Federal Inland Revenue Service (FIRS) said it collected N5.007 trillion revenue in 2012.

The federal revenue board said N1.8 trillion of the amount came from non-oil taxes while oil taxes contributed N3.2 trillion.

FIRS's Director of Communications and Liaison Department, Emmanuel Obeta, said in a statement that what was realized was far above its budget of N3.635 trillion for all its taxes. He said: "Compared with 2011, the all-taxes figure grew by N379.4 billion or 8.20 per cent. FIRS collected N4.628 trillion in 2011. The contribution of non-oil taxes increased from N1.557 trillion or 33.65 percent in 2011 to N1.806 trillion or 36.07 per cent in 2012. The N5.007 trillion is the highest cumulative tax collected in the history of the FIRS.

"This performance reflects the service's unwavering commitment to its vision of making taxation the pivot of national development. It is note-worthy in this regard, that all the non-oil components of the taxes collected by the service maintained the rising trend seen in previous years."

It said that Companies Income Tax increased to N847.5 billion in 2012 compared with N715.4 billion in 2011; Value Added Tax also increased to N710.5 billion against N659.15 billion in 2011, while Education tax recorded N188.43 billion against N130.74 billion in 2011.

The National Information Technology Development Fund accounted for N9.13 billion against N8.67 billion it returned in 2011. The sum of N51.59 billion was realized from Personal Income Tax, Pre-Operational Levy, Capital Gains Tax and Stamp Duty, all pooled together in the Federal Government's Consolidated Revenue Fund account.