FIRS Surpasses Revenue Target, Rakes in N12.36 Trillion
The Federal Inland Revenue Service (FIRS) has exceeded its revenue target for 2023, collecting N12.36 trillion, which represents 107% of the projected N11.55 trillion. This achievement was announced by Dare Adekanmbi, Special Adviser on Media to the FIRS Chairman, Dr. Zacch Adedeji, at a forum organized by the Commerce and Industry Correspondents Association of Nigeria (CICAN) in Lagos.
Adekanmbi attributed this success to the transformative initiatives implemented under Dr. Adedeji’s leadership, which have significantly improved the image, administration, and revenue profile of the FIRS. He reiterated the FIRS’s commitment to fair tax administration, emphasizing responsive and accessible service aimed at optimizing revenue collection for national development.
“The FIRS leverages its mandate to assess, collect, and account for revenue accruable to the Nigerian Federation while administering the relevant tax laws,” Adekanmbi stated. He highlighted the agency’s vision of becoming one of the world’s most efficient and trusted revenue services through the optimization of operations and enhanced overall effectiveness.
To achieve these goals, the FIRS has strategically realigned its focus to boost productivity and efficiency while fostering a customer-centric ethos. “As part of this endeavour to meet new targets, FIRS has revised its structure to reflect People-Centric, Effectiveness & Efficiency, Cohesiveness, Data-Driven Approaches, Adaptability, and Cutting-Edge Innovation,” he noted.
Adekanmbi emphasized that the FIRS’s strategy is driven by three core elements: People, Technology, and Processes. Under Dr. Adedeji’s tenure, the FIRS has added over 170,000 new taxpayers to the tax net, achieving 81% of tax collection in the first quarter of 2024, amounting to N3.94 trillion.
“Adedeji’s regime has also revolutionised tax office operations into a streamlined ‘one-stop shop’ catering to diverse taxpayers by their categories: Large taxpayer, Medium taxpayer, and Small taxpayer. This has improved customer satisfaction and significantly reduced customer complaints between the 4th quarter of 2023 and the 1st quarter of 2024,” Adekanmbi recounted.
He also highlighted the remarkable success in simplifying tax processes, offering personalised services, and enhancing tax education, which has increased tax compliance by 20%. Additionally, the FIRS launched the National Single Window initiative, aimed at spurring economic growth by providing business enterprises with effortless access to the global market. This initiative facilitates fast and easy operations at the nation’s ports while harmonising and improving government revenue.
The forum underscored the FIRS’s dedication to fostering a robust tax administration system that supports national development. The achievements under Dr. Adedeji’s leadership reflect a strategic vision and a commitment to enhancing Nigeria’s revenue collection capabilities.
