The Federal Government has said that tax revenue is currently the nation’s highest source of income.
The Accountant General of the Federation (AGF), Oluwatoyin Madein, disclosed this at the 26th annual tax conference, in Abuja, themed, ‘Sustainable Tax Culture and Economic Roadmap for Nation Building,’ organised by the Chartered Institute of Taxation of Nigeria (CITN).
Madein said due to the substantial revenue generated from taxes, members of the federation account allocation committee (FAAC) eagerly anticipate the monthly figures from the Federal Inland Revenue Service (FIRS), as these funds are crucial for distribution among the three tiers of government.
She said the office of the accountant-general of the federation is committed to a sustainable tax culture that will ensure the continuous flow of revenues at an improved level.
“Tax revenue as at today, is the highest source of revenue accruing to the federation. Therefore, at the federation account allocation committee meetings, we eagerly await the numbers coming from the FIRS because the performance keeps on increasing and brings succour to all tiers of government,” she said.
Olaitan Ibrahim