The Accountant General of the Federation (AGF), Oluwatoyin Madein, has said that tax revenue is currently the nation’s highest source of income.
Madein, disclosed this while speaking at the 26th annual tax conference, in Abuja, dubbed, ‘Sustainable Tax Culture and Economic Roadmap for Nation Building,’ which was organized by the Chartered Institute of Taxation of Nigeria (CITN).
The AGF also explained that due to the substantial revenue generated from taxes, members of the Federation Account Allocation Committee (FAAC) eagerly anticipate the monthly figures from the Federal Inland Revenue Service (FIRS), as these funds are crucial for distribution among the three tiers of government.
According to her, “Tax revenue as of today, is the highest source of revenue accruing to the federation. Therefore, at the federation account allocation committee meetings, we eagerly await the numbers coming from the FIRS because the performance keeps on increasing and brings succor to all tiers of government,”
She said her office is committed to delivering a sustainable tax culture that will ensure the continuous flow of revenues at an improved level.
