The Federal Inland Revenue Service (FIRS) has achieved its oil and gas sector revenue target for 2025. It is the first time in many years.
The agency attributes this milestone to a sustained peace in the Niger Delta. Spokesman for FIRS Executive Chairman Dare Adekanmbi made this known yesterday in a statement.
According to him, Adekanmbi, FIRS Chairman, Zacch Adedeji, stated this yesterday when he received the delegation of military top brass led by Chief of Defence Staff (CDS), General Christopher Musa. Adedeji said the improved security situation in oil-producing areas had boosted production, resulting in greater profitability for companies in the sector and higher tax revenue for the federation.
“The coordinating director of the Large Tax Group made a presentation at our management meeting today on tax collection to date, and I am glad to say that, for the first time in a long while, we met our oil and gas target,” Adedeji said.
“This is actually as a result of the peace that has been maintained where oil and gas facilities are located. Production is happening, and companies are making more profit from it.”
