusion, a total of N18.5 trillion had been amassed out of the N19.4 trillion anticipated for the fiscal year 2024.
Adedeji revealed this information on Monday during a collaborative meeting with the National Assembly's Committees on Finance, Budget and National Planning. This meeting was centered on the 2025–2027 Medium Term Expenditure Framework.
Discussing these accomplishments, he stated: “In terms of education tax, although the target was set at N70 billion, a remarkable N1.5 trillion has been achieved.
“Overall, because N18.5 trillion has been collected as of September from the N19.4 trillion target for the 2024 fiscal year, it suggests that the target will likely be exceeded by the end of the year.”
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