Nigeria’s tax revenue hits N21.6trn in 2024 — FIRS

The Federal Inland Revenue Service (FIRS) generated N21.6 trillion in revenue in 2024, exceeding its initial target of N19.4 trillion by 11.34%.

FIRS Chairman, Zacch Adedeji, announced this on Thursday at the agency’s 2025 strategic management retreat in Abuja.

He described the achievement as historic, attributing it to the dedication, professionalism, and resilience of FIRS staff, alongside strategic improvements in technology and processes.

“Together, we closed the chapter of 2024 with an achievement that will forever be recorded in the history of the Federal Inland Revenue Service: the record-breaking generation of N21.6 trillion in revenue, surpassing our target of N19.4 trillion.

”This was no small feat. It was the result of your resilience, professionalism, and dedication, coupled with visionary leadership and a strategic focus on the pillars of people, technology, and processes.

“But let me remind you that this success is not just ours to celebrate. The FIRS is more than a revenue authority; it is a cornerstone of our nation’s economic stability, a vital pillar upholding Nigeria’s progress, and an agent of renewed hope for all Nigerians,” he said.

Adedeji emphasised that the agency’s role extends beyond revenue collection, as it plays a crucial part in Nigeria’s economic stability and development.

Looking ahead, the FIRS chairman outlined a strategic roadmap for 2025 aimed at sustaining and improving the agency’s performance.

He said the focus would be on strengthening internal capacity, modernizing infrastructure, and leveraging technology to enhance tax administration.

ALSO READ: FG secures $1.1bn AfDB loan

“This year, our mission is both ambitious and transformative: to build a service of excellence defined by the expertise of our people, the modernization of our facilities, and the innovative use of technology to enhance our processes,” he said.

The agency plans to invest in capacity-building programs, improve workspaces to reflect a world-class tax administration system, and expand digital platforms for seamless tax collection.

He stated, “Capacity Building and Training: We will empower our workforce with the tools, knowledge, and skills needed to excel in modern tax administration,”

“Through targeted, high-impact training programmes, aligned with global best practices, we will enable you to navigate complexities, embrace innovation, and provide stellar service to taxpayers.

“Infrastructure and facility enhancement: This year, we will continue to invest in revitalizing our workspaces, ensuring they reflect the vision of a world-class institution.

“From modernised offices to sustainable practices, our facilities will serve as an environment that fosters excellence and productivity,” he added.

In addition, FIRS will integrate emerging technologies to unify national tax collection systems and improve taxpayer services.

Meanwhile, the National Assembly Joint Committee on Finance has set a N25 trillion revenue target for FIRS in 2025, raising expectations for further improvements in tax administration and collection.

TRIBUNE ONLINE