The Federal Inland Revenue Service has collected a total sum of N1.78 trillion in tax revenue between January and July this year.
The figure represents an increase in tax revenue of N224.14bn compared to the N1.558tn collected in the same period last year.
The Executive Chairman, FIRS, Tunde Fowler, while defending the budget of the agency before the Senate Committee on Finance projected raising the current N828bn annual Value Added Tax collection to N1.8tn this year.
The figure represents more than 120 per cent increase.
