FIRS Reports States’ Revenue Collection Jumps to N1.6tn from N800bn Hammed Shittu in Ilorin Revenue generation by the 36 states of the federation has risen from N800.02 billion in 2016 to N1.6 trillion in 2018, representing a 46.11 per cent rise, according to data released yesterday by
the Federal Internal Revenue Service (FIRS). FIRS Chairman, Mr. Babatunde Fowler, who also chairs the Joint Tax Board (JTB), attributed the boost in states’ revenue collection to the attendant impact of the economic policies of the
federal government. Fowler spoke in Ilorin, the Kwara State capital, at the North-central regional flag-off of the New Tax Identification Number (TIN) Registration System and National Consolidated Taxpayer Database, which was
attended by representatives of governors of the six states that make up the geopolitical zone. He said the development was also due to the expansion of the national tax base from 10 million to 20 million; and which is expected to rise to
45 million by December. According to him, besides the states, the FIRS also witnessed a rise in the collection of federal revenue, which jumped from N3. 30 trillion in 2016 to N5. 32 trillion in 2018, the highest ever recorded and representing
an increase of 53.81 per cent. Fowler stated that non-oil revenue also climbed to N2. 85trillion, an equivalent of 54 per cent of total revenue generation. He said the New TIN Continued on page 8
Bankers Back CBN's Initiative to Boost Lending to Economy... Page 8 Friday 4 October, 2019 Vol 24. No 8943. Price: N250
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Stakeholders Urge Buhari to Implement Police Trust Fund Act Call for composition of board members Kingsley Nwezeh in Abuja Stakeholders have called on President Muhammadu Buhari to implement the Police Trust Fund Act, which provides a legal framework for the
management and control of a special intervention fund for the training of personnel, procurement of operational equipment and provision of infrastructure as well as maintenance of police stations
nationwide. THISDAY investigation showed that six months after the National Assembly passed the Police Trust Fund Bill into law and the subsequent presidential assent in July, the
fund is yet to take off, due to the non-appointment of the board members. Having assented to the bill, the president is expected to inaugurate the board of the fund which has not taken
place. The Police Trust Fund Act stipulates that the board shall have an executive secretary, who shall be the chief accounting officer and oversee the administration of the
fund, and an implementation committee consisting of a minister as chairman and such other members not exceeding six in number with proven Continued on page 5
Businesses Upbeat as Nigeria, South Africa Mend Relations, Sign 32 Deals Open your economy for Nigerians, Buhari tells Ramaphosa Omololu Ogunmade in Abuja and Dike Onwuamaeze in Lagos Members of the Organised Private Sector (OPS) of the Nigerian economy have welcomed the strengthening of the economic and diplomatic ties between Nigeria and South Africa that led to the signing of 32 bilateral agreements between both countries. South African President, Mr. Cyril Ramaphosa and President Muhammadu Buhari, who is on a state visit to the rainbow nation, yesterday signed 32 trade and cooperation agreements, weeks after a wave of violence against immigrants, particularly Nigerians, in Johannesburg and Pretoria strained relations between Africa’s top two economies. In September, mobs armed Continued on page 5
NO MORE WAR... L-R: Minister of Foreign Affairs, Chief Geoffrey Onyeama; President Muhammadu Buhari; South Africa’s President Cyril Ramaphosa; and his Minister of International Relations and Cooperation, Dr Naledi Pando, during a meeting of South Africa-Nigeria Bi-National Commission in Pretoria… yesterday
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