FIRS excees revenue target of N11.55trn,  hit N12.36trn in 2023

L-R: Head, Office of the Special Adviser on Media to the Chairman, Federal Inland Revenue Service (FIRS),Mrs Dapo Awolowo; Special Adviser on Media to the FIRS Chairman, Mr. Dare Adekanmbi; National Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN), Mr. Charles Okonji; Special Adviser on Tax Policy, Mr. Femi Olarinde and  Technical Assistant, Media, Mr. Sikiru Akinola, at the FIRS Media Parley with CICAN members in Lagos on Thursday, July 11, 2024.

Stanley Ihedigbo

Federal Inland Revenue Service (FIRS), exceed its target of  N11.55 trillion revenue in 2023 and realised N12.35trn.

Special Adviser on Media to the FIRS Chairman, Dr Zacch Adedeji, Dare Adekanmbi, disclosed this in Lagos at a forum organised by Commerce and Industry Correspondents Association of Nigeria (CICAN).

He said that many transformative initiatives has been introduced under the current leadership of Dr. Adedeji and it has contributed  positively on the image, administration and revenue profile of the tax organisation.

Adekanbi restated the FIRS’s commitment to fair tax administration through responsive and accessible service to optimise revenue collection for national development .

In doing this, the Service leverages on its mandate to assess, collect and account for revenue accruable to the Nigerian Federation while administering the relevant tax laws.

To actualise it’s vision of becoming one of the world’s most efficient and trusted revenue service, the FIRS is in pursuit of optimizing operations and enhancing overall effectiveness.

To this end, Adekanbi noted that the tax Agency ” has strategically realigned its focus to bolster productivity, efficiency, and cultivate 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 stressed that the FIRS strategy, geared towards effective delivery of its mandate to be one of the world’s most efficient and trusted revenue service, is driven by People, Technology and Processes.

Adekanbi recounted how Adedeji’s tenure has seen the FIRS dragging over 170,000 new payers into the tax net with the Agency netting 81% of tax collection in the first quarter of 2024, amounting to 3.94 trillion.

“Adedeji’s regime has also revolutionised tax office operation 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 has significantly reduced customer complaints between the 4th quarter of 2023 and the 1st quarter of 2024.

“We have achieved remarkable success in simplifying tax processes by offering personalised services and enhancing tax education. Increase tax compliance by 20%.

“The service launched the National Single Window initiative which aims to spur economic growth, providing business enterprises with effortless access to the global market by facilitating fast and easy operation at the nation’s port while harmonising and improving government revenue.” He stated.

Special Adviser on Tax Policy to the Chairman, Mr. Femi Olarinde, added  that the National Single Window initiative has improved the tax compliance of international shipping companies lifting crude oil in Nigeria.

In his remarks, National Chairman, Commerce and Industry Correspondents Association of Nigeria (CICAN), Mr. Charles Okonji, commended the agency and assured them of their partnership.