FIRS generates N8.5trn in 9 months

The Federal Inland Revenue Service (FIRS) said it generated a sum of N8.5 trillion for the federation between January 1 and September 14 this year.

The outgoing Executive Chairman of the FIRS, Muhammad Nami, gave the figure on Monday in Abuja during the handover ceremony to the incoming Acting Chairman of the Service, Mr. Zach Adedeji.

Adedeji was appointed last week by President Bola Tinubu to take charge of the affairs of the Service in an acting capacity, pending his confirmation, while Mr Nami proceeds on terminal leave before exiting the Service.

Mr Nami, while speaking at the event, said he has implemented reforms that have repositioned the operations of the FIRS in line with the mandate given to him when he took over in December 2019.

He pointed out that the FIRS has been able to boost government revenue to the extent that over 70 per cent of the funds shared during the monthly Federation Account Allocation Committee (FAAC) come from tax collection.

The Acting Chairman of the FIRS, Mr Zach Adedeji, said he firmly believes in the wisdom encapsulated in the statement, ”Revenue growth is the lifeblood of a nation’s economy, providing the means to fulfil essential duties to its citizens.”

He noted that these words capture the core principle that will guide his team as they navigate the challenging terrain ahead, ensuring that Nigeria thrives and fulfils its obligations to its citizens.

Mr Adedeji highlighted that in the pursuit of a brighter fiscal future, he is determined to align with President Bola Tinubu’s Fiscal Policy and Tax Reforms Committee, as the collaboration would enable the shaping of a prosperous fiscal landscape that empowers Nigeria’s growth and development.

“As we chart our course ahead, FIRS is committed to placing innovation, technology, and fresh ideas at the forefront of our operations.

This strategic focus will empower us to enhance efficiency, fortify against revenue leaks, and bolster coordination and accountability within our organisation.

“Our overarching goal is to nurture voluntary tax compliance by establishing a modern, dependable tax system that earns the trust and admiration of all stakeholders. Through this, we hope to Create an environment where taxpayers willingly fulfil their civic duties.

“For those who deviate from their tax obligations, rest assured, we will enforce our responsibilities judiciously.

We will implement a robust enforcement model that effectively defers tax evaders while maintaining fairness and transparency in our processes”, Mr Adedeji further stated.

He commended Mr. Nami, whose leadership tenure, he said, elevated standards in the FIRS, and appreciated the entire staff for their unwavering dedication to duty.

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