31.9 C
Lagos
Friday, February 28, 2025

Borno revenue service surpasses target, hits N28.3 billion in 2024

Must read

< 1 mn read

The Borno State Internal Revenue Service (BOIRS) has achieved a remarkable revenue collection of N28.3 billion in 2024, surpassing its initial target of N19.3 billion by an impressive 46 percent. This milestone was announced during a press briefing in Maiduguri, where the Executive Chairman of BOIRS, Prof. Bello Alhaji Ibrahim, credited the success to a combination of effective strategies.

Key factors driving this achievement included strong support from Governor Babagana Umara Zulum, effective public sensitization campaigns, the digitization of tax collection, and the harmonization of taxes to eliminate the issue of multiple tax collectors targeting the same businesses. Prof. Ibrahim also acknowledged the reforms, including the introduction of a gradual payment system and a robust invoicing mechanism, which helped improve accountability in tax collection.

Despite the success, the agency faced challenges such as resistance from local governments regarding the harmonization initiative, the impact of flood disasters on businesses, and a decrease in revenue collections from Ministries, Departments, and Agencies (MDAs).

Looking forward, BOIRS has set an ambitious revenue target of N35 billion for 2025, surpassing the state government’s initial expectation of N25 billion. However, Prof. Ibrahim reassured taxpayers that there would be no additional financial burden placed on them, and all funds collected would be directed towards the development of Borno State, benefiting its people.

- Advertisement -spot_img

More articles

Leave a reply

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article