FIRS rakes in N8.5trn in eight months, as new chairman vows to block revenue leakages
The Federal Inland Revenue Service (FIRS) has revealed that the service generated N8.5trillion in eight months.
The outgone Chairman, Mr Muhammad Nami disclosed, however, that the Service was on its way to setting a new revenue record in 2023, having collected N8.5trn as at the 14th of this month.
Mr. Nami added that within the period under review, his administration assessed and recovered another N4 trillion from the Nigerian National Petroleum Company Limited (NNPCL).
He said that he has surpassed his 10 per cent Tax-to-GDP target of four years, having achieved 10.86 percent in two years.
He added that the 18 per cent target in four years, set by the current administration was not only reusable but could be surpassed.
Receiving handover notes from his predecessor, the new Chairman of FIRS, Dr. Adedeji vowed to block all revenue leakages.
Dr. Adedeji said, “In this direction therefore, we will key into the reforms being made by President Bola Tinubu who has since inaugurated a Presidential Fiscal Policy and Tax Reforms Committee.
“The mandate of the Committee is to, among other things, evolve an effective design and implementation of fiscal policy and tax reforms for economic prosperity.
“At FIRS, we will embrace efforts being made to design a tidy fiscal landscape for the country and in the process address some of the obstacles impeding effective operations of the Service as the primary agency of government responsible for the administration, assessment, collection, accounting as well as enforcement of taxes and levies.
“We need to innovate and build our operations on foolproof technology, while also evolving a hub of fresh ideas and creativity,” he said.
According to him, “We must definitely plug leakages. We need to strengthen our internal processes and control mechanism. We must put a high premium on effective coordination of assigned tasks and delegated responsibilities.”
He said that he would stimulate voluntary compliance among tax payers to fulfill their obligations, as according to him, his team would engage taskeholders and sensitise them on the need for voluntary compliance.
“Under me, we will not force things down the throat of our stakeholders. I will always be ready to engage with them, work with and through them to jointly build a tax administration that we will all be proud of and one that enjoys the trust and confidence of all.
“Broadly, we intend to come up with a menu of strategies that will stimulate voluntary payment of taxes and levies.
“Yes, this is achievable because Nigerians acknowledge the need for government to increase its revenue to be able to meet its obligations to them. In doing this, we will build a tax system that is smart and modern, one with unquestionable integrity and will earn the trust as well as admiration of stakeholders.”
Dr. Adedeji also charged the management and staff of the service to “work with uncompromising integrity, uphold taxpayers’ confidentiality, and demonstrate a high level of professionalism, fairness and show exemplary public service.”
