FIRS collected a total of N4.03 trillion as tax revenue in 2017 - Presidency

By Factnews on 05/02/2018

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According to a new report by the presidency, Federal Inland Revenue Service (FIRS):  Tax revenue collected totaled N4.03 trillion in 2017, 82.38% of the N4.89 trillion target set for the Service by the Federal Government during the period, and N720 billion (22 percent) more than the N3.31trillion generated in 2016.


While  the Manufacturers Association of Nigeria (MAN): Nigeria’s manufacturing sector outperformed some of its African peers with capacity utilisation moving up from 44.3% in 2016 to 55% in 2017 while Nigeria’s Purchasing Managers’ Index (PMI), as measured by the Central Bank of Nigeria (CBN) expanded for the tenth consecutive month in January 2018, at 57.3 point.


Below are other facts and figures from the report:

The Development Bank of Nigeria (DBN), conceived by the Federal Government of Nigeria (FGN) in collaboration with global development partners as a wholesale bank to support MSMEs in Nigeria, and licensed by the Central Bank in 2017, has so far disbursed 5 billion Naira to three National Microfinance Banks -- Fortis Microfinance Bank Plc, LAPO Microfinance Bank Ltd and NPF Microfinance Bank -- for on-lending to more than 20,000 MSMEs across Nigeria.

From the Debt Management Office (DMO): N196.3 million was raised through the first auction of the Federal Government Savings Bond issued in the second week of January 2018. Subscription has opened for the February Savings Bond today and closes on Friday, February 9, 2018.

From the Social Investment Programme (SIP): Over 246 million meals have been served to date to primary pupils across 20 states in the country, since the National Home Grown School Feeding Programme (NHGSFP) kicked off in December 2016. The total figure is expected to reach 313 million meals by the last week of February 2018. Also, the School Feeding Programme now feeds 6,044,625 pupils in 33,981 public primary schools across 20 states. The Conditional Cash Transfer (CCT) has so far recorded over 280,000 beneficiaries in 21 states, while about 300,000 Government Enterprise Empowerment Programme (GEEP) interest-free micro-credit loans have been disbursed nationwide. Finally, the N-power scheme, which is targeted at providing jobs for unemployed young graduates, has recruited 200,000 youths and will increase that number in 2018.



Posted on February, 5 2018

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