NNPC deductions from Federation Account rise 40.5% to N883.56bn in Q1’22

Emma Ujah, Abuja Bureau Chief  

The Federal Inland Revenue Service (FIRS) has listed Nigerian National Petroleum Company (NNPC) as the nation’s highest taxpayer, in 2021.

The Executive Chairman of the FIRS, Mr. Muhammad Nami, who disclosed this,  in Abuja, yesterday, however, did not provide details of the taxes paid the company and other organisations, on its Top-Tax Payers’ lists.

FIRS raked in N6. 405 trillion tax revenue, rupassing its N6 trillion target, last year.
Nigeria Liquified Petroleum Gas Company Ltd, which was recognized as the Most Supportive Taxpayer was also listed as a high tax payer in 2021.

Others on the list of Top-Performing Taxpayers included Mobil Producing Limited, Star Deep Water Petroleum, MTN Nigeria Communications Plc, Shell Petroleum Development Company Limited, Chevron Nigeria Limited, Total E & P Nigeria Limited, Airtel Networks Limited, Nigeria Petroleum Development Company Limited, as well as, Nestle Nig. Plc.

The rest were: Dangote Cement, Nigeria Breweries Plc, Total Upstream Nigeria Ltd, Indorama Eleme Petrochemicals Ltd, NIG Agip Oil Co. Ltd, British American Tobacco Marketing, Guaranty Trust Bank Plc, Stanbic IBC Bank Plc and Lafarge Africa Plc.

Mr. Nami commended the Northern Cables Processing and Manufacturing Limited (NOCACO) and Ikeja Electric Plc for being the most improved in tax filing and VAT compliance respectively.

He thanked the listed companies for their exceptional efforts in contributing towards providing the necessary funds for the government to meet its social contract with the Nigerian citizens, despite the harsh economic conditions imposed by the COVID-19 pandemic.

According to him, without them the Service would not have been able to achieve the feat it recorded in 2021 where it surpassed its tax collection target for the year and crossed the N6trillion threshold for the first time.

“The FIRS is pleased to celebrate the top-performing taxpayers who contributed to her success in 2021,” the release stated. “The Service surpassed its tax collection target in 2021, and in doing so, crossed the N6trillion threshold for the first time,” the Chairman said.

According to him, the tax revenue collection of N6.405 trillion in 2021 was made possible courtesy of the leadership of President Muhammadu Buhari, the support of the Ministry of Finance, Budget and National Planning, and the National Assembly.

He said, “The feat recorded by the Service was made possible by the uncommon leadership of the President, Commander-in-Chief of the Armed Forces of Nigeria – Muhammadu Buhari, the active support of our supervisory Ministry, the backing of the National Assembly and its leadership as well as the cooperation of all other stakeholders in the tax area.  

“To everyone who contributed to FIRS’ success in 2021, we say thank you.

“Of particular importance is the contribution of our much esteemed taxpayers; they defied the very harsh global economic conditions imposed by the lingering COVID-19 pandemic to produce a heroic performance in tax payment, compliance and support. 

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“The combined efforts of all taxpayers made it possible for the Service to achieve the tax revenue collection of 2021 which provided our governments with necessary funds to meet their social contracts with the citizens.”

Mr. Nami urged other taxpayers to join hands with the FIRS to make taxation the pivot of the nation’s development and economic growth.


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