Outgoing Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami has said the Service generated the sum of N8.5 trillion between January 1 and September 14.
Nami, who said this at the handover ceremony to the incoming Acting Chairman of the Service, Mr Zach Adedeji on Monday in Abuja, added that he implemented reforms that improved the operations of the FIRS in line with the mandate given to him when he took over in December 2019.
President Bola Ahmed Tinubu had last week appointed Zaccheus Adedeji to head the revenue Service as acting Chairman.
According to Nami, the reforms introduced helped boost the federal government’s revenue.
With the NNPC Limited putting a stop to his FAAC contribution from January 2022, analysts noted that tax revenue became the mainstay of distributable revenue by the Federal Accounts’ Allocations Committee (FAAC).
In his address, the acting head of FIRS, Zaccheus Adedeji, said the Service will continue to employ technology as it seeks to achieve its mandate of improving Nigeria’s tax revenue.
The former Oyo finance commissioner noted that with the government spending 96 per cent of its revenue on debt servicing, improving tax revenue collection was not negotiable.
“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,” he said.
The Acting FIRS Chairman stressed that during, he will focus on further improving tech use by the Service in a bid to fortify it against revenue leaks, and bolster coordination and accountability within the Service.
He said, “Our overarching goal is to nurture voluntary tax compliance by establishing a modern, dependable tax system that gamers 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.
“A fundamental aspect of our mission is to elucidate to taxpayers why their civic duty matters. We are committed to simplifying our tax system, making it accessible and comprehensible, thereby facilitating voluntary tax payments and fostering a sense of civic responsibility.
“Quality data will be the cornerstone of our operations, enabling us to measure our progress, make informed decisions, and maintain the highest standards of accountability. We recognise that data-driven strategies are essential to our success.”