Outgoing Federal Inland Revenue Service (FIRS) Chairman, Mr. Muhammad Nami, announced on Monday that the agency successfully generated N8.5 trillion in tax revenue between January 1 and September 14 of this year. This significant achievement was reported as part of Mr. Nami’s handover to his successor, Mr. Zacch Adedeji, who was recently appointed by President Bola Tinubu.
Mr. Nami highlighted that under his leadership, the FIRS executed strategic reforms that bolstered its operational efficiency in alignment with the agency’s mandate when he assumed office in December 2019. He further revealed that the FIRS played a pivotal role in government revenue, contributing over 70 percent of the funds disbursed during the monthly Federation Account Allocation Committee meetings.
In response, the acting FIRS Chairman, Mr. Adedeji Zacch, acknowledged that Nigeria currently faces a challenging revenue crisis, with a staggering 96 percent of government income being allocated towards servicing the national debt. Describing this situation as unacceptable, the newly appointed FIRS head emphasized the urgency of swift action to enhance revenue generation. He stressed, “This stark reality necessitates swift and resolute action on our part. We cannot afford to delay; we must act decisively to reverse this concerning trend.”
