The Federal Inland Revenue Service generated N2.51tn from taxes between January and August this year.
Disclosing this at the 20th anniversary lecture and awards of the Finance Correspondents Association of Nigeria in Abuja, the Executive Chairman, FIRS, Mr. Tunde Fowler, said the feat was achieved through innovative ways of tax administration.
He stated that oil taxes contributed about 65 per cent of the total amount while taxes from the non oil sector contributed the balance.
“To close the gap in low oil tax revenue caused by the fall in the price of crude oil and the incessant destruction of oil and gas facilities in the South-South region, the service introduced innovative strategies to raise revenue from non- oil sources.
“This has resulted in the collection of a total tax revenue of N2.5tn between January and August, 2017.”
He further said that the service has put in place measures to increase the amount generated from non-oil sector.
