On January, 21, 2023, the Federal Inland Revenue Service (FIRS) announced that it had collected N10 trillion in tax revenue in 2022, there was the clinking of glasses in official circles, especially with declining revenue from the oil sector. The amount is the highest collection ever recorded in the history of the Service.
It is the first time that the Service would cross the N10-trillion in tax revenue collection. According to data, Nigeria’s tax revenue to GDP is one of the lowest in the West African sub-region.
