Energy Giants, Telcos Lead, As FIRS Unveils Nigeria’s 2021 Top Taxpayers

The Federal Inland Revenue Service (FIRS), on Monday released 20 top-performing taxpaying giants for the year 2021, thanking them for making it possible to cross the N6tr mark for the first time in its history, almost two months behind schedule.

The list of companies that contributed mainly to the N6.405tr tax revenue in 2021 was dominated by giant players in the energy value chain and companies listed on the Nigerian Exchange Limited, like telecommunications, banks, cement makers and consumer goods giants.

Specifically, the list was topped by the Nigeria Liquified Petroleum Gas Company Ltd, which was recognized as the Most Supportive Taxpayer; while the Nigeria National Petroleum Company was listed as the Highest Taxpayer.

On the list were publicly traded companies like MTN Nigeria Communications Plc, contemporary- Airtel Networks Limited, a subsidiary of Airtel Africa Plc; Nestle Nig. Plc, Dangote Cement, Nigeria Breweries Plc, Guaranty Trust Bank Plc, Stanbic IBC Bank Plc and Lafarge Africa Plc.

Others included Mobil Producing Limited, Star Deep Water Petroleum, Shell Petroleum Development Company Limited, Chevron Nigeria Limited, Total E & P Nigeria Limited, Nigeria Petroleum Development Company Limited, Total Upstream Nigeria Ltd, Indorama Eleme Petrochemicals Ltd, Nigeria Agip Oil Co. Ltd, British American Tobacco Marketing,

The FIRS, according to the statement also appreciated the Northern Cables Processing and Manufacturing Limited (NOCACO), and Ikeja Electric Plc for being the most improved in tax filing and VAT compliance respectively.

The statement recalled that the country’s top-performing taxpayers were scheduled to be unveiled, recognized and awarded by President Muhammadu Buhari at an exclusive dinner during the FIRS 2022 National Tax Week, which was however canceled in honor of the victims of the unfortunate attack on the Kaduna-Abuja railway on the 28th of March, 2022.

The statement by signed by the Executive Chairman, Muhammad Nami, commended the companies for their exceptional contributions 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.

Without the taxpayers contributing towards its success in 2021, he continued, the Service would not have been able to achieve the feat it recorded in 2021, by not only surpassing its tax collection target for the period, but crossing the N6tr threshold for the first time.

For their efforts, he stressed, “the Service surpassed its tax collection target in 2021, and in doing so, crossed the N6trillion threshold for the first time.”

“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.

“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,” the FIRS noted, urging taxpayers to partner the FIRS to make taxation the pivot of the nation’s development and economic growth.