By Steve Oni, Ilorin
Federal Inland Revenue Service (FIRS) has put its overall 2020 performance from January to October at N4.122 trillion, saying the feat was in spite of Covid-19 challenges, financial Act 2019 incentives and palliatives concessions.
It added that its non-oil revenue collection performance in the same period stood at N2.8 trillion, while oil revenue collection performance stood at N1.3 trillion.
FIRS Executive Chairman Mohammad Nami, who disclosed this on Thursday in Ilorin, Kwara state capital, at the Tertiary Education Trust Fund (TETfund)/FIRS 2020 joint interactive, said the service collected the sum of N251billion as at October this year for the TETfund.
Nami, who was represented by the Agency’s Director, Nureni Fasola, Coordinator for Oyo, Ogun and Osun states, said that FIRS raked in N214 billion for the Fund in 2019.
Also speaking, the chairman board of trustees of the Fund, Kashim Imam, revealed that 226 tertiary institutions in the country would access N500 billion from TETfund in 2021, adding that TETfund set that target of N500 billion as education tax for the FIRS in 2021 “considering the magnitude of challenges facing tertiary education in Nigeria.”
Imam, who stated that the Fund was committed to impacting more, said: “The BoT under me is determined to prove that public agencies should work and must work to get results.
“The synergy between the FIRS and TETfund is vital to the transformation that is evident in our public tertiary institutions nationwide. This was achieved as a result of joint delivery of complementary services by providing amiable and lasting solutions to our beneficiaries. In addition, the successful strategic partnership over the years can be attributed to the strong, relentless commitment and cooperation by the leadership of both organizations and our zeal to improve Nigerian education nationwide.”
The chairman of the BoT also said that the team of the TETfund and FIRS would visit project sites in tertiary institutions in the state to see if the funds were judiciously utilized.
Earlier, Executive Secretary of TETfund, Prof Suleiman Bogoro, represented by Director of Finance Idris Saidu, had said that the fund was “striving to change the narratives by taking practical steps to put the nation on a revolutionary path of a knowledge-based economy.”
He said that TETfund was committed to impacting on the nation’s tertiary institutions comprising 226 federal and state universities, federal and state polytechnics and Colleges of Education for improved infrastructure components.