FCT-IRS Generates N43.8 Billion in January, Targets More Tax Compliance

The Federal Capital Territory Inland Revenue Service (FCT-IRS) has kicked off 2025 with a strong revenue collection of N43.8 billion in January, setting the tone for an ambitious financial year.

The Acting Chairman of the FCT-IRS, Ango Abdullahi, made this announcement during a tax sensitization event in Abuja, emphasizing the need for improved compliance and citizen participation in tax remittances.

Surpassing 2024 Targets

According to Abdullahi, the IRS exceeded its 2024 target of N250 billion by collecting N262 billion, proving that tax enforcement and awareness efforts are yielding positive results.

“At the end of 2024, we collected a total of ₦262 billion, surpassing our target of ₦250 billion.

While this is impressive, we know we can do even better. We started 2025 strongly with ₦43.8 billion in January alone, and our February numbers are looking promising,” he stated.

Compliance and Penalties for Defaulters

The tax agency has also begun crackdowns on defaulters who failed to submit their annual employer tax returns by the January 31 deadline.

“Many companies complied, and we are sending them letters of commendation.

However, those that failed to submit their returns will receive penalty notices,” Abdullahi warned.

He also reminded individual taxpayers to file their annual tax returns before the March 31, 2025, deadline to avoid penalties.

Making Tax Payment Easier

To enhance accessibility, the FCT-IRS plans to set up tax kiosks in major markets and plazas across the city, partnering with market associations, area councils, and the informal sector to encourage voluntary compliance.

“We want a tax system where everyone is a partner in Abuja’s development. We already have 16 tax offices across the FCT, but we will expand to new locations to bring services closer to the people,” Abdullahi said.

He also reassured residents that tax revenue is being used for road construction, street lighting, and infrastructure development across Abuja.

A Call for Compliance

As the IRS intensifies tax enforcement, Abdullahi urged individuals and businesses to register and remit their taxes promptly, stressing that compliance is key to achieving a well-developed capital city.