Senate has approved the sum of N216.646billion as expenditure for the Federal Inland Revenue Service (FIRS) for the 2021 fiscal year. The approval was sequel to the consideration of a report by the Senate Committee on Finance. In his presentation, Chairman of the Committee, Senator Solomon Olamilekan Adeola, said that the Federal Inland Revenue Service proposed a total revenue collection of N7.61 trillion for 2021 as against N5.076 trillion budgeted in 2020, a figure which represents about 49.90 percent increase above the corresponding year’s budget. According to Adeola, out of the proposed total collection of N7.61trillion, N5.645 trillion is expected from Non-Oil components, while N1.964 trillion is expected from Oil components, adding that the cost of collection from 4 per cent net of 2 per cent NCS Value Added Tax (VAT) was projected at N216.65 billion to fund Personnel, Overhead and Capital costs in 2021, as against the sum of N180.76 billion budgeted for in 2020.