FCT-IRS generates N43.8bn in January, exceeds 2024 target

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced a strong start to the year, generating N43.8 billion in taxes for January 2025. This feat comes on the heels of exceeding its 2024 target, collecting a total of N262 billion, surpassing the projected N250 billion.

Acting Chairman Ango Abdullahi shared these developments during a tax sensitization event in Abuja, commending employers who filed their annual returns by the January 30 deadline. Abdullahi encouraged employees and residents to file their individual annual returns before the March 1, 2025 deadline.

“The last time I spoke to the press, we had given you an overview of what our collection was at that time. The year had not ended. At the end of the year, we collected a total amount of 262 billion Naira, as against a target of 250 billion,” Abdullahi said. “While this was good, we believe that it can be better. 2025, we have also started very strong. In January, we collected 43.8 billion Naira. And so far, in February, we are also on track.”

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Abdullahi emphasized the importance of tax compliance, noting that the FCT-IRS will send penalties to those who failed to file their annual returns. He also outlined plans to set up kiosk offices in major plazas and markets to facilitate easy tax filing and collection.

The FCT-IRS aims to create a tax ecosystem where everyone contributes to the development of the FCT. Abdullahi assured taxpayers that their revenue is being utilized effectively, citing examples of ongoing projects in the FCT, including road construction and streetlight installation.

To enhance tax compliance, the FCT-IRS will partner with market associations, the informal sector, and area councils. With 16 tax offices across the FCT, Abdullahi encouraged unregistered individuals to come forward and register.

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